Velocimetrics has licensed the intellectual property rights (IPR) of TS-Associates’ TipOff and Application Tap network monitoring and analysis products following the company’s collapse into administration. Velocimetrics says it will continue to maintain and develop the former TS-Associates products as well as integrate them with its own technology, which offers real-time business-level insight into activity across networks and systems.
Velocimetrics has also hired Steve Rodgers, former chief technology officer at TS-Associates, and his engineering team. These hires were made before TS-Associates went into administration with the intention of helping Velocimetrics develop its own product set. TS-Associates’ holding company, which did not go into administration, then offered Rodgers the IPR for TipOff and Application Tap and it was decided that Velocimetrics would license the IPR and that Rodgers and the engineering team would work on Velocimetrics’ existing and acquired products.
Henry Young, who has been at the helm of TS-Associates for the past 15 years, has not joined Velocimetrics and is having what he calls ‘a well earned rest’ while toying with the potential of cryptocurrencies.
Steve Colwill, CEO at Velocimetrics, says: “Our arrangement with the holding company of TS-Associates gives us an exclusive worldwide licence to sell the TipOff and Application Tap products within the financial services industry. The products give us a complete spectrum of functionality from network-level analysis provided by TipOff, to application software monitoring provided by Application Tap, and business-level insight into network and in-application activities provided by Velocimetrics.”
In the short-term, Velocimetrics does not intend to rebrand the former TS-Associates products, but they are central to a new technical roadmap that the company is creating. The roadmap includes integration of all the company’s products, enhancements for TipOff, extended functionality for Application Tap and Velocimetrics, and additional functionality that could result in new products.
Colwill comments: “We will continue to maintain the former TS-Associates products and give them a long-term future. The market is evolving in terms of what people expect. They want business insight, which is our strength, but they also want lower-level network analysis, which we can now deliver.”
The addition of the TS-Associates products adds a potential 20 customers to a similar number already using Velocimetrics’ solutions and adds similar revenue generation to that already produced by Velocimetrics. Rodgers and his team add six employees to Velocimetrics’ 10, while a former TS-Associates commercial manager is also expected to make the transition to Velocimetrics.
TS-Associates is not the only company to have foundered in the niche market of flow monitoring and itself acquired the assets of competitor Correlix when investors pulled the plug in July 2012. In contrast to these external investor backed companies, Velocimetrics is privately owned and has no external funding, suggesting that its future could be bright in an evolving and increasingly interesting market.