IT billionaire invests in Danish IT fledgling  

2004.05.17
IT billionaire Erik Damgaard has invested an undisclosed sum in International Power Switch and will be heading its software development

IT billionaire Erik Damgaard has invested an undisclosed sum in the Danish IT fledgling International Power Switch and will be heading its software development. Erik Damgaard and his brother Preben were the owners of Damgaard Data which merged with competitor Navision, which in turn was sold to Microsoft in 2002 for DKK 11 billion (USD 1.7 billion). The Technical University of Denmark and another investor are also putting funds into International Power Switch.

 

The small Copenhagen based enterprise has developed a power switch that companies can use to automatically switch on or off computers in their data centres if for example temperature or humidity rises. Initially customers are expected to be large US based companies with 100 to 2000 servers in their data centres. According to Carl-Erik Nielsen, managing director of International Power Switch, the objective is to become a global market leader by 2008, when he estimates the market to be worth around DKK 1 billion annually. The news is reported by financial newspaper Børsen online.

 

Link > International Power Switch 

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