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Annasha

Annasha Dey is an NIT student, who apart from studying engineering is also a content writer. She has a great interest in photography, writing, reading novels, and travelling as well. She is a foodie who loves socializing and hanging out with her friends. She is also a trained Kathak dancer and a big fashion enthusiast. Dey also loves watching TV series, which includes F.R.I.E.N.D.S. and Big Bang Theory. To be a better writer she prefers to read more

OpenText Corporation

OpenText Corporation – A Software Company That Was Once The Largest In Canada.

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OpenText is a company based in Waterloo, Ontario, Canada. The founders of the company are Tim Bray, Gaston Gonnet, and Frank Tompa. This Canadian company was established in 1991 and it specializes in developing and selling enterprise information management (EIM) software. OpenText Corporation achieved success rapidly and expanded over time making it the largest software company in Canada in 2014. In 2016, the company was also recognized by Mediacorp Canada Inc as one of the top 100 Canadian employers.

About OpenText

There are various kinds of software applications that are developed by OpenText Corporation. This software helps large enterprises to manage and structure a large amount of unstructured data and helps in proper management. Apart from large enterprises, the software of OpenText is also used in many government agencies and professional service firms. OpenText also develops applications for mobile and online experience management.

Some of the main products of the company include Enterprise content management (ECM), Business Process Management (BPM), Customer Experience Management (CEM), Information Exchange, cybersecurity software, and many more. OpenText has more than 14,000 employees spread worldwide working to solve digital business challenges.

OpenText Corporation
Image source: www.cmscritic.com

The Early Phase Of OpenText Corporation

OpenText Corporation started off as a university project when the University of Waterloo and Oxford University partnered for this new journey. Both the universities joined hands to build the first online Oxford English dictionary. After the project showed positive results, OpenText Systems Inc was incorporated in 1989. But, eventually, the founders spun off the product from the University of Waterloo and OpenText Corporation was established in 1991. And, the company began shipping the product in September of the same year.

As the first online-based product of OpenText hit the market, it helped Yahoo! To search every word from every web page. An innovative product like this gained much popularity in the market and OpenText eventually became popular in the software industry. In 1994, Tom Jenkins joined OpenText as COO and was later made the President and CEO of the company. In 1996, the company held its first IPO and it got listed in NASDAQ under the name OTEX. Earlier in the next decade, OpenText crossed 1,000 employees and made $147 million as its annual revenue. By this time, OpenText also established 31 offices both in Canada and overseas.

Expansion And Acquisitions

As the demand for the products of OpenText increased, Gartner named the company as the global leader of ECM for the first time ever. It still holds the position as one of the leading companies which specialize in ECM. In 2014, the company decided to expand its market by adding B2B integration services and cloud-based fax services. OpenText achieved both of these when it acquired GXS for $1.06 billion. The company also became a market leader in content services when it acquired Dell EMC’s Enterprise Content Division including Documentum. The deal was closed for $1.62 billion in 2017.

The series of acquisitions continued for OpenText and so was expanding into new sectors every year. In 2019, OpenText acquired a company called Carbonite to enter the cybersecurity sector. Acquiring this company ensured cyber resiliency for customers along with an end-to-end platform offering data protection, digital forensics, etc. This deal was closed successfully for $1.45 billion. The acquisitions made by the company are made strategically to enter new markets and eventually become global leaders in those sectors. But, OpenText is yet to become one of the best companies in the cybersecurity sector. Last year, the company crossed the $3 billion mark of annual revenue.

About The Founders

Tim Bray apart from being a software developer is also an environmentalist and political activist. He studied mathematics and computer science for his bachelor’s degree. In 1987, Tim joined the Oxford English Dictionary project at the University of Waterloo, and before that he had working experience at Digital Equipment Corporation and Microtel Pacific Research.

Gaston Gonnet is a well-known computer scientist and entrepreneur. He became famous for his contributions to Maple Computer Algebra System. Gaston completed his education at the University of Waterloo. Apart from founding OpenText Corporation, he also co-founded Symbolic Computation Group.

Frank Tompa graduated from Brown University followed by the University of Toronto. He served as a faculty member at the University of Waterloo for some time. Frank is famous for co-founding OpenText and he was also awarded Queen Elizabeth II, Diamond Jubilee Medal, for his services to the country.

sage group

Sage Group – Story Of One Of The Largest Software Companies In The UK.

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The Sage Group was founded in 1981 and is one of the leading enterprise software companies in the UK. After Oracle and SAP, Sage has taken the third position in terms of becoming the largest supplier of enterprise resource planning software. The founders of the company are David Goldman, Paul Muller, and Graham Wylie. Sage Group is currently based in Newcastle upon Tyne, England, UK. The product of Sage has its usability in all types of industrial sectors worldwide. Today, Sage Group has more than 13,000 employees that serve millions of businesses in both the UK and overseas. The company is spread across 23 international markets in Latin America, North America, Asia, Australia, Africa, and Europe. Steve Hare is the CEO of the Sage Group and Sir Donald Brydon is the working Chairperson.

Foundation of the Sage Group

The origin of the Sage Group and the idea behind it dates back to 1981 when David Goldman wanted to create quotes for his print business and keep track of his account. He wanted a very impactful solution for this and started working with a team at Newcastle University. While working, he was assisted by Dr. Paul Muller who was a computer expert working with NASA, and also a student, Graham Wylie who took a summer job writing code for an accounting firm. David and other members of the team realized that the solution that they were building can be beneficial for other businesses as well. This idea led to the foundation of the Sage Group which aimed to develop accounting software for small businesses.

Today, the solutions of Sage include account management, payrolls, HR, assets, construction, estate, enterprise systems, etc. Once David and other team members started to develop the product, he hired more employees. The first product of the company was called Sage Accounts and the code was written by Graham Wylie, the student who was hired for a summer job at Campbell Graphics (the print business of David Goldman). After developing the first product successfully, Sage started selling the software to other printing businesses and eventually expanded its network. Impressed by the work of Graham and Dr. Paul, they were brought on board as a part of Sage.

sage group
Image source: wikimedia.org

The Success of the Company

After developing the first version of the product and selling it to other print businesses, the demand for Sage increased. In 1984, the company developed Sage Software, a product that was built for the Amstrad PCW word processor. The same year, the sale of the Sage Software increased by ten folds from 30 to 300 each month. After a few years, Sage got listed on the London Stock Exchange and became a publicly-traded company. In the 1990s, Sage expanded overseas and established an Irish division of the business in Dublin. The company also opened Sage’s professional Accountant Division and entered FTSE 100. Sage eventually entered the mid-range business software market by the end of the 20th century.

In 2001, Sage Group entered the contact management market after acquiring Interact Commerce Inc and next year bagged the “Business of the Year” in the National Business Awards. The company also became famous as the Sage shares performed the best in the 90s compared to other UK businesses. Sage also sponsored £6 million for the new music center in Gateshead which is now known as Sage Gateshead. After two years, in 2003, Graham Wylie retired from the company and there were new members joining the executive team of Sage. Steve Hare became the CEO of the company in 2018 and before that, he served as the CEO of Sage since 2014. The Sage group currently has 6.1 million customers spread across the world from Africa to the Middle East, from Australia to Asia focusing on management solutions as well as engaging in non-profit works.

Steve Hare – CEO of Sage Group

Steve Hare is a famous British businessman who joined Sage with a rich industrial experience. He worked at General Electric Company in many roles including serving as the CFO of the company. He also worked at Spectris plc and Invensys and was a partner at Apax Partners. Currently, he is the CEO of the Sage Group and he was named the best CEO of the UK by Glassdoor during the pandemic.

SolarWinds Inc

SolarWinds Inc – A Software Development Company that has Recently Fallen Victim to the World’s Largest Cyberattack.

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In the past year, the name of SolarWinds Inc has been crawling in every news website speaking of cyberattacks. SolarWinds is a major software developing company based in America which has many reputed multinational companies as its clients. Last year, the company was the victim of the most sophisticated and the largest cyberattack the world has ever witnessed. After this attack, a security firm called Trustwave raised some concerns regarding the security flaws in the products of SolarWinds which questioned if the company can protect its client’s privacy at all. The cyberattack followed by these allegations had a negative impact on the company’s reputation and the share price fell.

About SolarWinds Inc

SolarWinds Inc is an American software company with headquarters based in Austin, Texas. The company develops software for enterprises that helps in managing networks, IT infrastructure, and systems. SolarWinds has several offices in the US and overseas with more than 3,200 employees working for the company. Donald Yonce and David Yonce founded the company in 1999 and it became a publicly-traded company in 2009. The company has approximately 300,000 customers which include most of the Fortune 500 companies. There was a huge investigation last year when Orion, one of the SolarWinds products was compromised by a cyberattack.

SolarWinds Inc
Image source: owler.com

Early days

Donald Yonce, who was a former executive at Walmart along with his brother, David Yonce started SolarWinds in Tulsa, Oklahoma. Though the company was established in 1999, the two brothers started working on their products ahead of time. Trace Route and Ping Sweep were the first two products rolled out by the company. In November 2001, SolarWinds released its first web-based network performance monitoring application. In 2006, Michael Bennett became the CEO of the company and the headquarters were shifted from Tulsa to Austin. During 2007, the company raised funds from Bain Capital, Insight Venture Partners, and Austin Ventures. After the fundings, the company decided to file its first IPO of $112.5 million and became public in 2009.

After the first IPO, the company made several acquisitions and expanded rapidly. In 2011, it was featured in Forbes magazine as one of the top fastest-growing companies. Bennett’s leadership ended in 2010 and he was replaced by the former CFO of the company, Kevin Thompson. In 2013, the company announced that it will be investing in an operations hub in Utah. The company’s target was to develop high-functioning products at a low cost which is desirable by every enterprise. The same year, SolarWinds was named the Best Small Company in America by Forbes. The number of employees in SolarWinds doubled from 2011 to 2013 as the total count became 900. In 2016, the company had more than 1700 employees and generated annual revenue of half a billion dollars. During this time the company was taken private and again filed a public offering in 2018. Last year, Kevin Thompson retired and he was replaced by Sudhakar Ramakrishna. Currently, the company is trying to cope up with the losses it faced during the recent cyberattack.

Acquisitions

In 2007, the company received good funding and it decided to invest the money in new acquisitions. So, the company acquired Neon Software and monitor Corp. The company also opened a new office in Ireland for sales purposes. The company didn’t just acquire companies but also focused on acquiring products that matched the interest of the company. After the company became public in 2009, it acquired many companies including Kiwi Enterprises, Hyper9 Inc, TriGeo, EminentWare, etc. By this time the company opened offices outside the US, including Australia, Czech Republic, India, and Singapore. The recent companies acquired by the company are Capzure Technology, Librato, SpamExperts, VividCortex, etc.

Sudhakar Ramakrishna – CEO of SolarWinds

Sudhakar Ramakrishna has recently become the CEO of the company. He has 25 years of professional experience in different fields including networking, security, mobility, etc. He is the former CEO of Pulse Secure and also worked at Citrix, Motorola, 3Com, etc. Ramakrishna is an alumnus of Kansas State University.

Ultimate Software

Ultimate Software – An American Tech Company that Merged with Kronos Incorporated to Form UKG.

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Ultimate Software was an American-based technology company that eventually merged with Kronos Incorporated to form Ultimate Kronos Group. Scott Scherr is the founder of Ultimate Software, a company that is known for selling SaaS. The company sold UltiPro as its main product which is a cloud-based human capital management software. This SaaS product was sold to many enterprises by Ultimate Software. Founded in 1990, the company’s headquarters are based in Weston, Florida. Ultimate Software officially launched its first product in 1993. Last year, the company ranked second in the Fortune 100 Best Companies to Work For list.

About Ultimate Software

Ultimate Software is mainly known for its SaaS product, UltiPro, a single cloud-based system for recording HR, payroll, and talent management. Eventually, the software added many new features like employee onboarding, attendance maintaining, performance and compensation management, recruiting, etc. The rollout of UltiPro was a big success for Ultimate Software as in 2017 it generated a revenue of $940.7 million in the fourth quarter. Before it was merged with Kronos Incorporated, the company had more than 5,000 employees providing services in 160 countries. In 2019, Ultimate Software came under the acquisition of Hellman & Friedman Capital Partners for $11 billion. One year later, the company further merged with Kronos. The newly merged company is called Ultimate Kronos Group and is led by the CEO of Kronos Incorporated, Aron Ain.

Ultimate Software
Image source: wikimedia.org

History of Ultimate Software

Though Ultimate Software was established in 1990, the company launched its first product, UltiPro, after three years. After rolling out the first version of this SaaS software for better business management, the company kept improving the product by adding more features and optimizing it. In 1993, when UltiPro was launched for the first time, it was an on-premise software mainly for core HR and payroll. In 2002, the same product was launched as SaaS to provide HRs with a unified management tool.

The company went public in 1998 and was listed on NASDAQ as ULTI. After UltiPro was launched as SaaS, the total customers of the company exceeded 3,000 businesses over a small time span. The company eventually decided to expand overseas, and thus opened offices in London and Singapore. In 2014, the company partnered with the Center for Generational Kinetics to study the behavior of different generations in a workforce.

About Kronos Incorporated

Kronos Incorporated is an American multinational conglomerate founded in 1977 by Mark S. Ain. The company specializes in workforce and human capital management cloud platforms. Kronos Incorporated is currently owned by Hellman & Friedman and its headquarters is located in Lowell, Massachusetts. In 1979, Kronos rolled out its first product which was the world’s first microprocessor-based time clock, and a few years later launched a PC-based time and attendance product. Kronos became a publicly-traded company in 1992 and Aron Ain, brother of Mark Ain took over the charge of the company in 2005. Before the merger of Kronos and Ultimate Software, the former has acquired many other companies including Principal Decision Systems International, Stromberg, Empower Software Solutions, etc.

Formation of UKG

Both Ultimate Software and Kronos Incorporated were established in the same field and to multiply its impact on the human capital management system, they decided to merge and start a new venture. In February 2020, the two companies announced the merger and after two months Ultimate Kronos Group was launched officially. The valuation of the jointly established company is $22 billion making it one of the world’s largest cloud computing companies. UKG is keeping both the headquarters and made Aron Ain CEO of the new venture. Since Hellman & Friedman was the owner of both the companies, he is also the major shareholder of UKG.

Scott Scherr – Founder of Ultimate Software

Scott Scherr is the founder of Ultimate Software and after he established the company in 1990, he served as the CEO of the company as well. He remained as one of the board members of the company after resigning as the CEO. When Scott established Ultimate Software, he created jobs for more than 1000 people in Florida and his contributions were immense to develop the tech culture in the state as well.

Mitsubishi Corporation

Mitsubishi Corporation – Story of the Largest Trading Company in Japan Providing a Variety of Services.

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Mitsubishi Corporation is the largest multinational Japanese trading company and also a member of the Mitsubishi Group. The company, Mitsubishi Corporation has ten different business segments to date and approximately employs 86,000 people worldwide. The main services provided by the company are energy, metal, food, consumer goods, financial services, construction, chemical, and machinery. Mitsubishi’s current headquarters are based in Chiyoda, Tokyo, Japan and it has a subsidiary, Lawson Inc which is a chain of convenience store franchises. So, let’s have a look at the history of the company and its predecessor.

History of Mitsubishi Corporation

The foundation of the Mitsubishi Corporation originally dates back to the time when Yataro Iwasaki founded Mitsubishi Group and eventually expanded the business. Yataro Iwasaki didn’t originally build the company but his responsibilities in the Tosa clan’s trading operation eventually made him the head of the business. The story of Mitsubishi dates back to the time when Iwasaki was employed by the Tosa clan and got his posting in Nagasaki. After he started working in the trading sector of Tsukumo Shokai, the company’s name was changed to Mitsukawa Shokai followed by Mitsubishi Shokai. In the early 1870s, the company’s name again changed to Mitsubishi Steamship Company which received government sponsorship to start a mail service between Yokohama and Shanghai.

Iwasaki, after working for a few years in the company, started to lead it in the late 1800s. His main goal was to diversify the business and thus entered the insurance, mining, and shipbuilding sector. In 1885, the unfortunate event of Iwasaki’s death took place and the responsibility of the company fell on the shoulders of Yanosuke Iwasaki, his successor. The new leader wanted to focus more on the coal and mining business and thus decided to merge the shipbuilding business with Nippon Yusen Kaisha, a rival company. In 1918, the international trading business of Mitsubishi formed another company, Mitsubishi Shoji Kaisha. Mitsubishi played a very active role during World War II as the company’s heavy industry sector was responsible for producing ships, aircraft, and heavy machinery.

Mitsubishi Corporation
Image source: www.etcapital.com

Dissolution of the Company

After the end of World War II, the Allied Occupation of Japan wanted the dissolution of all existing zaibatsu (large conglomerates who had significant dominating power in the Japanese economic market). Mitsubishi was one of those zaibatsu and though the company showed resistance initially, the rules were eventually implemented. The dissolution eventually took place in 1947 and Mitsubishi Shoji got rebranded into 100 different companies. But, after three years the re-consolidation was possible and Mitsubishi once again coalesced into three companies. This merger was finally completed in 1954 and it represents the present-day Mitsubishi Corporation. The company eventually listed itself in Tokyo Stock Exchange and Osaka Stock Exchange. By 1960, Mitsubishi had over fifty international offices and also established a US subsidiary, Mitsubishi International Corporation.

Two subsidiaries of Mitsubishi Corporation along with Mitsubishi Corporation became very prominent in Japan during the post-war scenario. Those two subsidiaries are Mitsubishi Heavy Industries and Mitsubishi Motor Company. In the late 1960s, Mitsubishi became the largest general trading company in Japan and eventually stepped out to acquire a lot of international companies and together formed Mitsubishi Group. Last year, a company called Berkshire Hathaway acquired 5 percent stock in Mitsubishi Corporation along with a few other Japanese trading houses.

About Mitsubishi Group

The history of Mitsubishi Group and Mitsubishi Corporation dates back to the same time as Yataro Iwasaki is the founder of both of these businesses. Dissolution of the company followed by re-consolidation has kept the brand name of Mitsubishi intact and one of the best in its sector. Mitsubishi Corporation is one of the four companies under the Mitsubishi Group. The other three being MUFG Bank, Mitsubishi Electric, and Mitsubishi Heavy Industries. MUFG Bank became the largest bank in Japan after it merged with the Bank of Tokyo and UFJ Holdings. The business of Mitsubishi Group is massive as there are more than these four main companies under the shadow of Mitsubishi Group.

About the Founder

Iwasaki Yataro was one of the most successful industrialists and financiers of Japan. Iwasaki’s exposure to modernization and scope in the industry was possible when he became an employee of the Tosa clan. Seeing his contributions in diversifying the business of Mitsubishi, he was contracted by the Japanese government during World War II to send supplies. Iwasaki’s demise was due to stomach cancer in 1885.

Siemens

Siemens – Story of the Largest European Industrial Manufacturing Company.

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Siemens AG is a German-based publicly traded company based in Munich. The company was founded more than 170 years ago when Germany was still famous as the Kingdom of Prussia. Werner von Siemens is the founder of the company who incorporated the business in late 1847 along with Johann Georg Halske. Siemens today represents a wide range of products and services and its principal divisions are industry, energy, healthcare, and infrastructure, and cities. The products of the Company are very diverse ranging from developing enterprise software to railway vehicles. The company is a multinational company that provides its service globally and currently employs 293,000 people. Currently, the CEO of the company is Roland Busch and its headquarters is based in Munich.

The Initial Journey of Siemens

Werner von Siemens and Johann Georg Halske co-founded Siemens & Halske in October 1847. Their business evolved around an invention that used a needle instead of morse code to point the sequence of alphabets. The company was then known as Telegraph-Bauanstalt von Siemens & Halske and they opened their first long-distance telegraph line in 1848. This construction took place in Europe and covered a total length of 500km. Starting in 1850, the company started expanding its business in London and also developed long-distance telegraph lines in Russia. In 1867, Company successfully completed its Indo-European telegraph line from London to Calcutta. Werner retired from the company in 1890 and left the company’s responsibility to his brother and sons. After a couple of years, Company received a huge contract for the construction of the Hobart electric tramway in Australia.

Siemens
Image source: www.jobriya.in

Siemens During Nazi Germany

In the 20th century, several activities of the company Siemens & Halske were merged with Schuckert & Co Nuremberg and the company’s name changed to Siemens-Schuckert. After the merger, Siemens-Schuckert became the seventh-largest company in Germany in terms of the number of employees. In 1932, another merger took place between Siemens and the other two companies which formed the present-day Siemens AG. Since Siemens was a German company, it didn’t have a good reputation in how it treated the laborers in the extermination camps. The company had a plant in Auschwitz and the company was known for supplying electrical parts to these Nazi camps.

Expansion of the Company

From the 1950s, the company started manufacturing computers, semiconductors, pacemakers, and washing machines. In 1980, the company rolled out its first digital telephone exchange and also started acquiring several companies. Some of these companies include Plessey, a UK defense and technology company, three solar module plants from ARCO, Nixdorf Computer AG, Industrial Systems Division of Texas Instruments, and many more. The company also started a joint venture with Advanced Micro Devices (AMD) which enhanced the business in the American market. In the late 1990s, Company opened its subsidiary, Siemens Financial Services for managing financial risks in the company. In 1998, the company made a big acquisition of $1.5 billion when it bought Westinghouse Power Generation and became a pioneer in the power generation market.

Company in Digital Era

In the 21st era, Company expanded its services and also started joint ventures with several companies. The company acquired the rail division of Invensys followed by LMS International NV in the same year. Nokia and Siemens started a joint venture and started Nokia Siemens Network but in 2013 the partnership came to an end when Nokia proposed a buy-out and acquired the entire Nokia Siemens Network. The same year, Company landed a huge deal with a middle east company called Saudi Aramco for manufacturing power plant components. The company also acquired the gas turbine and compressor energy business of Rolls Royce in 2014. Recently, Siemens Energy became an independent company and is not a part of SiemensAG anymore. The company is currently making efforts to expand its Healthline division and is planning to buy Varian Medical Systems for $16.4 billion.

About the Founder

Werner von Siemens, famous as the founder of SiemensAG was an electrical engineer and an industrialist by profession. His contribution in the field was so immense that his name was taken for the unit of electrical conductance. He completed his education at Prussian Military Academy’s School of Artillery and Engineering. After returning from the war, he devoured himself towards technology and soon invented the telegraph as the replacement of the morse code. He died on 6th December 1982.