Software house Onyx Technologies, which deals with the development of engineering information management software, manpower training and organizational consultancy for large corporations, has spun off into two separate companies. One company is MOST, a start-up with a payroll of thirty that develops new applications for the post 2000 market.
Onyx general manager and chairman of the new company Yona Shoham, said the purpose of the spin-off was to prepare for the conversion market after the year 2000. "We are seeing customers change over to new, advanced technologies, hand in hand with the demand to preserve all the tremendous knowhow invested in developing the old systems," he said.
Danny Marom, joint general manager of the new company, said that employees of the new company have so far dealt with Y2K projects in Israel and overseas. Among these, the company carried out an interesting project for complete Y2K conversion - software correction and replacement - for a large overseas concern. It was conducted over the Internet, without the employees traveling to the customer’s physical location.
The new company is jointly owned by Onyx (66%), and the four senior employees: Danny Marom (joint general manager), Moshe Shihrur (joint general manager), Vladimir Gaker (development manager), and Oleg Shulman (development manager).
MOST develops software that enables large organizations to transfer information and applications from large databases and mainframe computers to new technologies, including Oracle and IBM new databases, and also to HTML (Internet language).
The company’s target market is large corporations such as airline companies or banks in the US and in Europe. Marom said one of the aims of the spin off is to co-opt an investor for the new company.
Published by Israel's Business Arena July 11, 1999