Thursday, May 30, 2024

Bluware. Start to sale in five years and one post

 Bluware was the result of a merger of two tech companies. One was a software company (actually TWO software companies, Hue and Headwave, but for the purposes of this post we will just call them Hue. Maybe I will elaborate more later) and a services company called Bluware.

Hue was an infrastructure company that specialized in moving large amounts of data very, very fast. This had to do with the way we stored data (as objects) as well as the compression techniques we used to store data both losslessly and lossy. The lossy was for use of the data, the lossless compression was for archival purposed (the lossless compression was round tripable and checksum equivalent) 

Bluware was a company that was created to fill the niche of oil companies needing developers, but not wanting to deviate from their "core competencies". The result was that Bluware created a company filled with amazingly competent developers who could work on a project throughout its lifetime and deliver to the clients (well, mostly Shell Oil) something they didn't really want to do on their own.

The merger of the two companies created a juggernaut tech company that could leverage ideas coming from clients so there was a built in market along with new software that nobody else could touch.

The data structure created by Hue turned out to be very well suited to deep learning techniques, and the collaboration with the clients meant that we created a product nobody had seen before - a true interactive deep learning module that eliminate the black box nature of deep learning while speeding up interpretation time by two orders of magnitude. (yes, that is right. by 100 times. One client told us what used to take them two months now took them two hours)

That was then leveraged into a 40% compound annual growth rate and a 20% EBITDA.

THAT was then leveraged into the sale of the company to an old-line Canadian geo-software company that was looking for some new markets and new ideas:

Bluware acquired

I took this opportunity to retire.