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Concurrent Thinking partners with Oxford Capital Partners

Concurrent Thinking Concurrent Thinking has recently secured £1.7million in funding. The round completed with an investor syndicate led by Oxford Capital Partners, introduced to the company last year at the Connect Midlands' Investment Conference (CMIC).

Dr Victor Christou, Investment Manager at Oxford Capital Partners, said 'Oxford Capital Partners has found Connect Midlands events to be a very useful way to uncover new investment opportunities with exceptional potential. We first saw our portfolio company, Concurrent Thinking, at the Connect Midlands' annual Investment Conference in 2005, followed up with a meeting after the event and subsequently made an investment. The conference in 2006 was equally interesting and we have already spoken to a number of companies who presented at that meeting as a result. I think that the Connect Midlands' network is a great way to meet exciting entrepreneurial businesses from the Midlands who are looking for funding'

Concurrent Thinking Limited (formerly Streamline Computing) is the UK's leading company in the High Performance and Technical Computing ('HPTC' or 'Supercomputing') market.

Concurrent Thinking was founded in 2000 when it was spun out of Warwick University's Department of Computer Science with the objective of exploiting both its expertise in building cluster supercomputers and its IP in large scale parallel computing. The Company has since developed a range of products for this fast growth arena which are marketed through its software arm, Allinea Software. Allinea has been successful in achieving significant penetration for these products, primarily within Europe but with key sales in the US and Japan.

As the company developed the marketplace for its products, its principle revenues have been from its system integration arm, Streamline Computing, which has provided cluster integration services to over 150 supercomputer clusters worldwide. Customers include 35 of the UK's leading Universities, Corus, Schlumberger, Serco Assurance, Chevron Texaco, Renault F1, and Rolls Royce - the latter having selected Concurrent Thinking as its global supplier. Streamline has also generated a significant amount of IP and know-how, and some of this is encapsulated in its existing Cluster Monitoring and Management (CMA) appliance which it ships as a standard 'added-value' component of its systems.

Concurrent is now looking to expand both areas of its business. This will be achieved through increased sales and marketing for Allinea's software products, and by addressing a new market for parallelism for embedded multi-core/multi-threaded chips. At the same time, the company wishes to scale Streamline's successful cluster business through a unique productization strategy.

'Over the lifetime of the company, Concurrent Thinking has demonstrated exceptional growth while investing significantly in R&D. We welcome the new partnership with Oxford Capital Partners and the Forward Group, as well as the continued support of existing investors such as Midven, in helping us to achieve our ambitious goals' said Dr Michael Rudgyard, CEO and founder.