targets within sight for cu2

Targets within sight for CU2

FRAN FOO THE AUSTRALIAN APRIL 15, 2014 12:00AM


Andrew Dale, CU2 Global president says the company can complete conversations faster and cheaper than even Microsoft. Source: News Limited
A MELBOURNE firm specialising in converting Microsoft Access databases to newer ­platforms is eyeing a trifecta: a Nasdaq listing, a market capitalisation of more than $US500 million ($532m) and a global deal with the software giant.

CU2 Global is one of a few companies in the world providing a fully automated solution to convert and migrate legacy ­Access databases to Microsoft Sequel Server.

According to CU2 Global president Andrew Dale, the company can complete conversations faster and cheaper than even Microsoft. On one project Microsoft quoted an organisation $1.3m over 96 weeks to convert Access to SQL but CU2 managed to do it for $120,000 in six weeks, he said.

Mr Dale said he hoped to take the company public on the US bourse within eight months. The decision is in line with plans to grow the business in North America, he said. Microsoft estimates that there are 490 million Access databases globally that could be converted to SQL.

Mr Dale said he expected CU2 to achieve a market value of more than $US500m within the next three years.

CU2 was in talks with Microsoft on global product development and deployment of Access customers who want to adopt Microsoft’s Azure cloud computing ­platform.

“Access doesn’t work in the cloud (so) we’ve been talking with Microsoft on how we can create an Azure instance (of the database),” Mr Dale said.


http://www.theaustralian.com.au/technology/targets-within-sight-fornbspcu2/story-e6frgakx-1226884181166