Accelware Raises $8M
January 23, 2007 by Mark Evans
Filed under Business
Calgary-based Accelware Corp., which develops technology that reduces run-times of high-performance computing applications, has raised $7.95-million, including a $2.95-million strategic investment from graphics chip-maker NVIDIA Corp. Fundamental Research Corp. recently initiated coverage of Accelware with a “buy” rating and a target price of $4.50. The investment firm said revenues are expected to grow substantially over the next three years as the company moves deeper into the electromagnetic simulation market and other new markets.
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