Accelware Corp raises $8 million in separate deals

Guest Contributor
February 5, 2007

Calgary's Accelware Corp has received $8 million in new financing through two separate transactions to further develop its software to reduce the run-times of high performance computing (HPC) applications. The first agreement sees a $2.9-million investment by NVIDIA Corp, Santa Clara CA, a global leader in graphics processor unit (GPU) technologies used for computing, consumer electronics and mobile devices. Accelware and NVIDIA are collaborating on the deployment of GPUs to accelerate non-graphics software applications such as cell phone design, printed circuit board design, nanophotonic communications device design and seismic data processing. The second agreement is a bought-deal financing, private placement agreement with Northern Securities Inc and Northern Financial Corp worth $5 million. Proceeds will be used for sales, marketing, capital equipment, working capital and ongoing development of acceleration products for the electromagnetic simulation and seismic data processing markets....

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