The Marker, March 4, 2004
Matrix to market Digital Fuel systems in Israel
|Matrix (TASE: MTRX) will be marketing software systems for startup Digital Fuel. The two companies signed an exclusive marketing agreement covering the Israeli market.
Digital Fuel has developed outsourcing resource management solutions to handle an enterprises connections with service providers, for instance external companies handling manpower, switchboard services and storage.
Its flagship product, Service Glow, helps client organizations to automatically track and monitor the quality and performance of added-value services.
Matrix's software division will position the Digital Fuel systems as a means to track, control and report on the performance of both outsourced and internal services and operations.
Digital Fuel was established in Jerusalem in 2002. To date it has raised $12 million from investors. Its shareholders include Israel Seed Partners, Benchmark Capital, Sigma Partners, Apropos, and Check Point Software Technologies (NASDAQ:CHKP) co-founder Shlomo Kramer.
Its client list is star-studded, including Bank of America, GE, IBM, Sun Microsystems, mm02, and Doubleclick. Also, Digital Fuel has a cooperation agreement with the German giant SAP. The company's revenues are thought to have reached about $4 million in 2003.
Matrix is a member of the Formula Systems (TASE: FORT, NASDAQ:FORTY) group of companies.