Monday, June 2, 2008

Credit Suisse launches DynamicOps

By Efrain Viscarolosaga

Swiss banking giant Credit Suisse Group launched a new spin-out today, aimed at taking a virtualization management platform developed in-house to a commercial market.

The new company, called DynamicOps LLC, is based in Burlington and is being funded by an undisclosed amount of capital from Credit Suisse’s Next II venture group. Rich Krueger, a former executive at local storage virtualization equipment maker Incipient Inc. and CEO of DynamicOps, said the company is being operated “like a venture-backed firm” and that the amount of the funding is “substantial.”

The company’s virtual management product was originally developed internally by Credit Suisse’s Global Research and Development Group in 2005, after the company couldn’t find an external product to manage the firm’s growing virtualization infrastructure, officials said. The company has since rolled the product out to a variety of divisions across the company.

DynamicOps’ virtual management software allows enterprises to bring many virtual assets under one management platform, according to officials.

“One of the nice things is that, as a new company, we have an actual demonstration customer in Credit Suisse, which is an advantage,” said Krueger.

The company’s first product is focused on virtual desktops and server environment, but according to Krueger, who has also had stints at Hopkinton-based EMC Corp., the firm will eventually move into other network layers, including storage.

Krueger said the 15-employee firm is in the process of building customer relationships with several firms but declined to name specific companies. Industries of focus, he said, include shipping and public utilities.