Friday, July 11, 2008

Aeturnum turns toward software development

By Christopher Calnan

A Westford-based software consultancy has moved into the product business, launching a software application development platform that it plans to grow into a major part of the business.

The 82-employee Aeturnum Inc. plans to grow its local development group from seven to 25 with software targeted toward startups looking for a core application platform to shorten the time it takes to get new software to market, said CEO Rajat Bhakhri, who founded Aeturnum in 2001.

“The company is clearly taking a new direction,” he said.

Aeturnum’s development software, Athiva, launched late last year and is Java-based. Customer Argosy Publishing LLC, a Newton company that creates graphics for education publishers, bought Aeturnum’s software to develop an interactive web tool that enables viewers to manipulate a human body illustration, Argosy COO Daniel Rausch said. Argosy shaved off about 50 percent of its development time and costs by using Aeturnum’s platform rather than building it from scratch, he said.

It’s common for software services firms such as Aeturnum to develop core software after identifying client needs, said Neal Boornazian, CEO of Wilde Interactive LLC, a Holliston-based consulting firm. “Having a platform may give them stability and recurring revenue,” he said.

Last year, Aeturnum generated about $3.9 million in revenue and is on track to reach $5.5 million this year, Bhakhri said. Aeturnum’s software business comprises 15 percent to 20 percent of overall revenue, but Bhakhri expects to grow that figure to 70 percent within two years.