Cognotec: Thriving Despite Softbank Pull-Out
VENDOR UPDATE
LONDON—Foreign exchange (FX) technology vendor Cognotec has lost Softbank as a financial backer, but the pull-out, which happened two years ago, will not affect Cognotec's progress, says its CEO.
Softbank, a Tokyo-based financial institution, withdrew its support for Cognotec after having spent more than $40 million on the company, says Cognotec's CEO and founder, Brian Maccaba. Softbank took the decision two years ago, after being burned by the Internet boom and bust, Maccaba tells DWT.
In the
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