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.
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