CEO Powell was not willing to divulge his ASA game plan today. "It's too early for that," he says, refusing to confirm whether the vendor has a new controller in the works.
The exec adds that, despite today's cash influx, the ASA-based technology is unlikely to hit the market anytime soon. "It's probably within the realms of 2008, certainly 2009," he says. "Its a big undertaking."
Today's funding was purely to support the ASA acquisition, according to Powell, looking to dispel any question-marks over the state of Xiotech's finances.
"The company is profitable for nine out of the last ten quarters, so it's not as if we needed to raise money," he explains. "We got the money that we needed to bring [the ASA Group's] technology to market."
Despite Xiotech's recent performance, the vendor is somewhat less forthcoming about other aspects of its financials, and has not revealed its total funding figure to date.
By combining resources and expertise, the AI-Enabled ICT Workforce Consortium will offer a blueprint for how industries can adapt to an AI-dominated future.
IT leaders should heed the guidance of cybersecurity insurance providers who think businesses should prioritize security education, incident preparedness, regular internal audits, and ongoing vulnerability scanning and patching.
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