Global tech company Broadcom Inc. acquires Stillwater-based Hostbridge Technology | Local News
For the previous two decades, Hostbridge Engineering has been a residence-developed achievement tale, leveraging technologies to serve clients about the planet from downtown Stillwater. But adjust has appear.
CEO Russ Teubner declared Tuesday on his Fb account that the company he co-launched with Chief Technological Officer Scott Glenn in 2000, has been obtained by Broadcom, Inc. a world-wide business that manufactures and supplies semiconductor and infrastructure software package utilised by the wi-fi and broadband communications market.
The firm, which is headquartered in San Jose, California, experienced earnings of $27.45 billion very last calendar year.
Teubner explained he can’t discuss for Broadcom, but dependent on his knowledge, he expects the Hostbridge Engineering name to keep and become the umbrella for a broader initiative from Broadcom that also focuses on integrating legacy mainframe computer system systems with more recent and cloud-based apps.
“Their commitment is to take the nucleus of what we’ve designed and increase to it,” he claimed.
Several corporations, specifically all those in banking, insurance policy and manufacturing, nevertheless depend on IBM mainframe platforms and it would be particularly highly-priced for them to modify, Teubner discussed. Hostbridge technology has specialised in helping its purchasers obtain strategies to combine their present mainframe “host” methods with newer technologies, that’s why the company’s name.
He mentioned mainframes can actually be the most impressive, value-effective and protected platforms for many companies, and IBM carries on to refresh and increase its software. In spite of predictions he’s heard for the previous 40 years, mainframe desktops are not heading absent, he reported.
Teubner sees prospect for advancement in the sector Hostbridge serves and the access of the new corporation signifies it can be carried out on a more substantial scale.
He’s prepared to shift forward and suggests it will be a journey, just as it was the past time. As a serial entrepreneur, it is portion of the process.
The technological team – most of Hostbridge’s tiny function drive in Stillwater – will transfer ahead with Broadcom, though income and advertising will be cut mainly because Broadcom has its own gross sales and marketing.
Just one career in Stillwater will be cut, he explained. Contract profits and internet marketing personnel in other towns will also be reduce.
Teubner has fully commited to remaining with the business and explained he has incentives to do so. He claims he’ll eventually have much more versatility to work on matters that desire him, including the pile of tasks he’s dreamed up but hasn’t experienced time to get the job done on.
He plans to carry on performing from the workplaces his business occupies at the corner of Seventh Avenue and Primary Street and claimed he believes most other personnel will as perfectly, whilst some may possibly choose the prospect to perform from dwelling.
Teubner sees growth as a likelihood and designs to beef up his staff. There is no promise exactly where people work opportunities will be, he explained, while Broadcom is intrigued by Stillwater mainly because of its expense of dwelling.
He thinks the metropolis has much to advocate it.
“This is the second time that I have began a company in Stillwater, developed it for about 20 decades and marketed it to a community corporation,” Teubner mentioned. “It’s every single entrepreneur’s aspiration. But it also states a thing else … It says you can start out a company in Stillwater and mature it as far as you can and exit perfectly.
“To me, what this suggests, if anything at all, is that Stillwater is an definitely wonderful put to start out a small business, regardless of whether your consumers are community, regional or global. Creativeness and tricky perform do not respect your zip code and in the entire world we are living in now, no just one cares what our zip code is as very long as you can provide company worth for them.”