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Swiss Meltdown
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Just when things look their worst, the most unlikely development takes place to save a failing company in Zurich.
Esmertec, a developer of embedded Java software for mobile phones, set-top boxes, and telecom operators, seemed to have it made.
The Zurich-based company started out in 1999 focused primarily on mobile handsets—one of Europe’s tech strengths—raising €40 million from venture capital firms Sofinnova and Earlybird. The former CEOs of France Telecom, Swisscom, and chipmaker Infineon all joined its board.
Time and Red Herring both called it one of Europe’s hottest startups….. Source: Red Herring