Big companies in the 1990s ran dozens of computer systems that could not talk to each other. A bank's trading system, its accounting system and its customer records all spoke different languages. New Era of Networks, called NEON, sold the translator. Its NEONet software sat in the middle and moved messages between them. In June 1997 the Colorado company went public on a fresh idea with a dull name: application integration.
Built on Wall Street Plumbing
Rick Adam founded NEON in June 1993 and began operations in January 1994. He served as chairman, chief executive and president. NEON first built its software for financial firms, a demanding market where errors cost money. It leaned on its founders' experience in that industry and on early customers who worked with it on the product. The plan was to move from finance into health care, telecommunications and other industries with the same tangle of systems.
Twelve Dollars, Then Sybase
NEON priced at $12 a share in June 1997 and listed on Nasdaq as NEON. It sold more stock in 1998 and 1999 and used its shares to buy other software companies. Integration software turned into a crowded field as rivals and big vendors joined in. In March 2001 the database maker Sybase launched an offer to buy NEON. The deal closed that year, and NEON ended its public registration in June 2001.
Cover: Women watching fireworks at Sumida River, Kitagawa Utamaro. Art Institute of Chicago, public domain. Chosen for fireworks lighting the night (neon).