The Palo Alto Research Center said on Tuesday that it is spinning out PowerCloud Systems, a start-up that has been incubated at the research unit of Xerox.
PowerCloud focuses on cloud technology, aimed at hardware manufacturers, that makes it easier to deploy and manage business networking devices. The company's technology is based on Palo Alto Research Center (Parc) patents — two of which are exclusive to the unit and eight shared, according to a Parc statement. These patents focus on cloud-virtualised network controllers and security tools.
PowerCloud is calling its technology a "networking cloud operating system".
Parc incubates and invests in start-ups and then can cash in later. Parc also gets royalties, equity and licensing fees. Walden Venture Capital and Javelin Venture Partners will also invest in PowerCloud along with Parc.
For more on this ZDNet UK-selected story, PARC spins out cloud networking startup PowerCloud on ZDNet.com.