Internet software company Bullant today announced it will shed 29 of its local sales and support staff and adopt a reseller sales model as it continues to focus its direct sales on overseas markets.
Bullant has announced a whopping $40 million of capital raised from a consortium of investors, led by JP Morgan Equity Partners. This investment is subject to final documentation and due diligence, and is expected to be completed by late February in order to fund the company's move toward a global OEM strategy.
At home, 29 staff in sales, marketing and support positions have been offered retrenchment packages as the company moves to a channel model, reducing total staff numbers by around 20 per cent. Stephen Elliott, marketing manager at Bullant, said Australia is the only country where the company will embrace the reseller model as it has an established presence and a level of recognition in the local market.
The company will soon announce its first reseller agreements, seeking companies with software implementation and development skills to serve the Australian market. Bullant will also be looking to encourage these integrators to employ the skilled sales and support staff it has let go in order to change its sales strategy.
Bullant's OEM strategy will involve the establishment of offices on both the East and West Coast of the US, in an attempt to attract the attention of large telcos and device manufacturers around the world.