i2 heads move on

NEWS Former i2 president Reagan Lancaster has taken the helm at a new incubator firm aimed at resurrecting software intellectual property projects abandoned during the economic down turn. Former i2 CFO, Dave Carey, and Claudio Osorio, former head of an i2 division that funded start-ups, have also jumped ship to join Lancaster at the new company Titan Ventures. The company plans to acquire intellectual property that would otherwise be written off by companies streamlining their product lines, and market it to firms who will use it. Titan said it will offer jobs to the developers and support staff behind the technology it acquires, while former owners will receive a 19 per cent stake, a percentage of revenues and the opportunity to buy back the technology once the market picks up. Lancaster's former employer i2 proved the market is still very much down by posting a $5.5bn loss in third quarter results yesterday.