William T. Coleman ex-CEO and founder of BEA Systems has launched a new start-up. Cassatt plans to

"...provide the infrastructure software and services to allow customers to more efficiently and effectively implement enterprise wide grid computing and service oriented architecture. Based on this foundation, Cassatt will provide the capability for our customers to achieve the benefits of autonomic computing."

"Earlier this year, Bill realized that another wave is about to begin, driven by the Convergence of Grid computing and Services Oriented Architectures. This dislocation will require a new underlying system infrastructure to unify, simplify and extend these emerging technologies and management systems."

That's what I call ambitious given the state of most of these technologies. But apparently he has the experience to know what he is talking about. My guess for their first round is USD 50 mio in valuation...