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Thu September 27, 2012
UW's first spinoff business sold
A successful Laramie business that was started by a University of Wyoming doctoral student has been sold.
25 years ago Mike Kmetz founded the plastic materials information company IDES, which is credited as being the first spinoff business to come from the University of Wyoming. Kmetz sold the business to the Illinois Company UL, a world leader in workplace safety.
Kmetz says the company is recognized around the world.
“We handle data essentially that engineers would use to find the best materials for their job," Kmetz said. "And today we have about 350-thousand users that are spread across the entire world that make use of our services. The database operates in about seven languages now and is utilized pretty extensively from our audience throughout the world.”
Kmetz remains as the managing director of the company which has 17 employees and he says it will remain in Laramie. He says his sale might actually allow the company to grow.