The performance of translated code compared to native code is currently at 45 percent. The goal is to have a performance level of 80 percent or more, but that probably won't be the case for the first production ready version of the product.

"We think it will be lower and there's a good reason for that," Konukhov said. "We've discussed this issue with our partners and they were more interested in the functionality supported by our emulator and in stability rather than performance. So, they would like to see working and stable software rather than fast software."

The performance enhancing work will begin after the initial product is released and a 80 or 90 performance level is expected to be achieved in a matter of months, Konukhov said.

The company worked with partners and potential customers to determine which applications should be considered a priority for its x86 to ARM binary translation technology. Konukhov declined to name any of those applications because of existent non-disclosure agreements, but said that they are from the financial and healthcare sectors.

A lot of the people working on this project came from MCST, Elbrus Technologies' parent company, where they worked on developing x86 to Elbrus binary translators, Konukhov said. Elbrus is a Russian microprocessor manufactured by MCST.