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Broomfield, COLO November 1, 2005 - OpenLogic, Inc., the leading provider of software and services that enable enterprises to easily create and manage their own integrated, commercial-grade open source environments, announced today three new developments. 1) Software industry veteran, Steven Grandchamp, has joined the company as President & CEO; 2) The company has added UV Ventures as its newest investor and; 3) The company has added industry veteran Carl Ledbetter to its Board of Directors.
Steven L. Grandchamp has joined OpenLogic as President and CEO. Mr. Grandchamp has over twenty-five years of experience in the software industry, where he has served in executive roles for both vendor and IT customer organizations. He was formerly President and CEO of Information Management Research where he led the companys move into Enterprise Content Management. He successfully positioned IMR for sale to Captaris in early 2005. Prior to that, he was Vice President and a principal shareholder at American Fundware, where he was responsible for the companys software development effort and part of the executive team that positioned the company for a successful sale to Intuit. Prior to American Fundware, Mr. Grandchamp held various senior management positions with Microsoft including the application development segment of Microsoft Consulting Services. Mr. Grandchamp was a founding partner of Formation Technologies Inc, a software company for the banking industry that emerged as a leader in the loan origination segment. FTI was successfully sold to the John Harland Company in 1994. Mr. Grandchamp spent the early part of his career in progressively responsible IT roles in the banking industry.
"OpenLogic helps enterprise customers take the risk, complexity and cost out of using open source software in their development and production environments," said Steven Grandchamp. "We help our customers solve very real problems surrounding the management of open source and the compliance with open source policies in their organizations, especially for customers with mixed Linux and Windows environments. I'm excited about OpenLogic's opportunity for growth as more customers look for help in preserving the flexibility and cost savings derived from open source software, while managing and monitoring the key risk areas presented by the introduction of open source into their business."
UV Partners, an early stage private equity investment group, has recently joined OpenLogic's Series A investment round. OpenLogic will use the funding to continue expanding its development, sales and marketing efforts. This new investment by UV Partners adds to the $4 million in venture capital investment the company raised earlier this year.
Carl Ledbetter, Information Technology partner at UV Partners, has joined OpenLogic's Board of Directors. Prior to joining UV Partners, Dr. Ledbetter was Senior Vice President of Engineering/Research and Development and CTO at Novell, Inc., a leader in open source software for the enterprise. Dr. Ledbetter was also responsible for Novells Venture Fund. Prior to Novell, he held positions as President of AT&T's Consumer Products Division, CEO of ETA Systems, a CDC subsidiary, VP at Sun Microsystems where he ran the company's PC Networking division, and Director of IBM's Kingston Laboratory.
"With its breakthrough software technology for helping companies manage their open source environments, OpenLogic is well positioned over the next several years to take advantage of the rapid growth in enterprise use of open source software," said Carl Ledbetter. "We're bullish on the open source segment, OpenLogic's product approach and its experienced management team."
UV Partners, established in 1986, is a leading early-stage investment group. Specializing in private equity, UV Partners provides the foundation for early-stage entrepreneurial concepts to develop into tomorrow's leading IT and science companies. Partners utilize a hands-on approach to develop each portfolio company into industry leaders. For more information on UV Partners, go to www.uvpartners.com.
OpenLogic is a leading provider of software, stacks and services that enable enterprises to easily customize, deploy and manage commercial-grade open source environments. OpenLogic's software automates the integration and deployment of any combination of 150 pre-certified open source packages along with proprietary or commercial solutions. The OpenLogic solution also mitigates open source legal risks by enabling companies to manage and enforce open source policies. OpenLogic's technical support and update services give enterprises the commercial-grade reliability they demand. OpenLogic is currently used by 700 customers worldwide. For more on OpenLogic, go to www.openlogic.com.
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