Daniel F. Gillis Named Chairman of the Board of SAGA SYSTEMS, Inc.Business Editors/Hi-Tech Writers RESTON, Va.--(BUSINESS WIRE)--April 11, 2000 SAGA SYSTEMS The SAGA System is a role-playing game system that uses "fate cards" to determine the effects of actions. The cards have numbers, suits, positive and negative states, and role-playing cues that guide the gamemaster in telling the story and administering the game. , Inc., (NYSE NYSE See: New York Stock Exchange :AGS AGS American Geriatrics Society. ), the parent company of SAGA Saga, city, Japan Saga (sä`gä), city (1990 pop. 169,963), capital of Saga prefecture, W Kyushu, Japan. It is a railroad and coal-distribution center. Cotton textiles and ceramics are produced in the city. SOFTWARE, Inc., announced today that CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President Daniel F. Gillis has assumed the additional role of Chairman of the Board of the company. Gillis will continue to serve as the President and CEO. Gillis started his career with IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) in 1972 and later held senior management positions at Exxon Office Systems, WANG and Falcon Microsystems before joining the company in January of 1995. In March of 1997, Gillis led the company's buyout Buyout The purchase of a company or a controlling interest of a corporation's shares. Notes: A leveraged buyout is accomplished with borrowed money or by issuing more stock. from its former parent company, Software AG of Darmstadt, Germany. Subsequently, in November of 1997, Gillis led SAGA's initial public offering. Gillis replaces Carl J. Rickertsen. Rickertsen is a partner in Thayer Capital Partners, a private equity investment firm based in Washington, DC. In March of 1997, Thayer Capital made a large investment in SAGA, and Rickertsen has served as Chairman of the Board since that time. Rickertsen will remain a director of the company. "I am honored to be named Chairman of the Board," stated Gillis. "I want to thank Rick Rickertsen for his outstanding leadership, and for the mutually rewarding relationship held by Thayer and SAGA that has helped SAGA to achieve its many accomplishments over the past 3 years." "Through his exceptional leadership of the company, building a strong management team and a leading e-business integration product in Sagavista, Dan has truly earned his role," stated Rickertsen. "Dan is a tremendous executive with unlimited potential." About SAGA SYSTEMS, Inc. SAGA SYSTEMS, Inc. (NYSE: AGS) is the parent company of Reston, Virginia-based SAGA SOFTWARE, Inc. (SAGA(TM)), which offers a full suite of e-business integration and enterprise systems software that extends and supports billions of mission critical transactions daily for some of the world's largest organizations. SAGA's products and services leverage existing IT investments by connecting a customer's legacy and packaged applications with the newest e-business processes and applications, enabling its customers to free their information from the heart of the enterprise to the desktop. For further information, please visit the Company's Web Site at www.sagasoftware.com. About Thayer Capital Partners Thayer Capital Partners is a private equity investment firm that controls positions in 14 operating companies operating company A business that engages in transactions with outsiders. with a total revenue of more than $2.1 billion. Providing entrepreneurial en·tre·pre·neur n. A person who organizes, operates, and assumes the risk for a business venture. [French, from Old French, from entreprendre, to undertake; see enterprise. perspective and expertise in building companies through consolidation, Thayer Capital Partners manages private equity funds focused on generating superior equity returns through acquisitions of, or ventures with, companies in a variety of targeted industries including information technology, travel and leisure, electronics and outsourced manufacturing and services. |
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