LogicLibrary Announces Executive Team; Industry Veterans Head Up Forward-Thinking Organization to Help Corporations Capitalize on Web Services.

Business/Technology Editors

PITTSBURGH--(BUSINESS WIRE)--June 18, 2001

LogicLibrary, Inc., the leading innovator in asset management for application assembly, today announced its executive team. Co-Founder and Chief Executive Officer Ellen Milantoni heads up a highly qualified management team, each bringing an average of more than 20 years in the enterprise software industry from the technical, sales, marketing, professional services and publishing perspectives. Under Milantoni's guidance, LogicLibrary will incorporate solutions and services to help its enterprise clients improve efficiency, increase ROI on application development projects and position themselves for Web services and the next wave of enterprise e-commerce. (See today's related announcement for more information on LogicLibrary.)

The LogicLibrary executive team is comprised of seasoned executives from a wide range of organizations including IBM, Inprise/Borland, Transarc, Object Magazine among others. Their collective expertise in Component-Based Development (CBD), reuse and enterprise-level IT management has inspired a vision for helping enterprise IT teams become more agile and responsive through application assembly. The key to this emerging approach for application development is effective and efficient asset management that extends beyond components to include Web services, encapsulated legacy applications, frameworks and other key building blocks.

As CEO, Milantoni sets the vision and overall strategy for the company, with hands-on involvement directing all corporate strategic business initiatives and partnerships, funding, marketing and product development. In the past 20 years, Milantoni has earned a reputation for excellence and strategic leadership in the enterprise software industry. Her extensive management and sales background working with larger organizations has given her a keen perspective on existing and emerging technologies, such as Web services, as well as the challenges corporations face in enterprise application development. Prior to founding LogicLibrary, Milantoni served as vice president of sales for Inprise/Borland, a leading provider of application servers and integrated development tools, where she was instrumental in transforming the company from a desktop sale to an enterprise software sale and drove increased revenues for distributed object development and application. With a passion and significant track record for bringing nascent technologies to market, Milantoni helped pioneer the distributed computing space at Open Environment Corporation (OEC). Leading business development, she was instrumental in driving the $3 million company through a successful IPO to become a $30 million/year business in two years before Borland acquired it. Milantoni is a 10-year veteran of IBM, where she served as global account manager handling billion dollar clients and earning numerous awards for top sales performance.

In addition to Milantoni, the team includes:

-- Mark Vernallis, Co-Founder and Chief Operating Officer 

Vernallis brings to LogicLibrary more than 20 years of experience in financial and operational management, corporate development and venture capital. Most recently, Vernallis served as chief operating officer at Pittsburgh Plastics, an advanced materials company. He was also principal in two venture capital firms: the founding partner at Keystone Minority Capital Fund, L.P., and KOPVENCO. Vernallis also held corporate-level financial management positions at Westinghouse, where he directed the financial planning for the company's domestic and international activity.

--Brent Carlson, Co-Founder and Vice President, Technology

A 17-year senior architect of IBM, Carlson is well-known for leading several key IBM initiatives. Most recently, he was the lead architect for the WebSphere Business Components project, providing the overall technical direction for the EJB-based component development product. He also led the business object development group for the "IBM San Francisco Project," a consortium of more than 100 companies united by the mission of providing a framework for Java-based application business components. Carlson's work on the San Francisco Project provided him with a wealth of international experience and the fodder to co-author his book, San Francisco Design Patterns: Blue Prints for Business Software.

--Greg Sherman, Vice President, Business Strategy

As vice-president of business strategy, Sherman is responsible for marketing, product management and business development. Sherman comes to LogicLibrary with 18 years of experience in the IT industry, the last 16 working for IBM. Most recently, he led the strategy work for IBM's WebSphere component initiative and served as the release one product manager for WebSphere Business Components.

-- John Racioppi, Senior Vice President, Sales

As senior vice president of sales, Racioppi drives revenue production and directs sales strategy for LogicLibrary. Racioppi brings more than 20 years of successful sales and management experience in the enterprise software industry. Most recently, he served as vice president of worldwide sales for Lutris Technologies, an organization that builds open source application servers. As vice president and general manager of North American sales for Inprise Corporation (now Borland), Racioppi led a team of more than 100 employees and was responsible for generating over $100 million in sales revenue.

-- Marie Lenzi, Vice President, Professional Services

As vice president of professional services, Lenzi brings to LogicLibrary more than 30 years of commercial systems development and consulting and a deep understanding of the behavior and culture of IT groups. Lenzi was the founder and managing director of Syrinx Corporation, a New York-based consulting organization, where she oversaw strategic consulting for corporations that focused on object technology, software development and education. Previous to her leadership of Syrinx, Lenzi also worked as an in-house consultant for Dupont, JP Morgan, Bell Labs, Digital, IBM, AT&T, Stanley Tools and numerous others. Additionally, Lenzi has worked in publishing since 1989 and was the founding editor of Object Magazine.

"The experience of our executive team will be invaluable as we help corporations implement an application assembly approach and leverage emerging technologies such as Web services," said Milantoni. "Our cutting-edge technology that tightly aligns application development with business strategy, combined with our team's unparalleled expertise in enterprise-level application development will help corporations everywhere evaluate and adapt their internal and external IT processes to better prepare for the next wave of enterprise e-commerce."

"This company has built a compelling team of executives, each of whom has spent more than twenty years involved with component-based development initiatives from a variety of perspectives," said Tom Dwyer, managing director, enterprise and Internet infrastructure, Aberdeen Group. "This team combines a depth of understanding and empathy with Component-Based Development issues and customer challenges. They have coupled this inherent strength with a commitment to advance the value of software reuse and emerging technologies including Web services."

As a result of increased pressure to meet time-to-market deadlines amidst scarce IT resources and the advent of emerging markets such as Web services, corporations are adapting their internal and external business processes to be faster, more efficient and more responsive to change. GartnerGroup predicts that by 2003, 70 percent of all new applications will be built primarily from components. LogicLibrary's mission is to help enterprises be more agile and responsive to today's business needs by improving their ability to rapidly assemble customized business applications using built, bought or existing assets. The LogicLibrary solution enables companies to drive products to market faster, improve quality and consistency across the development lifecycle and ultimately leverage dynamic business Webs to strengthen relationships with partners and customers.

About LogicLibrary

LogicLibrary, the leading innovator in asset management for application assembly, provides tools and services that help enterprise application development teams more efficiently and effectively create and deliver custom solutions that map to their company's ever-changing business needs. LogicLibrary's ubiquitous development environment, patent-pending technology and business process modeling enables IT teams to capture, leverage and manage pre-built solution assembly assets for the most rapid and cost-effective assembly of today's new breed of enterprise business applications. LogicLibrary received first round funding from REBAR, a $1+ billion technology operating and holding company that is headquartered in Norwood, MA and Superior, CO. LogicLibrary is headquartered in Pittsburgh, PA, with offices in California and Minnesota. For more information, visit http://www.logiclibrary.com