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TIDAL Software Restructures for Growth.

Business Editors/High-Tech Writers

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--May 25, 2000

TIDAL Software Inc., leading provider of cross-application, cross-platform infrastructure management solutions for mission-critical applications, today announced it has made significant changes to its executive management staff and streamlined operations to keep up with the considerable growth it has experienced over the past year.

During this time, TIDAL's overall revenue doubled, license revenue increase more than threefold, and service revenue grew six times from the previous year. Other notable news during this time includes Microsoft selecting TIDAL as the Windows 2000 Go-to-Market Vendor for job scheduling; TIDAL passing Microsoft's Windows 2000 Professional Logo certification; and Hewlett-Packard adding TIDAL to its corporate price list, enabling HP's Enterprise Sales Force to sell sys*ADMIRAL and EXPRESS for UNIX directly.

Organizational change in the high-tech industry has become a standard more than an exception and is necessary to address rapid expansion and the dynamics of the marketplaces. TIDAL Software is no exception. Streamlining operations at TIDAL will ensure that products are delivered to the marketplace in a shorter time frame while at the same time maintaining the highest standard of quality, customer focus, interaction and service.

Promotions Part of the Process

The restructuring process included bringing on Lacy Edwards as chairman of the board. Edwards comes to TIDAL with over 30 years of experience propelling hardware and software companies to the forefront of their market sector. In 1996 Edwards founded Evoke Software and currently serves as chairman, CEO and president. Recently, Computerworld recognized Evoke as one of the top 100 software companies of 2000.

Edwards also served as president of Unison Software, developer of job scheduling product Maestro. Under Edwards' direction Unison went from $14 million in sales and a market value of under $15 million to a market value, after going public in 1995, of over $300 million by 1996.

For six years Edwards served as vice president of sales at Informatics Corporation which, at the time, was the third-largest software company in the world. In 1986 Edwards co-founded XA Systems and served as CEO. XA merged with Compware Corporation in 1991, forming the sixth-largest software company in the world. In recognition of his achievements, Harvard Business School named Edwards one of America's Top Ten Entrepreneurs of 2000.

Another key promotion went to Thomas Charlton, now president and chief operating officer. Formerly vice president of sales, Charlton played a principal role in doubling TIDAL's overall revenue and dramatically increasing license and service revenue. With a clear understanding of the organization and its marketplace, Charlton's primary focus is to grow TIDAL while continuing to build on the key components of its success -- customer-driven products, services and support.

Prior to TIDAL, Charlton served as director of sales at Legato Systems. While there he rebuilt the Western Area Direct Sales Team and increased sales from $7 million to $22 million in one year. Charlton began his career in management at Tyco International where he was promoted through the ranks to director of sales, growing the company to $220 million in annual sales.

Christian Iantoni, formerly director of North American sales, has been promoted to vice president of worldwide sales. Iantoni, also instrumental in TIDAL's rapid growth over the past year, has served for more than eight years in a range of technical consulting and sales capacities for such companies as PLATINUM Technology, Eli Lilly and Company and Andersen Consulting.

Gary Leight, founder of TIDAL Software, has assumed the role of CEO. Leight has served as chairman, CEO and president of TIDAL for over 15 years and has managed every area of the company including Marketing, Sales, Product Development, Customer Services and Finance. Leight's primary focus is on setting the strategic direction of the organization.

"TIDAL's new management team has the energy, drive and experience it takes to ignite this organization and to leverage our infrastructure management expertise to shift the paradigm to real-time event managing of operating systems and mission-critical applications. I believe this organization is going to lead the way in the B2B infrastructure management marketplace," said Edwards.

About TIDAL Software, Inc.

TIDAL Software is a leading provider of cross-application, cross-platform infrastructure management solutions for mission-critical applications. Its industry-leading products, such as sys*ADMIRAL, are uniquely designed to combine ease-of-use, exception-based management, scalability, comprehensive scheduling and fault tolerance to address the complex requirements of geographically dispersed organizations.

TIDAL's products enable system administrators to effectively schedule jobs throughout the enterprise using Windows 2000 and NT, UNIX, MPE/iX and OS/390 from a central point-of-control. A comprehensive systems management line for the HP e3000 is also available.

TIDAL's Fortune 2000 customer base includes Microsoft, Hewlett-Packard, E*TRADE, Warner Brothers, Abbott Labs, Agilent, Bank of Nova Scotia, Intria, GMAC-RFC and Promus Hotels.

TIDAL has offices in New York City, Chicago, Dallas and Virginia and over 11 key partnerships with such companies as Allegro, Advisa, Avots, ERP Link, VIPS, Bell Sygma, Stirling Systems, and DATASKILL International. For more information, contact TIDAL Software, 2581 Leghorn Street, Mountain View, CA 94043, 650/475-4600 or on the Web at http://www.tidalsoft.com.
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Publication:Business Wire
Geographic Code:1USA
Date:May 25, 2000
Words:844
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