Versata Hires Former Informix VP to Enhance R&D Efforts; Tim Child Brings 25 Years of International Software Product Development Experience to Versata.Business Editors OAKLAND, Calif.--(BUSINESS WIRE)--Nov. 19, 2002 Versata Inc. (Nasdaq: VATA vata /va·ta/ (vah´tah) [Sanskrit] in ayurveda, one of the three doshas, condensed from the elements air and space. It is the principle of kinetic energy in the body, is concerned with the nervous system and with circulation, movement, ), a leading provider of software and services that automate the business logic and processes that power enterprise applications, today announced it has appointed Tim Child Tim Child born, 1946 is a British television producer. He is most famous for creating and producing the cult children's television program Knightmare, a fantasy role-playing adventure game which pioneered virtual studio or blue-screen prodution. , a seasoned executive in international software product development, as Vice President of Engineering and Product Management. In this new role, Mr. Child will be responsible for managing Versata's worldwide engineering department and product management operations and helping to define Versata's future technology and product roadmap. He will be reporting directly to Eugene Wong, 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. . "We feel extremely fortunate to have attracted Tim to the Versata team," said Dr. Wong. "Tim's extensive experience in enterprise software development and management will enhance Versata's ability to provide our customers with leading edge products for enterprise application development through declarative de·clar·a·tive adj. 1. Serving to declare or state. 2. Of, relating to, or being an element or construction used to make a statement: a declarative sentence. n. business logic technologies." Prior to joining Versata, Mr. Child was Chief Technology Officer of Telamon Telamon (tĕl`əmŏn), in Greek mythology, son of Aeacus and father of Ajax. He and Peleus killed their half-brother Phocus and were banished from Aegina. Telamon fled to Salamis, where he became king. , Inc. (acquired by Vytek Wireless), a leading developer of urgent messaging solutions for extending information from enterprise applications to a broad array of wireless devices. From 1996 to 1999 he was Vice President of Research and Development at Informix, where he managed four development teams in multiple locations building client tools, systems management applications and networking and security tools and led R&D for the CEO's restructuring task force to develop an Internet-centric business. In addition, he developed corporate technology strategies for Systems Management, XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. , and Java. Prior to joining Informix, Mr. Child was Director of Software Development at Illustra, a pioneering company of extensible database (database) extensible database - A DBMS that allows access to data from remote sources as if the remote data were part of the database. products where he led engineering teams in client tools and DataBlade development. Mr. Child has over 25 years of international software product development experience. "I believe Versata has great products and my background and skills are very complementary to the technology and existing team," said Mr. Child. "I am delighted to join this world-class engineering team and look forward to building on Versata's technology leadership with new generations of products." Rahul Patel, the Company's Chief Development Officer and Val Huber, the Company's Chief Technology Officer will report directly to Mr. Child. About Versata For IT shops who are struggling to reduce costs and whose developers are challenged with Java coding demands, Versata provides an application server extension that uses declarative business logic as a more productive way to do transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. and business process management. Much like a relational database manages business data, Versata manages business logic in the Versata Logic Server - at a higher level of abstraction The level of complexity by which a system is viewed. The higher the level, the less detail. The lower the level, the more detail. The highest level of abstraction is the single system itself. , utilizing a server for execution and management. Unlike traditional hand-coding approaches, Versata enables developers to maximize their time by allowing them to focus on rules and processes of an application, rather than clerical details. Versata's declarative business logic approach enables IT to create and change applications faster, lower development and maintenance costs, and reduce application backlogs. Versata-built applications are constructed from an organization's core business rules and run in J2EE application servers like 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) WebSphere and BEA WebLogic. Versata Global 2000 customers include American Management Systems American Management Systems (previous NASDAQ symbol: AMSY) was founded in 1970 as a technology and management consulting firm. It was founded by a group of five former United States Department of Defense officials who worked under Robert McNamara in the Kennedy and Johnson , British Telecommunications, Federal Home Loan Bank, France Telecom, and J.P. Morgan Chase & Co. For more information, please visit www.versata.com or call (800) 984-7638. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements discuss ability to provide our customers with leading edge products for enterprise application development and the impact Mr. Child may have on the future success of the Company. These statements reflect the current views and assumptions of Versata, and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. These factors include, but are not limited to, the following: the potential that Mr. Child or any of the current executives or officers may leave Versata, the inability to manage business in light of recent management change; or that the expected results will not be achieved. The information provided in this press release is current as of the date of its publication. Versata expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any changes in expectations, or any change in events or circumstances on which those statements are based, unless otherwise required by law. For a discussion of other risk factors that could affect Versata's business, see "Risk Factors" in Versata's filings with the Securities and Exchange Commission, including its annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended October 31, and its quarterly report on Form 10-Q Form 10-Q See 10-Q. for the period ended July 31, 2002. If any of these risks or uncertainties materializes, Versata's results could differ materially from Versata's expectations in these statements. Versata disclaims any intent or obligation to update these forward-looking statements. |
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