| Fri 16 Nov 2001, 0:00 | | Ixchange Technology Holdings Limited - Frontrange |
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Appointment Of New Ceo Patrick Bultema
Ixchange Technology Holdings Limited
(Registration number 1997/009928/06)
Share code : XCH ISIN : ZAE000016879
FRONTRANGE SOLUTIONS ANNOUNCES APPOINTMENT OF NEW CEO PATRICK BULTEMA
Software Industry Veteran to Drive Growth for Leading CRM Company
Ixchange Technology Holdings Limited, the JSE-listed developer of customer
relationship management and service and support solutions, today announced
the appointment of Patrick Bultema, a veteran of the US software industry,
as president and chief executive officer of its 84%-owned and US-based
subsidiary, FrontRange Solutions Inc.
Bultema succeeds Dana Buys, who remains chairman of the board of FrontRange
Solutions, as well as CEO of Ixchange. Bultema will also join the board of
Ixchange from 1 December 2001.
Says Buys: "We have now attained the objectives of my tenure as CEO at
FrontRange - to build a strong executive team and complete the merger of
Bendata and GoldMine into one globally competitive software company. We
have come a long way in the past 18 months, and I have brought on Patrick
Bultema to catapult the company into the next stage - to be the dominant
player in the mainstream CRM market."
The company's key objectives for the current financial year remain the point
of focus. "We remain on track to realise our financial, expansion and
product objectives by the end of June 2002, to conserve cash, embrace a
sense of urgency and purpose, and achieve extraordinary customer intimacy,"
says Buys.
Ixchange recently announced its plans to focus solely on the CRM market and
to dispose of the Ability and Incubator divisions, leaving it holding only
FrontRange Solutions. The company plans to change the name under which it is
listed on the JSE Securities Exchange in early December from Ixchange to
FrontRange Solutions.
"FrontRange was looking for a top-flight businessman with strong US industry
ties, excellent leadership and team building qualities, as well as the
scalability required for the company's growth," says Buys. "FrontRange is
extremely fortunate in securing the services and commitment of Patrick
Bultema. We have worked with him for some time and are confident that he
will lead the company to a profitable future."
Buys expects to complete the official handover to Bultema by the end of
December 2001, and will remain in the US until the end of June 2002 to
assist with the transition before returning to South Africa.
The announcement has been received well in IT industry circles in the US.
According to Tom Kippola, Managing Director of the Chasm Group and co-author
of The Gorilla Game: "FrontRange occupies a unique market position in the
large market below the enterprise CRM space. I believe that Patrick Bultema
brings the ideal set of complementary skills and experience to the company.
Patrick understands the CRM market very well, has the industry and capital
market connections required, and is a team builder and leader. I am sure
that he will play a major role in helping FrontRange realize its vision and
unlock the company's true value."
Bultema is a 15-year software industry veteran with a successful track
record in high tech support and customer relationship management industries.
He was chairman and general manager of the Help Desk Institute until 1996,
and has spent the past several years serving on many software company
boards, in addition to consulting to venture capital firms and high tech
companies such as Arch Ventures, Deuxo Software, Digital, Folio Corporation,
Fujitsu, Hewlett Packard, Intel, Knowlix, Logitech, NEC, Par3
Communications, Peregrine Systems, SAP, ServiceOne, Service Management
International, Softbank Services Group, Software Support Inc., Sprout Group,
Stream, Sykes, Timberline Ventures and Ziff Davis. He is also a well-known
author and sought-after speaker. Bultema holds a bachelor's degree from
California State University and a master's degree from Princeton University.
Says Bultema: "FrontRange Solutions is already a leader in the mid-market
front office automation space with its two strong brands, Goldmine and HEAT.
However, this market segment is at the beginning of the market penetration
cycle and FrontRange doesn't have a level of visibility commensurate with
its actual market impact. While stealth might be a desirable attribute for
fighter aircraft, it isn't for software companies.
"Over the next few years, FrontRange will be the clear leader in
transforming how small and medium sized enterprises manage customer
relationships around the world. I'm thrilled to be part of realizing this
vision," he adds.
About FrontRange Solutions
FrontRange Solutions develops software and solutions that allow
organizations to deliver extraordinary customer relationships and service.
An international market leader in customer-centric software for more than 11
years, the company is headquartered in Colorado Springs, Colorado, with
offices in the United Kingdom, France, Germany, Italy, South Africa,
Australia and Singapore.
Solutions include: the industry-leading GoldMine software family for
customer relationship management (CRM), team-based contact management and
sales force automation; and the award-winning HEAT software line for world-
class customer service and support.
FrontRange drives business decisions for profitability in market-leading
companies such as Shell Oil, Coca-Cola, Chevron, Prudential Securities,
Electricite de France, Mack Truck, Turner News Network, and Smith Barney.
Industry awards for FrontRange include Software Magazine's "Hot 500," Call
Centre Magazine Product of Year, Entrepreneur Magazine's Best Software,
Users Choice Awards, and PC Magazine "Editors' Choice."
For more information about FrontRange Solutions Inc., call Tracey Newman on
+27-11-808-6155 or 082-492-9326 or visit www.frontrange.com.
November 16, 2001
