FYI...
-------- Original Message --------
Subject: [Announce] ActiveState Acquired by Employees and Pender
Financial Group
Date: Wed, 22 Feb 2006 12:01:51 -0800
From: Shezmeen Hudani <shezmeenh-0OmgUqZ5G+O9C01uVemLPA@xxxxxxxxxxxxxxxx>
To: <Announce-JX7+OpRa80TXJIxYR607+kz+dqtnW2gk@xxxxxxxxxxxxxxxx>
ActiveState Acquired by Employees and Pender Financial Group Company
renews focus on tools and solutions for dynamic languages
Vancouver, BC - Feb. 22, 2006 - ActiveState, the leading provider of
tools and services for dynamic languages, announced yesterday that it
has been acquired by ActiveState Software Inc., a new company jointly
owned by the employees of ActiveState and Pender Financial Group
Corporation, an investment company focused on technology and healthcare.
All of ActiveState's business, assets, and liabilities were acquired
from Sophos, Inc., a subsidiary of Sophos Plc., for the purchase price
of US$2,250,000.
As an independent entity, ActiveState will continue to develop and
support its award-winning programming tools, language distributions, and
enterprise support services for dynamic languages, with major releases
of all tools scheduled to ship later this year.
ActiveState will be led by Bart Copeland as President and CEO, and Dr.
David Ascher as CTO and VP, Engineering.
Copeland brings 20 years of leadership, management, finance, and
business experience to his role. Most recently, he was Interim CEO of
iMessaging Systems, Inc., a New Hampshire-based interactive voice
response software company, President & CEO of Recombo, Inc., a content
integration technology company, and President and CEO of PhotoChannel
Networks Inc., an online image and printing/picture messaging services
for retailers and wireless carriers.
"I'm excited to be joining ActiveState at this stage in the company's
evolution," said Copeland. "They are an established leader who have
achieved many successes to date, and are well-positioned to be a major
force in the industry. I look forward to leading the company to further
success."
As CTO and VP, Engineering, Ascher will focus on product and technology
strategies. He has spent the past six years providing business and
technical leadership for ActiveState, most recently in the position of
Chief Technologist, and has over 17 years of experience as a developer,
consultant, and advocate of open source software.
"This investment allows ActiveState to once again be independent," said
Ascher. "This is great news for us, and, more importantly, for our
customers, who will benefit not only from our renewed focus on current
product lines, but also from the wealth of expertise and resources that
Bart and our new investors will contribute toward future growth."
In addition, Kelly Edmison, President and CEO of Pender Financial Group,
will become Chairman of ActiveState's Board, and David Roberts,
President of PenderFund Capital Management Ltd., will join Edmison and
Copeland as a Director.
About Pender Financial Group Corporation
Pender Financial Group Corporation (TSX-V: PDF) is a publicly traded
investment company that owns or manages approximately $35 million of
assets focused on technology, life sciences and healthcare companies
based in British Columbia. Pender's strategy is to build long-term value
by investing its capital into a relatively few undervalued companies and
to actively participate in their development so as to enhance their
value and the liquidity of Pender's investments. Through its wholly
owned subsidiary, PenderFund Capital Management Ltd., Pender is the
manager of Pender Growth Fund (VCC) Inc. and Pender NDI Life Sciences
Fund (VCC) Inc.
About ActiveState
ActiveState is the leading provider of tools and services for dynamic
languages such as Perl, PHP, Python, Ruby, and Tcl. Over two million
developers rely on ActiveState's cross-platform professional development
tools, high-quality language distributions, and enterprise services.
© 2006 ActiveState
All product and company names herein may be trademarks of their
respective owners.
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