International Decision Systems® Announces Expansion and Strengthening of Company’s Executive Management Team


Wednesday, May 12, 2010

 

Company Appoints Executive Chairman Tom Thomas as Interim CEO and Adds New Chief Marketing Officer

Minneapolis, MN May 12, 2010 – International Decision Systems® (“IDS”), the leading global provider of asset finance origination and portfolio management software and solutions, today announced that Tom Thomas, the current Executive Chairman of the company, will add the role of Interim Chief Executive Officer.  Todd Davis, Chief Executive Officer, has resigned to pursue other interests.

Mr. Thomas brings over 30 years of enterprise software and technology experience to his expanded role.  His impressive executive management background includes previous CEO roles at Ajuba Solutions, Vantive Corporation, HAHT Commerce and GXS.  His experience also includes global IT leadership roles with 3Com, Palm, Dell, Kraft and Sara Lee.

Nicholas E. Somers, the Chairman of the IDS Executive Committee of the Board and Managing Partner of SV Investment Partners, the private equity owner of IDS said “Tom Thomas joined the board as Executive Chairman in 2009 and in just a short time his leadership and wealth of industry experience have proved invaluable to the company.  Tom is ideally placed to fill this interim position.  As we welcome Tom to his expanded role, we also want to thank Todd Davis for his commitment to IDS over these last years and offer best wishes to him for the future.”

In addition to the expanded role for Mr. Thomas, IDS has further strengthened its management team this year with two additions.  In January, Steve Pittman was named Vice President of Sales, bringing with him over 25 years of enterprise software experience at companies such as SAP, Peoplesoft, Siebel and Oracle.  

Today, in addition, IDS is pleased to announce the appointment of Terry Welty as Vice President & Chief Marketing Officer, leading the company’s global marketing and product management programs.  Mr. Welty brings to IDS a proven track record in worldwide marketing and product management.  He is a software and technology industry veteran with over 25 years of experience, the last dozen in enterprise software marketing.  Most recently, Mr. Welty served as the Senior Vice President of Marketing at Quark.  He has also served in similar roles at Arbortext, HAHT Commerce, TPN Register and EXE Technologies, and led global marketing programs for the F-16, F-22 and F-35 at Lockheed Martin.

Mr. Thomas said, “This last year has been a tremendously exciting time to join IDS.  I couldn’t be more impressed with the knowledge and expertise of the management team and the quality of the products.  This expansion of our sales and marketing programs is the latest signal to our customers and to the market that we remain committed to the delivery of world class products to our current and future customers.  The latest release of ProFinia® ensures our product suite continues to go from strength to strength, and now the same can be said of the management team.  Steve’s, and now Terry’s, appointments will strengthen the partnerships we have with our customers and expand our ability to grow as our customers’ needs expand.”

Mr. Somers added, “The board of IDS, comprised of technology industry veterans, is pleased with the ever-strengthening executive management team.  The company has never been better positioned to grow.  We are delighted with these new appointments, which continue to demonstrate IDS’ commitment to the industry and, most importantly, to its customers.”

About International Decision Systems®

IDS is the leading provider of software and solutions for the equipment finance market.  For over 30 years, the company has offered integrated solutions from origination through disposition and asset management, supported by an ongoing research and development effort unrivaled in the market space.  Customers include approximately 50% of the largest leasing companies in the United States, and an increasing number of the largest global players.  In addition to offering powerful, flexible software, IDS provides the industry experience and expertise to assure successful, complete solutions.  Headquartered in Minneapolis, MN, the company also has offices in the United Kingdom, India, Singapore and Australia.  For additional information, visit www.idsgrp.com

About SV Investment Partners

SV Investment is a leading middle market private equity firm which focuses on the business services sectors with a particular emphasis on technology related services.  SV plays an active role in the management of its portfolio and works closely with the boards and management teams of its portfolio companies to build value.  The firm was founded by Nicholas Somers, its Managing Partner, and is located at 505 Fifth Avenue in New York City.  For additional information, visit www.svip.com.


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