• Leading provider of enterprise-class mainframe integration solutions.
• Nasdaq: NEON (currently trades as Nasdaq: PRGS)
• Revenue: ~ $30M & Profitable
• Market Cap: ~ $60M

Objective:

• Retained as exclusive advisor to help new management team develop refreshed growth strategy, including repositioning of company relative to market leader IBM.

Activities:

• Developed new market strategy with management, leading to divestiture of non-core business.
• Evaluated over a dozen potential strategic acquisitions.
• Presented 6 LOIs to potential targets.

• Successfully drove three acquisitions, 1 divestiture and a new distribution joint venture with WebMethods (Nasdaq: WEBM).
• Repositioned company as viable #2 to IBM, with comprehensive product suite in mainframe integration software.
• Company sold to Progress Software in 2006.
• Share price gain of 400% during tenure of relationship.