Brickstream Corporation Appoints Former Clarus and HP Executive Steve Jeffery as CEO

Business Wire,  August 16, 2004  

Tags: Clarus Corp., Hewlett-Packard Co.

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ATLANTA -- Company Strengthens Executive team with the appointment of Jeffery as well as Hiring Former S1 Executive Kevin Ashworth as VP Operations

Brickstream Corporation, a leading provider of customer analytics solutions for brick-and-mortar retail organizations, today announced the appointment of industry veteran Steve Jeffery as CEO.

Jeffery has a distinguished track record within the technology industry and brings over 25 years of experience, accumulated at IBM and HP in the UK, Europe and the US. During the last 10 years, Jeffery was CEO of SQL Financials and Clarus, both of which he led to public offerings. Jeffery also led multiple merger/acquisition and divestiture transactions during his tenure with these companies.

"Brickstream afforded me an opportunity to join a company that is unique in the market place," said Steve Jeffery, CEO of Brickstream. "Its story has been one of success in the two-and-half years since its launch and I look forward to taking it to the next level by building upon the company's technology, marketing and customer strengths as well as investing in new growth opportunities."

Brickstream co-founder Amir Hudda, who Jeffery replaces as CEO, will continue to be actively involved in the business as Chairman with primary responsibility for long-term company growth initiatives.

"We are extremely fortunate to recruit an industry veteran of Steve's caliber at an important time in Brickstream's history," said Amir Hudda. "Steve Jeffery can provide the strong leadership that can support the continued growth of the company."

"Steve Jeffery is a proven leader who has successfully scaled new businesses," said Arun Gupta, Partner at Columbia Capital. "He is a great addition to an already strong executive team and will accelerate the company's ability to scale in the retail, banking, and CPG markets."

"Steve Jeffery has demonstrated a proven ability to lead and grow new businesses and will be instrumental in expanding Brickstream's market presence," said Nancy Schoendorf, general partner at Mohr, Davidow Ventures. "We're delighted to have him on the Brickstream team."

Brickstream also announced the appointment of Kevin Ashworth, a 22 year high-tech veteran in Atlanta, as VP of Operations. Ashworth is tasked with scaling Brickstream's services organizations to support rapid market growth, comprising all implementation, customer support, and data center operations. Prior to Brickstream, he was employed with S1 Corporation as VP of Professional Services, for the Americas. He was responsible for both consolidating and integrating five services business units, $40M in revenue, and 240+ personnel. Previous to S1, Ashworth spent 8 years with Keane, Inc. and 9 years with Dun & Bradstreet Software in services, engineering, sales, and marketing roles during their high-growth periods.

ABOUT BRICKSTREAM

Brickstream sets the standard for a new generation of customer analytics for the brick-and-mortar economy. Brickstream provides the Brickstream System, a closed loop solution that leverages anonymous smart video technology to continuously capture and analyze information about in-store customer activity and the effectiveness of customer interactions, and act on this information in real-time to improve the planning and execution of sales, service, and marketing processes. Developed over a period of nine years, the Brickstream System is protected by numerous patents. Brickstream serves retailers, retail banks, and consumer packaged goods manufacturers throughout North America and Europe. A partial client list includes Bank of America, Lloyds TSB, Royal Bank of Canada, Wells Fargo, SunTrust Bank, Office Depot, CVS Corporation, and Procter & Gamble.

ABOUT COLUMBIA CAPITAL

Columbia Capital is a premier private equity firm focused exclusively on the communications and information technology industries, investing in both emerging service providers and innovative, next generation technologies. Columbia Capital has invested in more than 60 communications and technology companies since 1989 and currently manages approximately $1.4 billion. Columbia Capital is located in Alexandria, Virginia. Additional information about Columbia Capital can be found at www.colcap.com.

ABOUT MOHR, DAVIDOW VENTURES

Mohr, Davidow Ventures (MDV) has built a reputation among entrepreneurs as a partner by taking a hands-on approach to investments and working skillfully to architect and build successful companies. MDV possesses an extended team of experts, including the firm's partners and an active network of seasoned entrepreneurs. Together, they focus on early stage investments while bringing years of real-world experience to accelerate each company's time to market and optimize its long-term success. Industry-leading companies funded by MDV include Agile, Auspex, Brickstream, Brocade, Epigram (BRCM), FormFactor, Ipsilon Networks (NOK), Kalpana (CSCO), Numerical Technologies (SNPS), ONI Systems (CIEN), Pivotal Technologies (BRCM), Rambus and Vitesse. Founded in 1983, MDV has $1 billion under management.