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A Monthly Journal for Venture Partners and Enterprise Software Executives
Vol. 1 No. 10
In This Issue
Venture Spotlight: Terry Garnett, Venrock Associates
CEO Spotlight: Peter Lee, DataSynapse
Prospecting for Offshore Value
Pre-IPO software companies: meet the Sarbanes-Oxley Act
Software M&A - Second Quarter 2003, Deals and Insight
Executive Job Listings
Hiring Software Sales People is EASY (and cheap).
Does your HR Manager know about SoftwareSalesJobs.com? If not, your company is at a serious disadvantage. Every major software company is using SoftwareSalesJobs.com to hire world class software sales professionals.

Visit: www.SoftwareSalesJobs.com for more information or to request a demo.



Venture Spotlight: Terry Garnett, Venrock Associates
By Angel Mehta, Managing Director, Sterling-Hoffman Management Consultants
After serving four years as Oracle's SVP of Marketing, Terry Garnett left to pursue a passion for investing in and nurturing startups. His personal early stage investments in Siebel and Checkpoint rank among the software industry's biggest success stories. After joining Venrock in 1995, his string of hits continued with key investments in NEON, Crossworlds, and NIKU. Angel Mehta, Managing Director at Sterling-Hoffman, sat down with Terry Garnett to talk about growing up in silicon valley, the value of going broke, and why 'pedigree' and entrepreneurial success don't necessarily go hand in hand.
Read full article >>

CEO Spotlight: Peter Lee, DataSynapse
By Angel Mehta, Managing Director, Sterling-Hoffman Management Consultants
Most experts agree that the enterprise software market is maturing, but customers are raving about DataSynapse and it's 'LiveCluster' distributed computing platform. Angel Mehta, Managing Director at Sterling-Hoffman, chats with DataSynapse CEO Peter Lee about the hot new (yet old) space of Grid Computing, differences between east coast and west coast venture capital firms, and why he chose his best friend's table napkin business plan over a startup that was virtually guaranteed financing.
Read full article >>

Prospecting for Offshore Value
By M.R. Rangaswami, Managing Director, The Sand Hill Group
Most software companies say they are offshoring at least some of their development or support services. The reality is that most haven't scratched the surface. When most software companies began leveraging offshore services during the technology boom of the late 1990s, the main incentive was to find skilled programmers and other staff - a scarce commodity domestically. Today's sagging economy means smart enterprises are still looking overseas but for different reasons. Wall Street has demanded lower operating costs and offshore services firms have helped deliver. But this motivation may be short sighted.
Read full article >>

Pre-IPO software companies: meet the Sarbanes-Oxley Act
By William Gehrke, Senior Partner, Hale & Dorr
If you're like most software investors or entrepreneurs, chances are that M&A is your best chance for a liquidity event. Any ISV thinking about a liquidity event will need to pay serious attention to the Sarbanes Oxley Act; even though the rules are designed for public companies, the implications for pre-IPO startups are immense. Bill Gehrke, Senior Partner at high tech law firm Hale & Dorr, explains what software CEO's and investors need to worry about, and how to best prepare.
Read full article >>

Software M&A - Second Quarter 2003, Deals and Insight
By Ken Bender, Managing Director, Software Equity Group, LLC
Is there light at the end of the tunnel? The Nasdaq, which now appears to have bottomed in October, grew 15% during the first 45 days of the quarter to its highest level in eleven months. M&A activity followed suit, climbing considerably from Q1 lows. Extrapolating data from the first half of the quarter, software M&A is projected to climb 10% in Q2, with a continuing mix of strategic and distressed acquisitions.
Read full article >>

Executive Job Listings
VP Americas North East
Mid-level front office applications vendor with over $30m in revenue seeking a world class enterprise software sales leader to take leadership over 150+ employee organization including sales, pre-sales, and alliances functions. For consideration, candidates must have previous experience managing organizations of at least $100m. Candidates that have changed jobs on more than 3 occasions over last 5 years will not be considered.
Apply to: amehta@SterlingHoffman.com

EVP Sales Bay Area, CA
Supply chain software company with a strong customer base and top tier investors seeking an EVP Sales to add both strategic impact and excellence in execution. Candidates must be interested in and capable of personally selling prior to building a team. Domain expertise in Hi-Tech Manufacturing, Retail and CPG as well as past successes in young company leadership are essential.
Apply to: MHF@SterlingHoffman.com

SVP Sales Bay Area, CA
Enterprise collaboration applications firm looking for a seasoned sales leader with a demonstrated track record in growing revenue from under $5M to over $50M. Contacts at F500 Discrete Manufacturing companies a must. Past achievement with leading PLM software companies (i.e. MatrixOne) and international indirect channel experience are significant assets.
Apply to: MHF@SterlingHoffman.com

VP Sales North East
Early stage enterprise security software vendor seeks VP Sales that possesses superb rolodex within key financial services accounts on wall street as well as at least 4 years selling in a pre-chasm environment to technical buyers. Ideal candidate will have some tenure with leading security software vendor such as ISS, Verisign, RSA, or Symantec. Candidates that have changed jobs more than 3 times in the last 5 years will not be considered.
Apply to: jcf@sterlinghoffman.net

VP Sales Bay Area, CA
Supply chain software company with a strong customer base and top tier investors seeking a VP Sales to add strategic impact and excellence in execution. Candidates must be interested in and capable of personally selling prior to building a team. Domain expertise in Hi-Tech Manufacturing, Retail and CPG as well as past successes in young company leadership are essential.
Apply to: MHF@sterlinghoffman.net

VP Sales Bay Area, CA
Senior Executive required with a successful track record of building and leading the sales organization of an early stage software company. Ideal candidate will have superb domain expertise with regards to the supply chain market segment and tenure with an applications market leader (i.e. SAP, Oracle, PeopleSoft, i2, Manugistics, JD Edwards). Candidates who have changed jobs 5 times in 5 years will not be considered.
Apply to: MHF@sterlinghoffman.net

VP Alliances North East
Early stage business intelligence vendor looking to acquire a high-performance VP Alliances with a lengthy track record in bringing high value enterprise solutions to market via ISV partners. A blend of successful experience with start-ups and pedigree platform providers (i.e. Oracle, Sybase, SUN, IBM) a must. Candidates with majority of their experience driving business via non-ISV channels will not be considered. No job hoppers please.
Apply to: MHF@sterlinghoffman.net

Note: We appreciate all submissions, but only qualified executives will be contacted.






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