McCABE SOFTWARE RECAPITALIZES COMPANY TO STRENGTHEN POSITION IN TOOLS MARKETPLACE
OCTOBER 27, 2003 - COLUMBIA, MD - McCabe Software, the leading provider of critical systems testing and configuration management software, announced the sale of the company to the principals of Oridium, LLC, a technology management company. The sale and recapitalization provided liquidity to the now former 350+ shareholders and, importantly, provided significant working capital into the company to fuel growth. As part of the change, the principals of Oridium, David Belhumeur and Ken Pereira, join McCabe as the CEO and President, respectively.
"McCabe Software created the standard for testing mission critical software. Its products have proven essential to the success of military systems, life critical and mission critical business applications across multiple platforms and multiple languages", said Ken Pereira, McCabe's new President. "We have a tremendous opportunity to expand the use of our powerful software tools throughout our worldwide distribution channels. We are excited about McCabe's potential".
"McCabe, and its impressive customer base, will benefit from a significant investment of new working capital and a re-energized focus on its customers", said David Belhumeur, McCabe's new CEO. "McCabe's primary goal will continue to be customer satisfaction in deployment of our unique testing and configuration management software."
The sale of McCabe comes at an important time in the software tools market. As the economy improves, the use of critical testing software is expected to rise dramatically. Innovative techniques to detect and eliminate pre-production errors in software have become an important focus area in mission critical applications. McCabe Software sees itself as playing a major role in this trend.
About McCabe Software, Inc.
McCabe Software, an industry leading Application Lifecycle Management company, provides Software Quality and Configuration Management solutions worldwide. “McCabe IQ” is used to analyze quality and test coverage of mission, life, and business critical applications, utilizing a comprehensive set of advanced software metrics including the McCabe-authored Cyclomatic Complexity metric. Our “McCabe CM” line of SCM solutions helps organizations manage changes faster and more efficiently to ensure quality throughout the Application Lifecycle. McCabe Software has offices in the United States and distribution worldwide, and can be found on the web at www.mccabe.com.
For more information or to schedule an interview, contact:
Jon Palmisano - 401-572-3100
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