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For Immediate Release
Former Top Executive at Tivoli/IBM, Martin Neath, Joins Adams Capital Management, Inc. as New General Partner
Pittsburgh, PA - [August 22, 2001] Adams Capital Management, Inc. (ACM) announced today that it has named Martin Neath a General Partner. Neath is a veteran of the entrepreneurial community in Austin, Texas, where he helped build Tivoli Systems, Inc., now an IBM company, into a multi-billion dollar software and service operation.
Neath joined Tivoli in 1990 as its seventh employee and first application engineer. Over the next decade, he moved up the ranks quickly and was increasingly responsible for product strategy and development, marketing, customer support, product services and information technology, and was extensively involved in sales and customer service. Tivoli went public in 1995 and was acquired by IBM a year later. Neath served as Executive Vice President of Tivoli overseeing much of the company's day-to-day operations. He was responsible for five business units, plus engineering, corporate marketing, customer service, training and education, office of the Chief Technology Officer, and North American sales. In 1998, he was named a member of the IBM Senior Management Group (SMG), the team of the top 300 executives from around the world charged with overall responsibility for IBM's strategy and business execution.
"Martin has demonstrated an exceptional ability to energize young and innovative technology groups by bringing together strategy, operational expertise, and sales and marketing support to build world-class technologies," said Joel Adams, ACM General Partner. "We are extremely excited and honored to have Martin join the ACM team. The depth of Martin's domain expertise in software, application, tools and services and his success as a business leader are a great fit with our hands-on approach to venture investing."
After retiring from IBM in 1999, Neath continued to leverage his domain expertise in information technology and enterprise software to advise and help build several young emerging growth technology companies in the Austin area. He served for two years as president and Chief Operating Officer of Austin-based, Works, Inc., a provider of procurement applications to midsize companies. He currently serves on the boards of directors of several companies, including two ACM portfolio companies, Works, Inc. and Journee Software, Inc., a provider of web-enabling infrastructure software utilized by mid-size companies to deliver complex, integrated e-business applications.
"We have seen first-hand how companies have greatly benefited from Martin's keen ability to drive strategy, build management teams, impact product positioning and provide guidance on how to design and implement effective processes and systems to achieve profitable growth," added Jerry Sullivan, an ACM General Partner based in ACM's Austin office.
Adams Capital Management is noted for its disciplined analysis of business and technology fundamentals. As an ACM General Partner, Neath will be responsible for identifying new investment opportunities that fit within the ACM markets-first investment strategy, as well as working with existing portfolio companies.
"Working with entrepreneurs in numerous Austin start-ups and my time at IBM has been of tremendous professional benefit for me and I look forward to leveraging this experience to help our portfolio companies identify and quickly deploy solutions to address complex and high-value business problems that are inherent in every early-stage technology company," said Neath. "Working with ACM brings my entrepreneurial journey full circle."
Adams Capital Management, Inc., a national venture capital firm with $700 million in capital under management, has offices in Austin, Boston, Palo Alto and Pittsburgh. Adams Capital invests in early-stage information technology and telecommunications companies addressing compelling market opportunities created by discontinuities in industry standards, regulations, technology convergence and distribution channels. If you would like more information on ACM or its portfolio companies, please contact Joel Adams at 412.749.9456 or Andrea Stephenson at 412.749.9986.
Date: Aug. 22, 2001
Contact: Joel P. Adams 412.749.9456
Andrea Stephenson 412.749.9986 or als@acm.com
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