SOURCE: Bridgestream, Inc.

April 27, 2005 06:03 ET

Bridgestream Appoints Mark Tice as New President and Chief Executive Officer

Seasoned Executive From Business Objects to Lead Company Growth

SAN FRANCISCO, CA -- (MARKET WIRE) -- April 27, 2005 -- Bridgestream, Inc., a leading provider of business roles automation solutions, today announced the appointment of Mark Tice as its new president and chief executive officer (CEO). Tice brings more than 20 years of experience in the enterprise software industry building global sales and marketing operations.

"We are pleased to welcome Mark to the management team at Bridgestream. His deep expertise in application software and the financial services market, specifically in the areas of compliance, business intelligence and databases, provides him with a strong background to lead Bridgestream in its next phase of growth," said Mitchell Kertzman, a partner at Hummer Winblad Venture Partners and an investor in Bridgestream. "As the company prepares to deliver its next generation of products, Mark's exceptional business and operational skills, as well as proven track record in driving product revenue growth in emerging technology markets, will play a vital role in expanding Bridgestream's customer base."

Most recently, Tice was executive vice president and general manager of the Americas at Mantas, a late-stage start-up that provides compliance and behavior detection software for the financial services market. During his time at Mantas, the company grew from $11 million to $26 million and achieved profitability. Tice also spent five years at Business Objects and held several management positions, including group vice president and general manager of data integration, as well as group vice president of worldwide channel sales and alliances. As a member of the senior management team, Tice was a key contributor to the company's success, which saw annual revenues increase from $115 million to $450 million during his tenure.

"Bridgestream is in the forefront of the security and privacy market and has a unique competitive advantage. Our solutions allow organizations to automate user and access rights management so they can enforce information security policies, optimize IT resources and meet regulatory requirements," said Tice. "This is an exciting time for Bridgestream. With the company's recent announcement of new funding, we're poised to grow the market adoption of our solutions."

Juanita Lott, Bridgestream's Founder and CEO since its inception, will remain with the company as executive vice president and a board member. Bridgestream's search for the CEO position was conducted by Taylor Winfield, Inc.

About Bridgestream, Inc.

Bridgestream is a leading provider of business roles automation solutions. The Bridgestream SmartRoles™ software maps the business relationships that exist within a department, within a division and across the extended enterprise to provide fast, accurate and real-time information about role-based authorizations and changes. With Bridgestream, enterprises can decrease the cost of managing access and authority information, improve visibility and control as well as ensure regulatory compliance. Bridgestream is headquartered in San Francisco, Calif. For more information, visit www.bridgestream.com or call (415) 284-2800.

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