SOURCE: Aria Systems

May 19, 2008 07:10 ET

Co-Founder and Former CEO of Portal Software Invests in Aria Systems and Joins Board

Billing and Revenue Management Pioneer Dave Labuda Sees Aria Systems as Leading Provider of On-Demand Billing Solutions

PHILADELPHIA, PA--(Marketwire - May 19, 2008) - Aria Systems, the leading provider of on-demand billing and customer management solutions, announced today that Dave Labuda, co-founder and former CEO of Portal Software and former CTO of Oracle's Communications Global Business Unit, has invested an undisclosed sum in Aria Systems and joined Aria's board of directors.

"Dave Labuda created a world-class billing and revenue management solution with Portal Software -- his experience will translate well in helping Aria Systems expand its position as the leading on-demand billing and customer management platform provider," said Edward Sullivan, CEO of Aria Systems.

Labuda will join Mark Gorenberg, Managing Director at Hummer Winblad Venture Partners, and Howard E. Goldberg, Entrepreneur-In-Residence at Internet Capital Group, on Aria's board of directors.

"The market for on-demand billing is exploding, " said Labuda. "Aria Systems is the only provider with years of proven operational experience and the broad functionality required to satisfy the increasingly complex needs of subscription-based businesses. I am thrilled to join the Aria team at this pivotal moment as they expand their lead in this exciting new market."

Dave Labuda co-founded Portal Software in 1994, creating the first real-time billing and revenue management solution for internet and communications service providers. As CTO, he led the architectural design and product strategy of the company. After stepping into the CEO role in 2004, he successfully sold the company to Oracle in 2006. Dave then served as CTO of Oracle's Communications Global Business Unit until February 2008, providing architectural vision for the new organization and acting as a key advisor on several strategic acquisitions. He holds Bachelors and Masters Degrees in Computer Engineering from Case Western Reserve University and has 10 patents issued with several more pending.

About Aria Systems

Aria Systems is the leading provider of on-demand billing solutions. Aria's Billing and Customer Management Platform offers clients a powerful tool to accelerate revenue capture, automate business processes, and significantly reduce operating costs throughout each phase of the customer lifecycle. Aria provides clients with a mature, flexible and proven subscription billing platform that enables them to get customers, get paid and get control. Aria manages and maintains more than 1 million accounts and has processed more than 1 billion transactions. The company is based in Media, Pa. (metropolitan Philadelphia). For more information, visit www.ariasystems.com.

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