SOURCE: Selectica

Selectica

June 03, 2015 09:15 ET

Selectica Promotes Patrick Stakenas as President and CEO

SAN MATEO, CA--(Marketwired - Jun 3, 2015) - Selectica, Inc. (NASDAQ: SLTC), a leading provider of Supply Management and Enterprise Contract Lifecycle Management, announced changes to the executive team. Effective today, the Board of Directors has appointed Patrick Stakenas as President and Chief Executive Officer and a Director. Mr. Stakenas joined the Company as Chief Strategy Officer, from Gartner, after driving ForceLogix Technologies through its IPO and sale to CallidusCloud.

"Over the past eighteen months, Patrick has successfully pioneered Selectica's strategic approach to Supply Management and Enterprise Contract Lifecycle Management," said Selectica's Executive Chairman Michael Brodsky. "He has fueled the organization's growth through organic and inorganic measures by architecting the Company's innovative strategy to acquire Iasta and the Company's anticipated acquisition of b-pack, a global leader in purchase-to-pay software."

"At Gartner, I saw the opportunity at Selectica to extend the Contract Lifecycle Management business into the Supply Management space. Today, the Company is now one of the leaders in Supply Management and Enterprise Contract Lifecycle Management," said Mr. Stakenas. "The market has recognized the value in our strategy and execution, resulting in recent increases in sales momentum. We look forward to sharing further details in our earnings call next week."

As part of the transition, Blaine Mathieu has resigned as President and Chief Executive Officer and member of the Board of Directors of the Company. "We thank Blaine for his dedication to Selectica and for steering the Company over the past one and a half years, and we wish him well in all of his future endeavors," said Mr. Brodsky.

Supporting Resources

Patrick Stakenas's Biography:

Prior to joining Selectica, Mr. Stakenas was a Gartner Analyst authoring forward-looking strategies that helped enterprises and vendors shape their future technology offerings. Previously, Mr. Stakenas founded ForceLogix Technologies Inc. and led the company to a successful IPO and ultimate acquisition by CallidusCloud. He served in executive roles at CCC Information Services, FileNet, Inc., and OpenText Corporation. Mr. Stakenas served for 14 years with Moore Corporation Ltd. in various management and executive roles. He is a frequent guest lecturer on procurement, contract lifecycle management, SaaS technology, and the importance of creating customer-centric organizations. Mr. Stakenas holds a B.S. Business Administration and Marketing from Ferris State University and an Executive Management Certificate from Northwestern's Kellogg School of Business.

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About Selectica, Inc.
Selectica, Inc. (NASDAQ: SLTC), is a leading provider of enterprise contract management, supply management, and configuration solutions. Since 1996, Selectica has helped global companies actively manage their contracts throughout the sales, procurement, and legal life cycle. Selectica's contract lifecycle management, strategic sourcing, and purchasing solutions drive business value by assisting organizations in managing contracts profitably, effectively accelerating revenue opportunities, and minimizing risk through compliance. Our patented technology assists customers across a myriad of industries including high-tech, telecommunications, manufacturing, healthcare, and financial services -- to accelerate and streamline contract management, sales processes, spend analysis, procurement intelligence, sourcing, and supplier lifecycle management. Selectica also provides a powerful configuration engine, which Fortune 500 companies use to accelerate revenue by facilitating the right combination of products, services, and price. More information, visit: www.selectica.com and www.iasta.com.

Forward-looking Statements
 
Certain statements in this release and elsewhere by Selectica are forward-looking statements within the meaning of the federal securities laws and the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements regarding business outlook, assessment of market conditions, anticipated financial and operating results, strategies, product and channel development, future plans, contingencies and contemplated transactions of the company. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of company operations, or the performance or achievements of the company or industry results, to differ materially from those expressed, or implied by the forward-looking statements. In addition to any such risks, uncertainties and other factors discussed elsewhere herein, risks, uncertainties and other factors that could cause or contribute to actual results differing materially from those expressed or implied for the forward-looking statements include, but are not limited to fluctuations in demand for Selectica's products and services, risks of losing key personnel or customers, protection of the company's intellectual property and government policies and regulations, including, but not limited to those affecting the company's industry. Selectica undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Additional risk factors concerning the company can be found in the company's most recent Form 10-K as filed by the company with the Securities and Exchange Commission.

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