SOURCE: UBmatrix, Inc.

February 27, 2007 08:15 ET

UBmatrix, Inc. Appoints Andre M. Boisvert as Chairman

Veteran of Oracle, IBM and Cognos to Guide Expansion of Leading XBRL Information Exchange Solutions Company

KIRKLAND, WA and PALO ALTO, CA -- (MARKET WIRE) -- February 27, 2007 -- UBmatrix, Inc., the leading provider of XBRL information exchange solutions, announced today that its Board of Directors has appointed Andre M. Boisvert as Chairman. Boisvert brings more than 30 years of executive experience at Oracle, IBM, Cognos and other leading technology companies to the position.

"We are delighted to have a person of caliber and vision such as Andre leading our Board and helping to guide the expansion of UBmatrix," said Sunir Kapoor, president and chief executive officer of UBmatrix, Inc. "With his years of experience in Business Intelligence, Enterprise Information Management, and Open Source software, Andre is in a unique position to help us manage our growth during a period of rapid expansion in the XBRL market globally. As UBmatrix provides some of its products under an Open Source business model, Andre's skills at coupling traditional and Open Source business models will serve our customers and partners well."

UBmatrix develops and provides XBRL-based information exchange solutions to leading global organizations and enterprises, allowing them to more efficiently and effectively address the challenges of business and financial information management and reporting. As recently noted in a Harvard Business Review, "XBRL will make it much easier to generate, validate, aggregate, and analyze business and financial information, which in turn will improve the quality, timeliness, completeness, and comparability of the information that companies use to make decisions."(1)

"I'm excited to serve as Chairman of UBmatrix precisely because of the unique strategic challenges and tremendous opportunities available in the rapid expansion of this company and this market," said Andre M. Boisvert, newly appointed Chairman of the Board for UBmatrix, Inc. "UBmatrix, with a strong customer base, compelling value proposition and talented management team, is in a unique position to accelerate its growth and market leadership."

Boisvert is a long-time leader in the Business Intelligence arena with over 30 years of senior management and executive leadership experience with enterprise software and technology leaders such as Oracle, Cognos, IBM and Sagent, now part of Group 1 Software. He also has served as president and chief operating officer of the SAS Institute Inc., the largest privately held software company in the world with nearly $2B in annual revenues. More recently, Boisvert has become a leading industry voice on the open source software movement and an active individual investor in some of the most promising open source companies, such as Pentaho, Zenoss, and Compiere.

About UBmatrix

UBmatrix provides technology solutions for improving information exchange. Offered both as licensed software and on-demand via the Internet, UBmatrix solutions help automate the process of exchanging information using eXtensible Business Reporting Language (XBRL), the next evolutionary stage of XML. Using UBmatrix solutions, organizations can move data freely among applications within an enterprise, between business partners, and to regulators without losing the semantic meaning of the data. Benefits include increased operational and financial transparency, cost savings in sharing data both inside and outside the organization, and greater confidence in reporting accuracy and regulatory compliance. Visit UBmatrix at www.ubmatrix.com.

(1) Harvard Business Review, Breakthrough Ideas for 2007, February 2007

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