Chairman, CEO of Legato Systems to Join VA Software's Board of Directors
FREMONT, Calif. December 11, 2001 VA Software Corporation (Nasdaq:LNUX), provider of the SourceForge collaborative software development platform, today announced that David B. Wright, Chairman and Chief Executive Officer, Legato Systems Inc. (Nasdaq:LGTO), has joined VA Software's Board of Directors.
Wright was chosen for the leadership he has shown at Legato, a worldwide leader in enterprise storage management software, as well as at Amdahl Corporation, a wholly owned subsidiary of Fujitsu Limited that provides integrated computing solutions to many of the largest users of information technology around the world.
Wright joined Legato following a 13-year career with Amdahl Corporation, where he had served as president and chief executive officer since 1997. He joined Amdahl in 1987 as Vice President for Sales and Service in the Northeast region of the United States, and in 1989, was promoted to Vice President in charge of all U.S. commercial sales activities. In 1992 he was named Vice President and General Manager of Amdahl Europe. Wright was appointed Senior Vice President and General Manager of Worldwide Compatible Products Operations in 1994 and became Executive Vice President of the Amdahl Systems Group in 1995, with responsibility for all computer hardware products, systems support services, and the field sales force.
"David will bring a wealth of both business and technology experience to VA Software's Board of Directors, and we are very fortunate to have him join us in this capacity," said Ali Jenab, President and COO, VA Software. "We are confident that David will help VA continue on a path to growing our SourceForge customer base."
"I am very pleased to have been asked to join VA Software's Board of Directors," said David B. Wright, Chairman and Chief Executive Officer, Legato Systems, Inc. "They have an exciting technology that brings true business value to their customers. I look forward to helping them craft their strategic vision and technology plans for expanding their customer base."
About VA Software
VA Software is the provider of SourceForge™, the collaborative software development (CSD) platform used by more than a quarter million developers worldwide. SourceForge Enterprise Edition helps R&D and IT organizations accelerate development by improving internal visibility and control through a centralized, integrated CSD platform. Information on VA's SourceForge enterprise software product, services and support is available at www.vasoftware.com.
Note Regarding Forward-Looking Statements: This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding VA's: future financial performance and results of operations, including anticipated revenue, cash usage and net loss from operations; technological trends in and emergence of collaborative software development; the future functionality, market acceptance and adoption of, business potential and demand for, and efficiencies created by SourceForge enterprise software; management's strategy, plans and objectives for future operations; the impact of our restructuring, reductions in force and new business model on our operating expenses and the amount of cash utilized by operations each quarter; our intentions and strategies regarding customers and customer relationships; our intent to continue to invest significant resources in software development; our intent to develop long-term relationships and strategic alliances; competition, competitors, the bases of competition and our ability to compete; liquidity and capital resources; and sales strategy and anticipated benefits from such strategy. Actual results may differ materially from those expressed or implied in such forward-looking statements due to various factors, including: unforeseen expenses that VA may incur in future quarters; the possibility that VA will not identify sufficient sources of expense reduction; VA's quarterly sales cycle and fluctuation in demand for VA's products and services; competition with, and pricing pressures from, more established competitors; VA's success in expanding its SourceForge enterprise software business; the risk that VA's restructuring efforts will not succeed; VA's ability to successfully attract, retain and motivate employees; the possibility of further deterioration in the general economy and its impact on VA and its current and potential customers; VA's reliance upon strategic relationships with other companies and its ability to negotiate, close and implement specific terms relating to them; rapid technological and market change; future guidelines and interpretations regarding software revenue recognition; and VA's ability to protect and defend its intellectual property rights. Investors should consult VA's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended July 28, 2001, for further information regarding these and the other risks of the Company's business. These documents are available at the SEC Web site: www.sec.gov. VA assumes no obligation to update the forward-looking information contained in this news release.
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