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IDe Board of Directors Appoints Craig Divino New Chief Executive Officer
Concord, MA (May 11, 2005)—Integrated Development Enterprise, Inc. (IDe®), the leading provider of software solutions for integrated development in the product portfolio management (PPM) market, today announced the appointment of Craig D. Divino, a 27-year veteran of product development and technology-based companies, as the company’s new Chief Executive Officer, effective May 6, 2005. Divino succeeds Richard Moore who remains a shareholder. Moore took the company to profitability in fiscal year end January 31, 2005 and leaves to start a new venture.
Divino, 52, will lead IDe to its next level of growth in the rapidly expanding PPM marketplace, also known as the business decision-making layer of Product Lifecycle Management. Divino and team will focus efforts on growing IDe services offerings and strategic partnerships, while maintaining high quality service to IDe’s rapidly growing installed base of Fortune 1000 and leading privately held companies.
"The opportunity is now for IDe to grow the product portfolio management market exponentially and I am privileged to lead the exceptional team at IDe in this effort,” said Divino. “I look forward to helping the company identify and grow new business opportunities quickly."
IDe applications and services extend visibility and provide integrated, on-demand information for better business decision-making on project and product sequence for optimal resource utilization to deliver against revenue objectives. IDe’s IDeWeb™ provides the most comprehensive and integrated platform of applications, with functionality that is easy-to-use and deploy. Industry-leading manufacturers depend on IDe’s innovative solutions and development best practices to cut costs, hit product launch dates, and increase revenue from new products.
"We are in the next generation of product development management, a time period when growth companies are focused on increasing development productivity, reducing development costs and being more responsive to and profitable on new market opportunities," said Michael McGrath, chief executive officer of i2, co-founder of Pittiglio Rabin Todd & McGrath (PRTM) and founder and chairman of IDe. "IDe developed IDeWeb to address these market needs; the growth opportunity for IDe is enormous. I worked with Craig for many years at PRTM and am pleased that he accepted this opportunity to lead IDe through its next phase of growth and beyond."
"Craig has more than 20 years of experience as a director of PRTM, growing the company from its early stages to over $150 million in revenue during his tenure and leading expansion into Europe. His leadership role in developing and managing products -- as well as his experience on boards of numerous early and later stage technology companies, including IDe -- is critical to accelerating growth in this marketplace today," said Steve Ricci, senior partner and vice chairman of Flagship Ventures.
Divino, currently serves on the board of PRTM Atlantic Ventures 2000 L.L.C., a venture capital fund established by PRTM to invest in early stage companies. He is also a member of the advisory board at Blue Agave Software, Inc., an early stage company developing supply chain event management software applications for retail companies. Divino is on the board of directors at Central Catholic High School and for the first six months of 2004 functioned as the school’s president. He received his MBA from the Boston College Graduate School of Business and his BA in economics from Boston College. He is also an active member of the Boston College Gasson Society.
IDe (www.ide.com) is the leading provider of product portfolio management software solutions for integrated development. IDe’s IDeWeb software automates and integrates business decision-making to align corporate and business strategy and planning, program execution, and operational excellence for best-in-class companies worldwide.
Denise Harrington
Integrated Development Enterprise, Inc.
+1 (978) 402-2833
dharrington@ide.com
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