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- Ex-Tarantella and Acorn director to inject commercial impetus to technology company

- Previous MD becomes Chairman

Leeds, England - February 13th 2001 - Hydra Development Corporation, the fast-growing specialist in multi-project management software, has appointed Peter Bondar as CEO and Managing Director. The appointment signals the start of a new and aggressive phase of growth for the company, which has spent over four years developing and refining an advanced program management system to help enterprises manage multiple, simultaneous projects.

Peter Bondar has over 20 years in senior management positions within the IT industry, including most recently at the rejuvenated Tarantella, Inc., transforming the company from a static, loss making, Internet product-based business to a high-growth, commercial business, in just 12 months. Peter Bondar's success as VP Marketing Worldwide saw Tarantella, Inc. increase quarterly revenues from $100k to $5.7m and grow to subsume its parent company, SCO, The Santa Cruz Operation, Inc.

Prior to his time at Tarantella, Peter was Executive VP of Acorn Computer Ltd., creating a highly successful internal business unit, growing from 18 people to 80 in under 14 months. This was subsequently sold to Pace plc. During this time Peter also oversaw the hugely successful ARM IPO as a non-executive Director of ARM, the embedded microprocessor design organisation.

In his new role at Hydra Development, Peter Bondar plans to reposition the private company as a strategic partner for corporates involved with multiple, complex projects. Hydra Development's established product, Hydra set will be extended and broadened with the introduction of new technologies and service offerings.

"Project management has run out of steam," commented Peter Bondar. "Corporations can no longer successfully deal with the nightmare of managing resources by using traditional tools. Hydra Development has developed and proven the concept of program management, which harnesses scarce resources around the world and delivers them where they are needed. Hydra has huge potential in every aspect and I am very excited to be part of the venture."

Bondar continues, "for me, the Hydra product is like a 21st century screwdriver when compared to the 1960's hammer that represents the concepts and techniques that underpin the vast majority of other project management software."

Geoff Reiss, founder and previous MD, has been appointed Chairman, and will continue in his role of product visionary and industry 'guru'. Geoff Reiss is author of Programme Management Demystified - the first published book on the topic, and is Chairman of ProgM, - The Program Management Specific Interest Group of the Association for Project Management and the British Computer Society.

Hydra Development Corporation, based in West Yorkshire's "Silicon Dale" designs, develops and markets program management software and services. Founded in 1996, the fast-growing company spent over four years pioneering the concepts of program management whilst developing and refining its launch product and has quickly established an international customer base of 32 global organisations, with over 5,000 users.

Hydra, the product, is a complete program management suite, offering resource-centric, multi-project, multi-site planning capabilities. Hydra's patent based, pre-emptive scheduling technology allows organisations to successfully plan and implement multiple simultaneous projects without the limitations of discrete task-centric project management tools.

Contacts for information: -


Peter Bondar

Hydra Development

T: [44] 1943 858 858

E: peter.bondar@hydradev.com


Peter Linton

Media Link

T: [44] 118 984 3386

E: peter@medialink.co.uk

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