Shaun Wolfe to Become WRQ President and CEO
LONDON, December 7, 2004 — Francisco Partners, one of the world’s largest technology-focused private equity funds, and Thoma Cressey Equity Partners, Inc., a leading private equity firm, today announced a definitive agreement to acquire WRQ, Inc., a developer of software for accessing and integrating legacy applications. Terms of the deal were not disclosed. The acquisition is expected to be complete by year’s end.
“With WRQ’s financial performance, reputation and large loyal customer base, the company now has even greater growth potential,” said Doug Walker, co-founder and CEO of WRQ. “The resources and expertise of Francisco Partners and Thoma Cressey Equity Partners will better enable WRQ to deliver on that potential and further position WRQ as a market leader. WRQ looks forward to continuing to serve our customers and offer new products and services to them in the future.”
WRQ, founded in 1981 and based in Seattle, will maintain its leadership in the host access and host integration markets via its WRQ Reflection® and WRQ Verastream® product lines. WRQ currently serves over six million customers worldwide.
Upon completion of the acquisition, Shaun Wolfe will become president and CEO of WRQ. Previously president and chief operating officer, Wolfe has been with WRQ since 1993. During his tenure at the company, Wolfe has held several key management, marketing and executive positions. Wolfe will assume the role of CEO from Walker, who today announced his upcoming retirement from WRQ.
WRQ® builds software for accessing and integrating legacy applications. WRQ Reflection® software provides a broad range of terminal-emulation and PC X-server solutions. WRQ Verastream® integration server provides a single platform for reusing legacy logic and data in web applications, CRM applications, or portals. Our products help companies get the most from their hosts today as they advance their long-term IT strategy.
Established in 1981, WRQ is one of the largest privately held software companies in the U.S. It has over six million users worldwide and the highest customer-support rating in the industry. Three out of four of Global 500 companies rely on WRQ daily. Access. Integrate. Transform.®
About Francisco Partners
With $2.5 billion of committed capital, Francisco Partners is one of the world’s largest technology-focused private equity funds. The firm was founded to pursue structured investments in technology companies undergoing strategic, technological, and operational inflection points. Francisco Partners targets majority and minority investments in private companies, public companies, and divisions of public companies, with transaction values ranging from $30 million to $2.0 billion. The principals of Francisco Partners have a proven track record, having invested in excess of $3.0 billion of equity capital in over 50 technology companies. For additional information, visit www.franciscopartners.com.
About Thoma Cressey Equity Partners
Thoma Cressey Equity Partners is a leading private equity investment firm that has been providing equity and strategic support to experienced management teams building growing companies for almost 25 years. The firm originated the concept of “industry consolidation” or “buy & build” investing, which seeks to create value through the strategic use of acquisitions to accelerate business growth. Thoma Cressey’s investment focus is on profitable, middle-market companies in the software, healthcare, business services and consumer products and services industries. The firm provides equity capital for buyouts, MBOs, growth equity investments, and going private transactions. More information about TCEP can be found at www.thomacressey.com.
Copyright © 2004 WRQ, Inc. All rights reserved. WRQ, the WRQ logo, Reflection, Verastream, and “Access. Integrate. Transform.” are either registered trademarks or trademarks of WRQ, Inc., in the USA and other countries. Some Reflection products include software developed by the OpenSSL Project for use in the OpenSSL Toolkit (http://www.openssl.org). All other trademarks, trade names, or company names referenced herein are used for identification only and are the property of their respective owners. USA patents pending.
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