News

Adelaide, June 9, 2005:  NetPriva Pty Ltd today announced that it had completed purchase of the key assets of Foursticks.

The purchase is a management buyout of the South Australian network performance software developer, which went into administration in late April 2005.

The new company will be headed by Chief Executive Officer Alan Noble, the former Chief Technology Officer at Foursticks.  The NetPriva board is headed by Executive Chairman Peter Vroom, who is also Director Sales & Marketing for the new organisation.

NetPriva has engaged a core development and support team that includes network software specialists led by Head of Engineering Simon Jolly.

Peter Vroom said that the company had quickly attracted new investment, enabling the MBO to be negotiated within a short timeframe.

“We have been gratified to receive such positive support, including investment from two distributors who are working at the customer coal face,” Mr Vroom said.

“This clearly demonstrates that they have great confidence in both the product technology and the ability of the team to succeed in the marketplace.”

CEO Alan Noble said that the NetPriva will continue to offer world-class sales and technical support to Foursticks business partners and customers including Adecco, BG Phoenix, Bridgestone, Hardy Wines, KBR Halliburton, Orlando, Saab Systems, Santos, smart car, and VW Bank.

“We are now running a lean organisation with a promising pipeline of customers,” Mr Noble said. “Our first priority is to consolidate our markets in Europe and Australia, and we have been lucky to be able to appoint skilled software specialists in a tight IT employment market, as well as technical sales specialists with experience in both regions.”

NetPriva will announce new product releases of its NP suite of software over the coming months, providing significant capabilities that will increase customers’ return on investment in their corporate networks.

“NetPriva looks forward to making this vote of confidence by our partners and customers an export and employment success story for Australia.”