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Dulles, VA –August 7, 2009 – Everest® Software, the award-winning provider of a fully-integrated business operating system for small and medium-sized businesses (SMBs), today announces their acquisition by Versata Enterprises, a leading provider of enterprise software solutions.

Founded in 1994, Everest Software developed the first all-in-one small business management solution for small and mid-sized businesses. Designed specifically for retail, wholesale and distribution companies, Everest automates all operations of a growing business including Accounting, Inventory Management, eCommerce, Services, Sales Force Automation, CRM and Point of Sale. Everest Software is the winner of numerous awards, including the SIIA Codie Award for “Best Business Software Product.”

At the direction of Edwin Miller, President & CEO of Everest Software, Everest placed a high emphasis on a customer centric focus and customer outreach, resulting in an expense reduction of fifteen percent and a top line revenue growth of twenty percent to profitability.

“In the past two and half years Everest has achieved remarkable results in both growth and profit, even in a recessionary market. This was accomplished by differentiating models, through sales and marketing and by adoption of agile development methodologies and a keen focus on the customers. Customers enjoyed the release of a market leading eCommerce platform and the first ever Everest World user conferences with hundreds of customers participating. Everest World will continue as planned this fall,” said Edwin Miller, President & CEO of Everest Software.

Under the acquisition, Everest will operate as a stand-alone entity with a dedicated customer service and product team. With a strong focus on customer success, the integration will begin with the implementation of Versata’s Customer Success program, focused on creating and maintaining successful customer relationships by aligning product development with customer priorities.

“Versata’s Customer Success program demonstrates a relentless focus on the customer. It will provide dramatic expansion to the Customer Outreach programs that Everest began in 2007. This is an exciting opportunity for our customers and employees,” said Paul Gallagher Vice President of Marketing.

Everest investors have been instrumental in the success of Everest Software. John Burton, Managing General Partner, Updata Venture Partners; Tim Guleri, General Partner, Sierra Ventures; Andy Jones, General Partner, Boulder Ventures and Donald Peck, Managing Director, South Asia, Actis Capital LLP are all respectfully recognized for their firm commitment to Everest Software and for their astounding vision for the SMB Market. Burton’s unwavering commitment and thoughtfulness coupled with his keen business insight has allowed the company to grow and prosper, even in the current economic climate. Guleri’s focus on the technology behind Everest led to the next generation platform behind a market leading eCommerce platform. Jones’ financial model drove Everest to become a profitable business. Peck’s early support for the company vision was key to enabling Everest’s start.

Bijal Mehta and Sanjay Shah are respectfully recognized for their contribution as founders of Everest Software (formerly known as iCode), and for their vision, passion, and hard work in building the company and its products, as well as their assistance facilitating this monumental merger.

Ali Jani is respectfully recognized for his contribution as the founder of Everest Software (formerly known as iCode), and for his vision, passion, and hard work in building the company and its products, as well as his assistance facilitating this monumental merger. Jani’s dedication to the customer and to the product has been unwavering in his thirteen year tenure with Everest. Without Ali’s vision for the product and insight into the SMB market, Everest Software would not be the market leader that it is today.

Everest Software would like to formally recognize several employees that have been key to the growth and success of the company. Mike Berry, Shubhradip (Sean) Chatterjee, Anita Vettickal, Dhiren Chhapgar, Diana Hess, Steven (Phillip) Kennedy, Nayan Mansinha, Rashmo Mehra, Anand Panchamia, Murali Rajendran, Kim Seiger, Jay Vanikar and Ryan Brown are all to be commended on their commitment to the company and product.

About Everest Software, Inc.
Everest® Software enables companies to manage every function of their business more effectively. This single solution, fully-integrated business management software application addresses the challenges of growing small to medium businesses (SMBs), primarily in retail and wholesale. Customers can dramatically increase their efficiency and profitability with a solution that provides a remarkably rapid return on investment. Everest Software was a finalist for a 2006 American Business Award in the category “Best New Computer Software Product” and is the proud winner of numerous awards including the SIIA Codie Award for ”Best Business Software Product.” For more information, please visit http://www.everestsoftwareinc.com, e-mail us at [email protected] or call us at 1.800.382.0725.

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