SAN MATEO, CA June 3, 2015 — Selectica, Inc. (NASDAQ: SLTC), a leading provider of Supply Management and Enterprise Contract Lifecycle Management, announced changes to the executive team. Effective today, the Board of Directors has appointed Patrick Stakenas as President and Chief Executive Officer and a Director. Mr. Stakenas joined the Company as Chief Strategy Officer, from Gartner, after driving ForceLogix Technologies through its IPO and sale to CallidusCloud (NASDAQ: CALD).
“Over the past eighteen months, Patrick has successfully pioneered Selectica’s strategic approach to Supply Management and Enterprise Contract Lifecycle Management,” said Selectica’s Executive Chairman Michael Brodsky. “He has fueled the organization’s growth through organic and inorganic measures by architecting the Company’s innovative strategy to acquire Iasta and the Company’s anticipated acquisition of b-pack, a global leader in purchase-to-pay software.”
“At Gartner, I saw the opportunity at Selectica to extend the Contract Lifecycle Management business into the Supply Management space. Today, the Company is now one of the leaders in Supply Management and Enterprise Contract Lifecycle Management,” said Mr. Stakenas. “The market has recognized the value in our strategy and execution, resulting in recent increases in sales momentum. We look forward to sharing further details in our earnings call next week.”
As part of the transition, Blaine Mathieu has resigned as President and Chief Executive Officer and member of the Board of Directors of the Company. “We thank Blaine for his dedication to Selectica and for steering the Company over the past one and a half years, and we wish him well in all of his future endeavors,” said Mr. Brodsky.
About Determine, Inc.
Determine (NASDAQ: DTRM) is a provider of leading enterprise cloud software solutions with over four decades of collective technical and process knowledge in the areas of strategic sourcing, enterprise contract lifecycle management, and procure to pay solutions. We provide the next generation of agile, enterprise cloud solutions for managing the needs of modern business. Using our intuitive applications, organizations can effectively manage the full scope of source to pay and enterprise contract lifecycle management requirements using the Determine platform.
The Determine platform is an open technology infrastructure based on smart process application models. The goal of our platform is to establish awareness of relevant data, manage business documents, embed analytical tools, create a means for collaboration, and provide advanced process management tools for fully integrating business processes through an open API infrastructure. Built on a unified and highly scalable platform, we deliver deep and innovative capabilities in strategic sourcing, supplier management, enterprise contract lifecycle management, e-procurement, invoicing, and other business operation areas.
In addition to our source to pay and enterprise contract lifecycle management solutions suite, we also provide a powerful, patented configuration engine solution, which Global 1000 companies use to increase revenue by facilitating the right combination of products, services, and price.
For more information, please visit: www.determine.com.