Intacct Continues Rapid Expansion of Executive Management Team

Published on February 14, 2008 in Computer & Electronics, Computer Software, Internet, Technology

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Marc Linden Named Chief Financial Officer Marianna Tessel Named Vice President of Engineering

SAN JOSE, Calif. (February 14, 2008) –

Intacct, a leader in on-demand accounting and financial management solutions, today announced the appointment of two industry veterans to its executive management team. Marc Linden joins Intacct as vice president of finance and administration and chief financial officer, while Marianna Tessel joins the company as vice president of engineering. Both Linden and Tessel will report directly to Mike Braun, president and CEO of Intacct. These two new hires round out Intacct’s world-class management team.

Over the past five months, Braun has brought on industry leaders from Intuit, Postini, Google, Ariba, and Mirapoint to head Product Management, Marketing and Business Development, Channel Sales, Engineering, and Finance. Intacct’s explosive business growth, leadership position in Software-as-a-Service (SaaS), opportunity in the multi-billion dollar financial applications market, and award-winning product line in use by thousands of clients and partners led to the recruitment of this talented group of industry experts.

Background on Marc Linden

* Brings Intacct more than 20 years of finance, business strategy, and general management experience
* Joins Intacct from Mirapoint, a market leader in appliance-based solutions for secure messaging, where he served as CFO for the past four years
* Served as CFO for Onebox.com until it was sold to Phone.com and then merged with Software.com to create Openwave (NASDAQ: OPWV), where he then worked as general manager of Openwave’s messaging business unit
* Held positions in corporate development and planning at Octel, a pioneer in voicemail that is now part of Avaya; and served as vice president of business development and CFO for Global Village/OneWorld
* Started career with five years in the technology practice at McKinsey & Company
* Holds an economics degree from the University of California at Berkeley, and an MBA from Harvard Business School

Background on Marianna Tessel

* Brings Intacct more than 15 years of software development and management experience
* Joins Intacct from Ariba (NASDAQ: ARBA), a leading provider of spend management solutions, where she spent more than six years, most recently as vice president of platform engineering
* Managed a large team focused on the Ariba platform, upon which all Ariba applications are built
* Played an important role in transitioning Ariba solutions to a Software-as-a-Service (SaaS) delivery model
* Spent six years on the engineering team at General Magic, a former developer of handheld communication devices, rising to the level of vice president of engineering
* Holds a computer sciences degree from Technicon, Israel’s leading engineering school

Related Intacct Management Team Moves

* Linden takes over for David Rice, interim CFO for Intacct since early 2007. Rice will return to his consulting firm, the Financial Leadership Group.
* Aaron Harris, Intacct’s vice president of engineering for the past six years, has been named Intacct’s chief technology officer. In his new role, Harris will report directly to Mike Braun.

Comments from Mike Braun, Marc Linden, and Marianna Tessel
“We continue to attract top talent to Intacct, as Marc and Marianna add extensive knowledge and diverse experiences to our already strong management team,” said Mike Braun. “Intacct generated record growth in 2007, and Marc and Marianna will each have an important role in helping the company reach its goals for 2008 and beyond. Marc possesses a unique mix of communications, strategy, fundraising, and M&A skills combined with general management experience that will make him my valued partner. Marianna is a strong leader with critical experience developing on-demand solutions that will take our engineering team to the next level.”

“Intacct has established itself as the leader in the on-demand financial management and accounting applications market and the company is primed for tremendous growth,” said Marc Linden. “Intacct offers a solution that is compelling to small and mid-sized companies looking for a better way to run their business. The company has set forth a clear vision for where it is headed, and my background of helping to build fast growing market leaders fits nicely with the existing members of Intacct’s veteran management team.”

“I am a great believer in the SaaS model and the value it brings to clients by allowing them to focus on running their business and not on managing software,” said Marianna Tessel. “My goal is to help make Intacct clients and partners as successful as possible by focusing Intacct’s engineering efforts on delivering the easiest to use, easiest to deploy, and easiest to integrate product on the market.”

About Intacct
Intacct is a market and technology leader in on-demand accounting and financial management applications. The company’s award-winning suite of solutions is used by thousands of small and midsized businesses, from startups to public companies, to manage and share financial, supply chain, and professional services information. Intacct automates key business processes from order entry through cash collection and procurement through vendor payment. The Intacct suite includes accounting, contract management, revenue recognition, inventory, purchasing, vendor management, project management, payroll, and financial reporting applications, all delivered over the Web via Software-as-a-Service. Intacct is the only on-demand financial management suite seamlessly integrated with salesforce.com. As a company grows, Intacct’s deep and mature applications, SAS 70 Type II certification, and documented processes support Sarbanes-Oxley compliance for public enterprises.

Intacct is headquartered in San Jose, California, with operations in Bangalore, India. For more information, please visit www.intacct.com or call 877-437-7765.
Media Contact:
Peter Olson
Tel: 408-878-0951
Email: polson@intacct.com

Source: Intacct

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