Jacada (Nasdaq: JCDA; TASE: JCDA) has named company present Paul O’Callaghan as CEO, replacing Jacada founder and CEO Gideon Hollander. Hollander will become chairman, replacing Yossie Hollander who will continue to serve as Director. The appointments come into effect on January 1.
Before joining Jacada in May 2006, O’Callaghan held a number of senior posts Optio Software, Cisco Systems Inc. (Nasdaq:CSCO), IMNET Systems, XACCT Technologies, Idapta and Network Systems Corporation.
Jacada simultaneously announced the sale of its application modernization business to business infrastructure software developer Software AG (FSE: SOW), Europe's fifth largest software company for $26 million in cash.
Jacada is selling both the intellectual property and related customer contracts associated with the following products: Jacada Terminal Emulator, Jacada Studio, Jacada Innovator, Jacada Interface Server and Jacada Integrator, also known as Jacada HostFuse. The company has retained the right to develop, market, sell and support Jacada Interface Server and Jacada HostFuse in support of its call center solutions business and will also maintain the intellectual property rights for Jacada WorkSpace and Jacada WinFuse, and all rights to the Jacada brand and trademark.
O’Callaghan said, “This transaction marks a major milestone in the transformation of Jacada and positions us to enter 2008 with a singular focus on our call center solutions business. During the past three years, our call center solutions business has grown 61% and represents 95% of our $12.9 million backlog as of September 30, 2007. We expect that the growth we have seen in this business will continue at a similar pace throughout 2008.
Jacada closed at $3.81 on Nasdaq yesterday, giving a market cap of $78 million. The share rose 0.9$ in morning trading on the TASE today.
Published by Globes [online], Israel business news - www.globes-online.com - on December 20, 2007
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