Meridian Project Systems Co-founder Leaves Company
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Meridian Project Systems Co-founder Leaves Company

David Towert leaves the CTO role; remains on MPS Board

FOLSOM, Calif. (July 11, 2003) -- David Towert, co-founder and chief technology officer of Meridian Project Systems (MPS), will leave the company this summer to start another software company. He will remain closely involved with MPS as a board member and investor, but will step down as CTO. Towert's daily management duties have been transferred to John Brown, vice president of development, and to David Ing, chief software architect.

"My true passion as an entrepreneurial software developer originally led me to co-founding Meridian, and growing this organization over the last ten years has been extremely rewarding," said David Towert. Towert started the company in 1993 with co-founder and MPS president, John Bodrozic. The pair set out to fill a void in the project management software arena for a comprehensive project controls tool; they launched Prolog in 1994.

Over MPS' 10-year history, Prolog has grown from a single product into a six-member product family -- the Prolog Application Suite. In addition, MPS recently unveiled Proliance after an intensive three-year software development program. Proliance is an Internet based enterprise business process management solution fully developed using the Microsoft .NET application framework to leverage XML technology and Web services.

Both Prolog and Proliance are offered as self-hosted software solutions as well as online via ProjectTalk, a subscription based deployment model hosted by MPS. Today, MPS provides a comprehensive product portfolio that reduces costs and risk, controls schedules, and efficiently manages business critical information on corporate real estate projects and other capital-intensive construction initiatives.

"Dave's entrepreneurial spirit was key in getting MPS where it is today; so, I'm pleased he will continue to work with the company as a board member and influence the technical direction of our product line," said John Bodrozic.

Towert will also provide technology consulting services to MPS. "Dave's astute technology vision has positioned MPS for our next phase of growth serving the enterprise market through next generation technology platforms," said Jim Olsen, MPS chief executive officer. Olsen joined MPS last November, when he assumed the CEO responsibilities from Towert.

"Now that we have assembled a talented management team and delivered a new leading-edge product and solution portfolio, I can embrace new challenges requiring more of an entrepreneurial focus," said Towert. He added, "MPS is hitting its stride as a growth company and is very well-positioned for the future."

MPS thanks David Towert for his outstanding leadership over the years and wishes him continued success in his career.

Meridian Project Systems develops project management software that improves financial performance and reduces risk on large corporate real estate projects and other capital-intensive construction initiatives. Over 7,500 of today's leading business enterprises, government agencies, and AEC (architecture, engineering, and construction) firms use MPS products to accurately plan, budget, and track all aspects of the real estate project lifecycle.

MPS is also unique in providing both self-hosted software and hosted ASP-based solutions, and ranks as the market share leader in project management software and collaboration software used by construction companies over $250 million in revenue*.

In the Business of Projects since 1993, MPS appeared on Inc Magazine's INC 500 list of fastest growing companies in the United States in both 2000 and 2001. MPS is headquartered in Folsom, Calif., with offices in D�sseldorf, Germany; and Vancouver, British Columbia with additional representation through its global channel partner network in locations around the world.

*Statistics excerpted from CFMA's 2002 Information Technology Survey for the Construction Industry, fourth edition with the permission of the Construction Financial Management Association, Princeton, NJ, 609-452-8000

Sue Watkins
Meridian Project Systems
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