Corrections or additions?
This article by Barbara Fox was prepared for the April 3, 2002
edition of U.S. 1 Newspaper. All rights reserved.
Life in the Fast Lane
Princeton Softech on Campus Drive will be able to buy
itself back from Computer Horizons Corp., thanks to a $21 million
acquisition and financing deal with two private equity firms, Apax
Partners (www.apax.com) and LLR Partners (www.llrpartners.com).
Founded in 1989, Princeton Softech was number 77 on the Inc. 500 list
five years later and had 37 employees. In 2000, founder Joe Allegra
sold it to Mountain Lake-based Computer Horizons and more than doubled
his space with a move to 52,000 square feet on Campus Drive at
University
Square. Then he ceded the CEO spot to Lisa Cash, formerly the
company’s
vice president of North American sales. Cash is an alumna of Penn
State (magna cum laude, Class of 1987), and had worked for Club
Corporation
for America in Pittsburgh and for Bell Atlantic.
Cash says the buy-back transaction "is a powerful endorsement
of our business and of the active archiving category as a whole,
especially
given today’s economic climate and highly selective venture
community,"
says Lisa Cash, Princeton Softech’s CEO.
By storing data in "smarter" ways, Active Archive Solutions
offer a thrifty way to speed up data response times and maintain
service
levels. It sets aside infrequently used data yet keeps it "at
the ready" for easy access. In particular, it can restore just
one record from a data set, yet maintain the proper relationships
between the records. With corporate databases growing at 40 percent
a year, the market for data management is supposed to be $5.7 billion
by 2005, according to Gartner Dataquest estimates.
"We are convinced that active archiving will become a critical
element in the next decade," says Evangelos Simoudis, partner
at Apax Partners. "In just 12 months, Princeton Softech
established
the active archiving category, captured thought leadership, and signed
Fortune 500 clients."
Princeton
08540-1423. Lisa Cash, president. 609-627-5500; fax, 609-627-7799.
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