News ReleaseSiterra Corporation Appoints Bernard Fried as New CEO; Centennial Ventures Leads Series C FinancingCompany Gears Up for Market Expansion NOVATO, Calif. — October 25, 2005 — Siterra Corporation, the leading provider of project, document and property management solutions for companies that manage large numbers of high value real estate properties and operating assets, today announced that it has selected software industry veteran Bernard Fried to lead the next phase of the Siterra growth strategy. Mr. Fried replaces Paul Remer, who co-founded the company and served as CEO since inception. Mr. Remer will remain on the Board of Directors and play an active advisory role. Siterra also announced today that it has raised an additional round of financing to fuel its expansion in the wireless market and other verticals. "Our current customers include some of the most successful and profitable companies in their respective industries. Siterra will continue to invest in helping these customers reach operational excellence," said Bernard Fried, CEO of Siterra. "In addition, Siterra is now in an ideal position to bring that same operational vision, success and leadership to new markets beyond wireless. We have the right combination of funding, partnerships, industry expertise, executive talent, and product breadth to offer the operational advantages of a lifecycle solution to a broader audience." Prior to joining Siterra Mr. Fried was CEO of Citadon, a venture-backed applications service provider (ASP) that offers collaborative software solutions for product lifecycle management across multiple markets. Mr. Fried also served as CEO of VBS, a securities industry transaction and back office services provider, where he led the creation of a self-clearing, NASD/SEC licensed company. Mr. Fried held many senior executive positions at the Bechtel Group, one of the world's leading, privately owned global engineering and construction firms. As founder of Bechtel Business Services, Mr. Fried was responsible for the integration of both HR and Financial systems into a Shared Services operating entity. Also during his tenure at Bechtel, Mr. Fried was the CFO and Managing Director of Bechtel Enterprises. Before that he held various positions at Asea Brown Boveri (ABB) in Canada, the U.S, and Switzerland. Most notably he was Vice President of Finance at ABB's head office in Zurich. Mr. Fried holds an MBA from Concordia University and is a Professional Engineer and graduate of McGill University. The company also announced that it has closed a Series C financing round led by Centennial Ventures. Centennial Ventures was joined by previous investors, Catamount Ventures and Raycliff Capital, as well as new investor, The Hillman Company. "Siterra is well positioned for growth," said Jeffrey Schutz, a managing director at Centennial Ventures and director of Siterra Corporation. "The latest round of funding will provide the necessary capital to allow Siterra to move even more aggressively into new markets while still providing the high levels of service and innovation that our existing customers demand." About SiterraSiterra Corporation is the leading provider of Web-based, collaborative software solutions for the lifecycle management of property and operating assets in the wireless, retail, corporate real estate and energy markets. Founded in 2001 and backed by leading technology investment firms, Siterra uniquely enables organizations with geographically dispersed assets to accelerate the development and construction of new sites and properties and streamline their leasing, ongoing operation and maintenance activities, significantly increasing their return on investment. Siterra's solutions are used in connection with more than 300,000 properties and assets worldwide for companies of every size. For more information, please visit www.siterra.com. About Centennial VenturesCentennial Ventures is an innovative venture capital firm that invests in the rapidly changing world of communications. For over 20 years the firm has partnered with extrordinary entrepreneurs to build successful network enterprises and related enabling technology and software companies. In addition to investing more than $1 billion in 170 businesses since 1986, the firm has helped many of its portfolio companies grow into market leaders by offering unique resources in four critical areas: people, plans, money, and partners. For more information, please visit www.centennial.com. Contact:Molly Hemmeter |
