Proven Software Industry Executive to Drive Business Growth in Rapidly Expanding Talent Management Market
HRchitect featured Authoria in our May 2008 release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Acquisition Systems and Talent Management Systems vendors that businesses should consider. HRchitect is also the leading implementation consulting firm for the Authoria Recruiting product.
Authoria, Inc., the market leader in comprehensive talent management software solutions, recently announced the appointment of James J. McDevitt as President and Chief Executive Officer. Mr. McDevitt will continue to serve as a member of Authoria’s Board. Mr. McDevitt brings 27 years of management and technology industry experience to the post. He joins Authoria after a proven track record of developing corporate strategies that have significantly enhanced efficiency, profitability and market penetration for several international public software companies. Founder and previous CEO, Tod Loofbourrow, will serve as Chairman for Authoria.
As previously announced, Bedford Funding, a $400 million private-equity firm (with an additional $400 million available in co-investment capital) specializing in investments in the software and IT services sector, acquired Authoria in September of 2008 for $63.1 million and committed to making additional investments in working capital to enhance marketing and sales initiatives and to accelerate overall corporate growth of the company.
Prior to joining Authoria, Mr. McDevitt was most recently Chief Operating Officer of CDC Software, a $360 million division of CDC Corporation and a global provider of enterprise software solutions and services to medium and large enterprises. During his tenure with CDC, Mr. McDevitt was focused on streamlining the CDC Software business, building accountability throughout the organization, and integrating acquisitions. Within 18 months, the company reported record quarterly revenues for the nine months ending September 30, 2008; generated positive operating cash flows for three consecutive quarters; and improved Adjusted EBITDA for the most recent quarter by 190 percent as compared to the same quarter a year prior.
For more information on Authoria, please visit www.authoria.com
Matt Lafata, HRchitect