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Press Release
Software Architects, Inc. and Fremont Partners Announce Equity Partnership
 


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Chicago, Illinois - March 23, 2000

Software Architects, Inc., a leading e-commerce solutions provider for Fortune 500 and dot-com companies, today announced an undisclosed equity partnership with Fremont Partners, a private San Francisco-based equity investment firm.

The deal will help Software Architects expand its operations and prepare the company to go public. Fremont Partners will take a majority position in the company, act as advisors and serve on the Board of Directors along with industry experts.

Founded in 1978, Software Architects is an $80 million company with more than 800 employees and consultants in 11 offices nationwide. The company’s client roster includes Qwest Communications, Victoria’s Secret Catalogue, Digital Storage, BMW Financial Services, and Verio. Software Architects is a partner-level Microsoft Solution Provider and Microsoft Certified Technical Education Center.

“Software Architects provides excellent technology solutions in the e-commerce, Internet and custom systems space. The partnership with Fremont Partners will help us grow, share the company’s future success with employees through a stock options pool, attract new talent, better serve clients and gear up to go public,” said Gene Petrie, chief executive officer of Software Architects, Inc. “We look forward to a great relationship with Fremont Partners.”

“Software Architects has the right combination of experience in the field of e-commerce, an impressive track record, a diverse client roster, and a talented management and employee pool,” said Mark Williamson, managing director of Fremont Partners. “We see tremendous potential for the company and we’re excited about the partnership.”

About Software Architects, Inc.
Software Architects is headquartered in Chicago, Ill., with offices in Atlanta, Cincinnati, Cleveland, Columbus, Dallas, Denver, Houston, Minneapolis, Phoenix, and Tampa. The company has plans to open two new offices by year-end.

About Fremont Partners
Fremont Partners is a private equity firm based in San Francisco with approximately $1 billion available for investment in privately negotiated transactions. The Fremont Group, a private investment company with over $11 billion in assets under management, is their largest investor. Fremont Group is controlled by members of the Bechtel family, founders and owners of Bechtel Engineering, a global engineering firm with approximately $13 billion in revenue. Fremont Partners has completed over $3.5 billion in transactions since 1990 and has realized annual returns in excess of 65%.