Keynote Systems Inc. today announced a series of executive changes-including the resignation of Patrick Quirk, executive vice president of worldwide customer operations-as preliminary second quarter revenues fell below expectations.
Keynote estimates that revenues for the quarter ended March 31 will reach $12.5 million to $13 million, compared with the company’s total revenue guidance range between $13.5 million and $14 million. Keynote will announce final second quarter results on May 2.
Other executive changes announced today included the appointment of Jeff Kraatz, formerly vice president and managing director of Asia Pacific sales, as vice president of sales for the Americas and Asia Pacific; and Don Aoki, formerly vice president of engineering and operations, as senior vice president of corporate development.
Keynote today also announced the acquisition of Sigos, supplier of mobile data network testing and active service monitoring systems to major wireless operators in Europe, for $30 million in cash. In addition, Keynote will pay earn-out proceeds up to an additional $9.6 million in cash if certain revenue and profitability milestones are achieved during 2006. Sigos will operate as a stand-alone subsidiary of Keynote.
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