Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
Global eXchange Services, a provider of data transaction services for many large retailers, has appointed Gary Greenfield, former CEO of Peregrine Systems, as its new president and CEO. He replaces Harvey F. Seegers.
Global eXchange Services, a provider of data transaction services for many large retailers, has appointed Gary Greenfield, former CEO of Peregrine Systems, as its new president and CEO. He replaces Harvey F. Seegers, who has resigned after having managed GXS since 1996.
GXS and Seegers agreed it was time to make a change in the company’s top position, a spokesman says. He declines to offer further details about what led to the change, but notes that GXS will continue to focus on the retail industry as well other vertical markets including the automotive industry and high-tech manufacturing.
GXS, which was acquired from General Electric Co. by Francisco Partners in September 2002 and is now privately held, does not report financial numbers. It last reported financials for the year ended Dec. 31, 2002, reporting estimated revenues of $409.5 million, down 12% from $464.26 a year earlier.
Greenfield steered Peregrine, a provider of infrastructure management software, through a reorganization under U.S. Bankruptcy Court between June 2002 and August 2003. Prior to Peregrine, he was president and CEO of Merant, an e-business applications company, from November 1998 to October 2001. He had earlier served as CEO of Intersolv, which merged with Micro Focus to form Merant in 1998. Greenfield “has experience growing businesses organically and through acquisition, managing development, marketing and operations, and serving diverse sets of customers from small businesses to the Fortune 500,” GXS said in a statement.
Greenfield is also a member of the board and past chairman of the Information Technology Association of America.
The spokesman says Seegers has not announced any personal plans.