Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
As David Fry steps back to pursue personal interests, chief technology officer and vice president of sales Rudy Pataro steps up as president.
In what he says will be a gradual transition, David Fry, president of web design, development and managed services vendor Fry Inc., is moving to a part-time role with the company he founded in 1994. Rudy Pataro, who joined the company in 2001 and currently serves as both chief technology officer and vice president of sales, will head the company as president.
Fry, who will remain involved with the company as a strategy consultant and will continue to work with major customers, says he plans to take a larger role in his family’s long-time printing business. Fry says that’s part of the reason he sold the company last year to enterprise applications vendor Micros Systems Inc. for $49.7 million.
That deal brought Fry’s Open Commerce Platform and other e-commerce technology into the Micros Systems portfolio, which previously focused on point-of-sale and loss-prevention applications. It also extends Fry’s reach into the hospitality industry where Micros is well established, and other industry sectors, as well as internationally.
“I’m proud of the way we’ve grown the company,” says David Fry . “You can look for more from Fry.”
Pataro has overseen the company’s strategic services group, where he’s been responsible for the technical expertise delivered to Fry’s clients. He also has lead business development efforts, including the development of partnerships and product offerings.
“It’s been a pleasure to learn and grow alongside Dave for many years. He has developed a prosperous culture at Fry for clients, employees and partners, one that has positioned the company for continued success. I look forward to continuing the tradition that he has built and will be focused on accelerating Fry’s overall growth as well as integration with Micros Retail,” Pataro says.
Pataro’s experience in information technology prior to joining Fry includes working as chief technology officer for Borders.com, where he was responsible for the site’s technology design, implementation, legacy integration and hosting systems. Previously, Pataro was a consultant to multinational firms on system strategy, architecture, and development.
The company began telling its customers about the management change two months ago, Fry says.