September 19, 2014 3:46 AM ET

Software

Company Overview of Versant Corp.

Company Overview

Versant Corp. develops and delivers database management software for complex and mission-critical applications that help companies to handle complex information. It offers Versant Management Center, a monitoring and administration tool for the Versant Object Databases; Versant Compact that is designed for applications that delete large numbers of objects; Versant FTS, an add-on module that enables automatic fail-over and recovery in the case of hardware or software failure; and Versant HA Backup, an add-on module that enables the Versant Object Database to utilize the disk mirroring features of EMC Symmetrix or other enterprise storage systems. The company also provides Object Database that ...

255 Shoreline Drive

Suite 450

Redwood City, CA 94065

United States

Founded in 1988

Phone:

650-232-2400

Fax:

650-232-2401

Key Executives for Versant Corp.

Managing Director
Vice President of Technology
Vice President of Software Engineering
Vice President of Sales - Americas & APAC
Compensation as of Fiscal Year 2014.

Versant Corp. Key Developments

Versant Corp.(NasdaqGM:VSNT) dropped from NASDAQ Composite Index

Versant Corp. will be removed from NASDAQ Composite Index

Versant Corp. Announces Executive Changes; Announces Amendment to Bylaws

On December 21, 2012, Versant Corp. completed its acquisition by Actian Corporation, pursuant to the terms of the Agreement and Plan of Merger, dated as of November 21, 2012, among the company, Actian and Actian Sub I Inc. (Merger Sub), and a wholly-owned subsidiary of Actian, providing for the merger of Merger Sub with and into Versant, after which Versant continues as the surviving corporation and as a wholly-owned subsidiary of Actian. As of the effective time of the merger on December 21, 2012, Uday Bellary, Anthony Bettencourt, Dr. Robert Brammer, William Henry Delevati, Herbert May and Bernhard Woebker, who comprised all of the members of Versant's board of directors at the time of the Merger, resigned from the board of directors of Versant and the directors of Merger Sub became the members of the board of directors of Versant as of the Effective Time. In addition, at the effective time, the Board-appointed officers of Versant in office at the time of the merger, including Bernhard Woebker, (Chief Executive Officer and President), Jerry Wong (Vice President, Finance, Chief Financial Officer and Secretary) and Paul McCullugh (Executive Vice President of Worldwide Sales and Marketing) resigned their offices, but not their employment as of the effective time, with Versant and the officers of Merger Sub became the officers of Versant. In connection with the consummation of the Merger, Versant's bylaws were amended and restated to be identical to the bylaws of Merger Sub as in effect immediately prior to the effective time.

Versant Corp. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended October 31, 2012

Versant Corp. announced unaudited consolidated earnings results for the fourth quarter and year ended October 31, 2012. For the quarter, the company reported total revenues of $4,231,000 against $3,979,000 a year ago. A decrease in the euro/dollar exchange rate during the quarter had the effect of decreasing total revenues by approximately $0.2 million for the quarter compared to the corresponding period of the prior fiscal year. Loss from operations was $1,022,000 against income from operations of $441,000 a year ago. Loss before income taxes was $1,038,000 against income before income taxes of $493,000 a year ago. Net loss was $1,974,000 or $0.72 per basic and diluted share against net income of $304,000 or $0.10 per basic and diluted share a year ago. The loss from operations compared to income from operations for the same quarter in fiscal 2011 was largely the result of planned increases in sales and marketing expense and research and development expense of approximately $0.3 million and $0.5 million, respectively. For the year, the company reported total revenues of $15,461,000 against $16,272,000 a year ago. A decrease in the euro/dollar exchange rate during fiscal 2012 contributed approximately 88% of the decrease in total revenues for fiscal 2012 compared to fiscal 2011. Loss from operations was $2,009,000 against income from operations of $946,000 a year ago. Loss before income taxes was $1,897,000 against income before income taxes of $984,000 a year ago. Net loss was $3,222,000 or $1.15 per basic and diluted share against net income of $702,000 or $0.23 per basic and diluted share a year ago. Net loss for fiscal 2012 includes a non-cash income tax expense of approximately $818,000 or $0.30 per fully diluted share, which represents the increase in the valuation allowance against the Company's deferred tax assets. The loss from operations in fiscal 2012 compared to the income from operations in fiscal 2011 primarily resulted from planned increases in sales and marketing expense and research and development expense of approximately $0.7 million and $1.2 million, respectively.

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