Updata Partners Adds Jon Seeber as Associate

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Former IBM Corporate Development Executive Joins Team Investing in Software and Software-enabled Services

Updata Partners, a leading information technology-focused venture capital firm with over $400 million in funds under management, announced today that Jon Seeber has joined the firm as an Associate. He comes to Updata from IBM Global Services Business Development, where he managed acquisition, divestiture, and investment activities for IBM's largest business unit. Seeber will support investment identification and due diligence efforts and work closely with Updata Partners' portfolio companies.

"Jon will evaluate investment opportunities in areas where we are seeing compelling software and software-enabled services solutions and business models such as ecommerce, software-as-a-service, human capital management, financial technology and security," said Conor Mullett, General Partner at Updata Partners. "He is a great complement to our team and his corporate development experience and technical background will serve as valuable resources to our portfolio companies."

As a Business Development Consultant at IBM, Seeber played a key role on several strategic transactions, including the acquisitions of Internet Security Systems, Healthlink, and Corio, leading efforts ranging from strategy development and due diligence to negotiation and integration planning. Prior to IBM, he served on active duty in the U.S. Air Force as an Intelligence Officer, first leading combat intelligence collection missions for Operation SOUTHERN WATCH, and later managing the development of information systems for the Air Force and the Intelligence Community.

Seeber has invented unique data transmission and security-related software applications. He holds a U.S. patent for optimizing remote method invocation in the JAVA programming language (U.S. Patent No. 6,125,400), and has a published U.S. patent application (20050229253) for a method and system for reducing false positives in network intrusion detection.

Seeber earned an M.B.A. from Harvard Business School and a B.A. in computer science and history from Duke University.

About Updata Partners
Based in Reston, Virginia and Metropark (Edison), New Jersey, Updata Partners is a leading venture capital firm that invests in early and growth stage information technology companies with innovative intellectual property enabling market-leading products and services. Led by an investment team averaging more than 20 years of operational and private equity experience in the technology industry, we seek investments where the combination of our financial backing and operating expertise will accelerate growth. With over $400 million under management, the firm also selectively provides recapitalization and management buyout financing. Updata Partners is an affiliate of Updata Advisors, Inc., a leading investment bank specializing in mergers and acquisitions for the IT industry. For more information, visit http://www.updatapartners.com.


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