SAN FRANCISCO Dec 3 LogLogic, a supplier of
software used to audit computer data trails, on Monday named
veteran software executive Patricia Sueltz as its new chief
executive, effective Dec. 1.
Sueltz recently ended a two-year stint leading the
turnaround of Surfcontrol Plc in October, when it was sold to
rival Websense Inc WBSN.O for $401 million.
Previously she had held executive positions at
Salesforce.com Inc (CRM.N), Sun Microsystems Inc JAVAD.O and
International Business Machines Corp (IBM.N).
Dominique Levin, who has served as acting CEO for the past
five months, will continue as executive vice president of
marketing for products & business development, reporting to
LogLogic has created a fast-growing business by automating
the management of event data generated across an organization's
computers. "We are still doubling year on year," Levin said in
a phone interview.
"We want to be a big player," Levin said. "We have a lot of
reason to believe that our market will be very large."
LogLogic counts 350 of the Global 2000 companies as
customers. The company has a little over 100 employees.
The hiring of Sueltz sets the stage for LogLogic to prepare
for a potential initial public offering next year, but
executives said they are in no rush to repeat the decline of
rival Sourcefire Inc FIRE.O -- off nearly 50 percent since
its IPO in April.
Nonetheless, Levin said: "We are at the run rate in 2008
where (an IPO) would be realistic." The privately held company
does not disclose revenue.
The company is looking to turn its software products into a
broader management platform that could be used by companies,
government agencies and telecommunications carriers. It turned
cash flow break-even in October, it says.
The company has raised $33 million in three rounds; the
last was led by Invesco two years ago. Sequoia Capital partner
Michael Goguen is chairman of LogLogic's board of directors.
(Reporting by Eric Auchard, editing by Gerald E. McCormick)