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Palamida Names Andre M. Boisvert Chairman of the Board of Directors

September 30, 2008

Palamida, the leader in application security for open source, announced today that Andre M. Boisvert has been appointed Chairman of the Board of Directors. In addition to his role as Chairman, Boisvert, who has served as a Palamida board member for three years, will take an active role in business development for Palamida.

“This is a major step forward for Palamida,” said Mark Tolliver, Palamida CEO. “Our business continues to accelerate as governments and industries around the world increase their usage of open source based solutions. This has expanded our partnership opportunities, and we are indeed fortunate to have one of the Industry’s most recognized and successful open source entrepreneurs add his expertise to our management team.”

Boisvert began his technology career in 1976 when he joined IBM. During his 13 years at IBM, Boisvert held senior management positions in sales, marketing and R&D. After IBM, Boisvert held executive positions in some of the most respected software companies in the industry, such as Cognos, Oracle Corporation, where he was senior vice president of worldwide marketing and a member of Oracle’s management committee, and SAS Institute Inc., the largest privately held software company in the world, where he served as president and chief operating officer.

In 2002, Boisvert joined the board of directors of VA Software (NASDAQ:LNUX), the creator of SourceForge.net, the largest open source development site on the Internet, which enjoys more than 30 million unique visitors each month and hosts more than 160,000 registered open source projects. This led Boisvert to co-founding the industry’s first open source end-to-end business intelligence company, Pentaho Corporation. Today Boisvert is chairman of three other open source companies, each one a leader in its respective field: Compiere for enterprise resource planning; Infobright for data warehouse; and Zenoss for systems management.

“For years I have believed that the open source business model will significantly change the way that software is developed, distributed and supported. As open source becomes more pervasive, it is personally gratifying to witness customers benefiting from the disruptive nature of this model, in terms of higher code quality, tighter innovation cycles, exponentially better price-performance and no vendor lock in,” stated Boisvert. “As organizations around the globe continue to ratchet up their use of open source, whether that be in the form of integrating various open source components into a solution or whether they leverage an already built open source application, these customers have a requirement to ensure application security by managing and protecting these open source assets. As such, I am delighted to be associated with Palamida, who is the leader in the area of providing software and services around this key requirement.”

About Palamida, Inc.

Palamida delivers the industry’s first application security solution exclusively for open source software that uses component-level analysis to quickly identify and track undocumented code and associated security vulnerabilities, as well as intellectual property and compliance issues. Palamida solutions enable development organizations to cost-effectively manage and secure their mission critical applications and products.

Customers include Avaya, Cisco Systems, EMC, Microsoft, and Sun Microsystems, among others. For more information visit: www.palamida.com.




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