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Peter Gyenes Appointed to Invention Machine's Board of Directors

Posted on: Wednesday, 6 September 2006, 09:00 CDT

Invention Machine Corporation, the leading provider of enterprise software and services that promote knowledge-enabled engineering and systematize product idea generation to accelerate and bring greater efficiency and predictability to product innovation, today announced the appointment of Peter Gyenes to its board of directors, effective immediately.

Gyenes brings extensive experience in sales, marketing, and operations across the technology, software and computer system industries. He served, most recently, as the Chairman and CEO of Ascential Software Corporation ((NASDAQ: ASCL), recently acquired by IBM. At Ascential, Gyenes directed the development and growth of the company from a niche database software business in 1996 to the market leader in data integration software culminating in its acquisition by IBM. Prior to Ascential, Gyenes served in executive global sales, marketing, and general management positions at Prime Computer, Encore Computer and Data General.

"I am delighted to join Invention Machine's Board of Directors," said Gyenes "Invention Machine has demonstrated success enabling their customers to drive innovation and knowledge creation to deliver breakthrough product introductions. I look forward to contributing to the Company's board at such an important stage of global expansion."

Gyenes also serves on the boards of Applix (NASDAQ: APLX), Lawson Software (NASDAQ: LWSN), webMethods (NASDAQ: WEBM), Viryanet (NASDAQSC: VRYA), a number of privately held technology companies and is a trustee of the Massachusetts Technology Leadership Council. He is a graduate of Columbia University where he received both his B.A. in Mathematics and his M.B.A. degree.

"With his proven leadership and track record in addition to his vast experience," stated Mark Atkins, Chairman, President and CEO of Invention Machine, "I welcome Peter to our board, and look forward to his valuable contributions as we continue to execute on our global growth strategy and leverage our leadership position and core competency in software solutions for knowledge-enabled product innovation and engineering."

About Invention Machine

Invention Machine Corporation is the leading provider of enterprise software and services that promote knowledge-enabled engineering and systematize product idea generation to accelerate and bring greater efficiency and predictability to product innovation. Invention Machine's solutions empower product development engineers, scientists and researchers with technical knowledge for concept discovery and tools and methodologies for structured idea-generation and inventive problem-solving, helping manufacturers rapidly convert ideas into concepts for new and improved, better-performing, more competitively differentiated, and more cost-effective products.

For more than a decade, leading companies have used Invention Machine's solutions to raise returns on their R&D investments, improve design and production processes across the product lifecycle, and continually fuel product pipelines with innovative products. Headquartered in Boston, Massachusetts, Invention Machine has offices in the UK, France and Germany and distribution partners throughout Europe and Asia-Pacific. Invention Machine supports Global 2000 customers worldwide including such companies as Delphi, HP, NEC, Northrop Grumman, Renault, Samsung, Saipem, Shell, ST Microelectronics, and Whirlpool. For additional information, please visit www.invention-machine.com.

Source: Business Wire

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