Bridge Growth-backed Solace Appoints Craig Betts as Chairman of Board and Leslie Rechan as CEO

9/10/17

Solace, the leading provider of open data movement technology, announced today that its Board of Directors has appointed Craig Betts, the Company’s founder, as Executive Chairman of the Board. Leslie (Les) Rechan, former President and CEO at Halogen Software, will join the leadership team as President and Chief Executive Officer. Mr. Rechan has also been appointed a Board Director. In his new role, Mr. Betts will devote his full time to customers and partners, while driving the overall vision and strategy for the company. Mr. Rechan will work closely with Mr. Betts to lead strategy execution and business operations.

“I am proud to welcome Les to Solace as CEO,” said Craig Betts. “I have known and admired Les since he and his family moved to Ottawa over a decade ago. With over 30 years of industry experience, his operational expertise is unparalleled, making him the ideal person to step into the CEO role as we continue to grow in our increasingly cloud-focused business. We are grateful for the opportunity to hire an executive of Les’ caliber – this is truly a significant milestone for our company.”

“Les is a well-known, respected executive in the software and technology industry, who I’ve had the privilege of working with over many years,” said Tom Manley, Senior Principal and Chief Administrative Officer of Bridge Growth Partners and Lead Director of the Board at Solace. “He has racked up an impressive string of achievements in senior executive roles at a number of industry-leading companies including Halogen, IBM, Cognos, Cadence and Siebel. On behalf of Bridge Growth Partners, I’m pleased to welcome Les to Solace, and look forward to seeing the company continue to grow under his leadership.”

“I’m thrilled to be joining the innovative and talented team at Solace,” said Les Rechan. “I have long-standing relationships with both Craig and Tom, and have seen Solace grow to the company it is today, with the most flexible, powerful data movement platform in the world. In this dynamic industry, the potential for further growth is enormous and I am excited to work with Craig, Tom and the rest of the team to deliver exceptional value to customers, partners and investors.”

About Les Rechan

Mr. Rechan is a proven leader with over 30 years of global, multi-functional experience in analytics, mobile, social, cloud and business oriented IT solutions. Mr. Rechan currently serves as a director at PROS Holdings, Inc.

Mr. Rechan previously served as President and CEO at Halogen Software from July 2015 through its acquisition by Saba Software in May 2017. He held various positions at IBM, most recently as General Manager of Business Analytics for IBM Software Group. He has also held numerous executive leadership positions including: COO at Cognos and Onyx Software; and SVP at Oracle, Cadence and Siebel.

He holds a Bachelor of Arts and Bachelor of Science degree from Brown University and a Masters of Management and Finance from Northwestern University’s Kellogg School of Management.

About Bridge Growth Partners

Bridge Growth Partners, LLC is a uniquely structured growth-oriented private equity firm that focuses on investments in the technology and technology-enabled financial services sectors. Bridge Growth Partners was founded with the goal of bringing together significant investment, financial, operating, and strategic business building expertise and talent.

For more information about Bridge Growth Partners, please visit www.bridgegrowthpartners.com.

About Solace

Solace provides technology that improves the speed and efficiency with which information flows between applications, connected devices, datacenters and people. High-speed, reliable information sharing is a critical part of modern IT initiatives from accelerating legacy business processes to enabling big data, cloud computing and the Internet of Things. Solace unifies many kinds of data movement so companies can cost-effectively move all of the information associated with better serving customers and making smarter decisions. To learn more, please visit www.solace.com.

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