Posted by Media Relations on Tuesday, October 18th, 2005 - Comments »
Minneapolis, MN, October 17, 2005 — http://www.magnum-tech.com – Magnum Technologies, the leading provider of IT Business Service Management and Business Impact Management software, today announced the appointment of Paul Knapp as Chairman of its Board of Directors.Knapp is President and CEO of St. Paul-based Space Center Ventures, which led Magnum Technologies’ Series B round of investment.“Because Magnum has continued to double in size every year, we have attracted the attention of potential investors and acquires, as well as other Business Service Management (BSM) companies hoping to sell to or merge with Magnum,” said Gregory Crow, CEO, Magnum Technologies. “Paul’s elevation to Chairman will enable him to shoulder more of these strategic matters while the senior management team and I continue to deliver results for our customers.”Business Service Management is emerging as an important solution for organizations that want to maximize the business value of their IT investments. Business Service Management solutions allow organizations to see how performance and availability of IT resources affect the applications, processes, and services that power their business.In addition to Knapp, the Board includes CEO and co-founder Gregory Crow, independent investor Larry Hall, Ubid Chairman and Magnum Technologies co-founder Stuart Romenesko, and Outsell CEO Mike Wethington.Magnum Technologies is backed by $5 million to date. The firm’s team of 25 employees, in five offices nationwide, serves more than 250 customers.Learn more about Magnum Technologies’ Business Service Management software solutions athttp://www.magnum-tech.comAbout Magnum TechnologiesMagnum Technologies, www.magnum-tech.com, develops software solutions that align IT operations with enterprise priorities. Magnum’s suite of automated management solutions includes DIAGNOSEIT®, COORDINATOR™, CAP-TREND® and its flagship product, ADVANTAGE®. Magnum’s software solutions are designed to easily integrate with and enhance the effectiveness of existing management platforms by monitoring and measuring IT performance from a line-of-business perspective. Magnum Technologies clients include Fort Sam Houston, BRG and Starz. To learn more about Magnum Technologies, visit www.magnum-tech.com.