Versata Vs Think3 Administrator

This is a email communication that will be going out to all Think3 customers and partners today. The emails starts with:

“Dear think3 Customers and Partners,
My name is Austin Scee, and I have recently been appointed as the General Manager of the think3 Products Division of Versata. I’m writing both to introduce myself and provide some clarity on the recent confusing series of events, including the bankruptcy proceeding with the Italian branch of think3.”

The letter goes on to repeat the content of previous letters such as the things that have been done to think3 products, the revamping of the support system, etc. and then goes on to explain the legal mess that Versata finds itself in.

“There has also, unfortunately, been a great deal of confusion surrounding Versata’s acquisition of the think3 intellectual property assets and the recent bankruptcy proceedings of the think3 Italian Branch and subsidiary distribution entity. The truth is relatively straightforward. Versata purchased the software intellectual property assets from think3 Inc., the US-based parent company. Roughly two weeks ago, the Italian branch and subsidiary were placed into bankruptcy by a court in Bologna, Italy. Since being placed in bankruptcy, a local administrator was appointed to run the local Italian Branch and subsidiary distribution entity.

This administrator has since taken a number of steps that we believe to be damaging to think3 customers and which are not consistent with applicable law. He has seized the think3 website (our new website is available at think3.versata.com) and posted threatening messages. Contrary to what is claimed in these threatening messages, a local Italian administrator does not have the legal authority to “terminate” Versata’s ownership of the think3 products. Versata spent millions of Euros – well above market value according to independent auditors – to legally purchase these assets.

The priority of the administrator clearly is focused on protecting creditors, even at the expense of customers. Conversely, our focus is squarely on customer success – and Versata has the resources, assets, and capabilities to advance the product and support the customer base at levels that think3 could not before and certainly cannot today. We have also begun investing in CAD expertise, including an effort to hire noted industry leaders to join our team. We believe the future for think3 products is extremely bright. We ask you to give us a year to prove it to you.

We expect that the administrator in Italy may persist in issuing confusing or threatening communication. We will work to proactively address every misleading or inaccurate statement. And we promise to be completely authentic – you will hear the complete, unfiltered truth from us – none of the “legal speak” you get from the administrator. We also commit that we will be using every legal means at our disposal to aggressively protect your investment in the think3 technology.

Further – and most importantly – we commit to you that we will put your interests ahead of everything else. Every decision we make will be guided by our prevailing philosophy of 100% customer success. And you should feel free to email me directly if there is anything that we can do to increase your success with the think3 products or if you have any questions or concerns. Please email me directly at austin (dot) scee (at) versata (dot) com.”

 

  • Nainar

    Unfiltered truths? We are all ears to hear it. Think3 Inc, the US based parent company had zero employees in the US except the Board members. The entire product was developed by Italian/French/Indian arms. The court of Bologna is not naive to reverse a sale happened.They would have considered all this before making a choice. Now the playground is International law! How can an Italian court judgement can be upheld in the US Courts?If there is an judgement, it has to be enforced by the US Courts and it is a simple process.Let us see how it plays it further. And Versata, having changed the management in one day, intends to change everything?

  • Zion

    Versata, as a customer, I dont care for what your silly PR guys write. Show me the stuff – a good product, good customer care and a responsive and responsible management. I will then consider renewing my licenses. From what I have seen so far, your words and actions dont match. And you sure seem to have many skeletons in your closet. Come clean and then I will decide whether to do business with you or not!

  • Boom

    Maaaannnn ……looks like Scott has been fired from think3 responsibilities for doing a bad job in favor of Versata…..Now that bing verstata culture…looks like the second heir Mr. austin (dot) scee (at) versata (dot) com will also have a similar fate…and thn we will get another communication frm Versata PR :

    I am Mr. Bla (dot)Bla(at) Verstat(dot) com. and I am on my voyage from the Cayman island and will address the meeting in 2015. (I am rowing from there, Verstat is not paying my TA,but the offer is good). And I will hold the position of Deputy to Deputy general manager and will handle think3 accounts.

    Mr. Austin. History repeats….and there is one historian….who is watching you and will make your story his story.

    • Rock

      Ha…ha…ha…very true….History repeats..

      First it was Randy Jacops as the think3 new face…followed by Scott B the next week and now its Mr. austin (dot) scee (at) versata (dot) com…

      In close to 5 months they had 3 people saying that they are the top bosses and would handle think3 account and take it to a logical end…Today we feel that many more studs n dudes will be coming forth to prove their worth for Versata…

      I am sure all this guys are the once that have lost job in the domestic market and working from O desk…

      So Mr. austin (dot) scee (at) versata (dot) com do you also get 35$ per hour? with 40 hrs working. (Is your flying time counted in your 40 hour weekly billing).

  • JhonJhon

    “We have also begun investing in CAD expertise, including an effort to hire noted industry leaders to join our team”

    Really impossible. In think3 there was a lot of the best skilled CAD engineer and mathematicians who was fired by versata (Aix-Provence, India,Italy … no one in the US). I’m sure that in the world they cad find also a better skilled people. But usually this kind of people are very very clever in taking decision. I’m sure that before to join some company they will spend some time …..
    For what I know, in CAD enviroment to change something take months not year if the management have really clear what to do. Seven months from the acquisition, with a good investement would bring better results

  • Sid

    “This administrator has since taken a number of steps that we believe to be damaging to think3 customers” – I believe the customers might actually benefit from this. Especially if the trustee is able to find a more suitable buyer for the IP.

    • It is quite possible that the former owners of Think3 ran from pillar to post to sell the company/IP to able CAD players before it ended up with Versata. If they didn’t want it then, then why would they want it now? A lower asking price? Let’s see.

      • Sid

        The former owners had become quite desperate due to the pressures. In fact there were some other options towards the end that needed time, and the situation was such that they couldnt wait. The trustee on the other hand probably will not have that issue.

        Also, I doubt if the previous owner were willing to just sell IP. If they did, they would lose all they had and still be responsible for the rest of the debt. The trustee will collect what he can and pay the creditors to that extent only considering that the company is already declared bankrupt. So, the new owners get the IP without any baggage.

        Another aspect is that any new serious buyers would want some key people, who know the technology. If the buyer is serious, may be it wont be so hard to get atleast some of the old people on board.

        Anyway it is still early days. The various players will make new moves and counter moves in the coming weeks.

  • JhonJhon
    • Sid

      Fantastic!

  • Rudy

    Think3 restarts operation…….

    Upon authorisation of the Appointed Judge of the Court of Bologna dated 4 May 2011, Think3 Inc. restarts its operations pursuant to Section 104 of the Italian Bankruptcy Law. Think3 Inc. will be managed by the trustee, Dr. A. Ferri, and the Creditors’ Committee, under the supervision of the Appointed Judge.
    As a consequence, Think 3:
    – provides customer care services, with its long trained personnel and through its official website THINKCARE;
    – manages the licenses and the activation codes;
    – sells its products directly through the authorized dealers.
    For any further information, please call Think3 at +39 051 597111 or moc.3kniht@eetsurt.ofni.
    The Trustee, Dr. A. Ferri

  • JhonJhon

    what’s happened in the past
    http://en.wikipedia.org/wiki/Artemis_(software)

    Please see: Artemis’s Redundancy Policy backfires

  • Rahul

    I somhow get a feeling tat death is confirmed…So I ordered flowers….

  • Pingback: Think3 Restarts Operations | Deelip.com()

  • Ah ah ah

    The most risible statement in http://think3.versata.com/important-think3-customer-update/ is
    “In the months since Versata acquired the software assets of think3, we have shipped four product releases (more than think3 had shipped in the prior two years)”
    What?!?!? When????? with what contents?????
    These guys are really redefining the term CROOKS.

    • Jack

      Probably every week check-in is a new build as per them…wat do they know abt devlopmnt and strong codes….did any one check their efforts….the part that they have delivered was already built months back by T3 devloprs…they just did a packaging work….I had used those commands as a beta user..:-)

  • 123

    Just have a look at the release notes, in TD2011.3 it is still named Release Notes 2010… Everyone knows that 2010 was nearly finished, versata just named it 2011.

    Even though – 2011.3 seems to be stable and useable.

    • I don’t have the software, so I cannot confirm this. But if this is true then this is self-defeating. Think3 customers are not stupid and will see through all of this.

      • 123

        Sure, they will. But i have to say it might be difficult too just overtake a software and develope a code, someone other has developed so far.

    • Rahul

      Yes, its true…. They forgot to package it well……they had other things to worry about…..even the folder sturcture inside states 2010…

  • Castro

    Poveri quelli che hanno gia’ pagato Versata