Seasoned Industry Veteran Joins OptiMine Software as CEO to Lead Growth Strategy

Mar 15, 2011, 11:56 ET from OptiMine Software

MINNEAPOLIS, March 15, 2011 /PRNewswire/ -- OptiMine Software, an advertising optimization software provider, announced today that James H. Moar has been appointed as CEO to lead OptiMine in its next stage of growth.  Moar has held several CEO and COO positions in technology and industrial companies, both public and private.  Moar succeeds Rob Cooley, who served as Interim CEO and will continue in the role of CTO for the Company.

Toni Sikes, speaking for OptiMine's Board of Directors, said, "We are delighted to announce Jim's appointment as CEO, and are thrilled to have someone with his track record as a builder of companies.  OptiMine is well positioned to capture a significant portion of this rapidly expanding market.  Jim's leadership skills and proven success in revenue growth will play a pivotal role in leading OptiMine to achieve its strategic objectives."  Sikes is General Partner with Calumet Venture Fund, which is OptiMine's lead investor.

In his role as CEO of OptiMine, Moar will oversee all aspects of the company including strategy, operations and business development.  His responsibilities will include accelerating revenue growth, expanding product offerings and management of the Company's portfolio of intellectual property.

"I'm impressed with the OptiMine team," stated Moar.  "With our best-of-breed solution for optimizing bidding for paid search advertising, customers can achieve substantially improved returns.  Customers are delighted and OptiMine can grow rapidly."

Moar most recently served as CEO of Reshare Commerce, a start-up SaaS company. Previously, he was COO and President of Identix, a global leader in biometric systems, where he led a major turnaround doubling revenue to $90M. Identix sold to L-1 Identity Solutions in 2006 for $775 million, over 8 times forward revenue and 70 times forward EBITDA.  

Before Identix, Moar served as COO of Tennant Company, a $425 million industrial company and COO of DataCard, a $350 million technology company, both market share leaders in their industries.

About OptiMine Software

OptiMine Software is a provider of intelligent software for advertising optimization.  The flagship product, OptiMine Paid Search Bid Management, forecasts the performance of each paid search ad placement each day and automatically sets optimal bids.  OptiMine's SaaS offering is superior as it is model-based rather than rule-based, optimizes at the keyword level, and is automated.  Simply put, better bidding leads to better results. OptiMine's founders are experts in marketing applications of data mining with more than 25 years of combined experience in e-commerce analytics.  They have led or delivered data mining projects at Amazon.com, eBay, Overstock.com, Walmart, Sears, Lowe's, Wells Fargo, Discover, Scottrade, Experian, Nielsen, and others. OptiMine can be reached at www.OptiMine.com and info@OptiMine.com.  OptiMine is headquartered in St. Paul, Minnesota.

SOURCE OptiMine Software



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