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Doug Ring Appointed Chairman of Socialtext

25-Year Industry Veteran Brings Deep Software Knowledge, Strong Social Technology and Product Visioning and Broad Industry Relationships to Board and Business

October 9, 2012, Palo Alto, California

Socialtext, a leading provider of enterprise social software, today announced the appointment of Doug Ring as Chairman of the Board of Directors. Mr. Ring, previously an executive at Bedford Funding, the $1.4 billion investment fund which made a strategic investment in Socialtext last May and which also owns Peoplefluent, an industry leading Talent Management provider, takes on his role as Chairman immediately.

“The enterprise social landscape is no longer a means to distract, but rather an opportunity to impact organizations by enhancing productivity, accelerating collaborative workflow and inspiring innovation. Enterprise Social Networking has emerged as a top priority for organizations as they identify new ways to harness intellectual resources, increase profitability and propel success within their businesses around the world,” said Mr. Ring. “I spent a year examining closely a range of technology offerings in the social collaboration marketplace as we looked for strategic, long-term investments in this fast-growing space. Socialtext’s enterprise social collaboration software is extremely well-engineered and easily integrated, intuitive and flexible, widely adopted and highly praised. I was impressed with this business six months ago, but am even more enthusiastic about its trajectory today. I am delighted to be on the team that will bring this business to market leadership.”

In his role as Chairman of Socialtext, Mr. Ring will continue to build the technology vision for the business and across the associated portfolio companies within Bedford Funding. He will bring his deep market knowledge, corporate strategy strength and product development experience to the management and operations agenda of Socialtext. In that capacity, he will assist current management in operating and managing against key business priorities. With longstanding industry relationships, Mr. Ring will also support Socialtext with enabling strategic alliances, partnerships and significant business development opportunities.

Mr. Ring previously led Research & Development at Peoplefluent. In this role, he identified and executed on strategic partnerships and acquisitions, and reviewed strategic technologies and product plans. Through his broad exposure within the software industry and key relationships with industry influencers, Mr. Ring brings extensive technology acumen and strategic vision to Socialtext’s innovation agenda.

Prior to joining Bedford Funding, Mr. Ring was Chief Technology Officer of Geac, where he was responsible for all aspects of the software creation process including strategy, innovation, engineering and deployment. He was also actively involved in the communication of technology strategy to the press, industry analysts, senior management, partners and customers. Mr. Ring served as Director of Emerging Technologies at Dun & Bradstreet Software prior to its acquisition by Geac.

Mr. Ring spent several years in Human Resources consulting at a number of leading companies including Holiday Inn Worldwide, Los Angeles Times and Mattel Toys. He started his career at Canada Mortgage and Housing. Educated in Canada, Mr. Ring has a diploma in Civil Resources Engineering from Seneca College in Toronto and in Information Technology from Algonquin College in Ottawa.

About Socialtext

Established in 2002, Socialtext, a Bedford Funding portfolio company, was the first company to deliver social software to businesses. By unlocking knowledge, expertise, ideas and data, Socialtext eliminates information silos across the enterprise to drive superior business performance. Socialtext's enterprise social networking products — including microblogging, blogs, wikis, profiles and social spreadsheets — provide simpler ways for employees to share vital information and work together in real-time. Delivered in a variety of hosted cloud services, as well as on-site appliances, enterprise customers are provided with flexible deployment options that meet their security requirements. Built on a flexible, web-oriented architecture, Socialtext integrates with virtually any traditional system of record, such as CRM and ERP, enabling companies to discuss, collaborate, and take action on key business processes. More than 6,500 businesses worldwide have accelerated their business performance with Socialtext, including Getty Images, Symantec, Meredith Corporation, NYU Stern, OSIsoft, and Epitaph Records. To learn more, visit http://www.socialtext.com.

Designated trademarks and brands mentioned in this press release are the property of their respective owners.

Media Contacts

Gutenberg Communications

John Kreuzer
(408) 827-4360
jkreuzer@gutenbergpr.com

Andria Barrera
(408) 827-4359
andria@gutenbergpr.com

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