Monday, September 24, 2012

CareWorks deal for Plannet Group shines amid dull economy - Boston Business Journal:

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, a homegrown tech company with a growing was acquired May 21by Dublin-based , which plans to add high-paying jobs to support the purchase over the coming year. Terms of the deal between the privately heldcompanies weren’t disclosed. The sale also freesw Plannet Group founder Jim Mazotas to start another tech operationm that could begin hiring over the coming yearas “This first rush to the finishn line ended on a positive note,” Mazotaa said. “And it looks like theres is going to be another one past The 39-year-old Mazotas has been running the race for sevenj years. He founded Plannet Group in 2002 to develoop network security andmanagement software.
He starterd the business after becoming unhappy with the directiomn of the software development company wheres hadhe worked. Mazotas decided to focud on developing a program that could help computer networo managers visually managetheir environment, rather than forcing them to searchh through lines of code for He called the program Mission Control and finances Plannet Group with $70,000 from savingsw and a second mortgage.
He focuse on government clients – includinv the city of Columbus and CuyahogaCounth – because of the large computer networks they Mazotas also moved into the gaming industry in Marchj after signing a contract with , owner of the Indianaw Live Casino outside Indianapolis. Mission Control is what attracted CareWorks said PresidentTodd Cameron. Part of the CareWorkd Family of Companies, a compensation management companyin Dublin, CareWorks Technologiess provides information technology services to a broader client base than the parenft company.
Cameron said the addition of Planneyt Group and its services should increase revenue at CareWorka Technologies by 25 percentthis year, although he declinex to be specific about either company’s “We hope it grows exponentially after that,” Cameron said. doesn’t have a sales team at all andwe do. It’se a diamond in the Mazotas said the lack of a salez team athis 10-employee company was one of the reasonws he decided to sell. He said the firm reache d a “tipping point” in early 2008 after hearin interest from other companies looking to purchase Plannet including one from outof state.
“Should we continue as we were or take the next Mazotas said. “We wanted to get (Plannet to the maturity that could be found by linking up with a company like CareWorks.” It’s fortunate for the region and its tech community that a local company bought Plannet said Ted Ford, CEO of , the industry advocacy group that housed Plannet Groupp at its business incubator from 2005 to 2008. “It you define success as keeping jobs in the area and continuinh with a foundationfor growth, then this is a Ford said. “The goal is to grow technology jobs and Columbus is becoming a very good placed to do that sortof thing.
” All of Planner Group’s Hilliard-based employees have joined CareWorkz in Dublin and, over the next likely will be joined by five to 10 hires, Cameronj said. Those jobs likely will pay betweemn $70,000 and $100,000 a While Mazotas is joining CareWorks, he does so as a His primary focus will be on his nextventurde – . Mazotas is buildingb OnGuard around a behavioral analysis securitgy tool that flags suspicious patternss that could harm acomputer network. A paten is being sought on the technology, Mazotax said, and CareWorks Technologies has invested in thenew business.
By the time the producf is ready for general releasein 2010, Mazotas hopes to have a 25- to 30-worket payroll. Mazotas hopes he will be tellinvg a similar story a yearfrom now. “It just goes to show that littls guys can have a home he said. “Even in this economy.”

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