Quantum Art Announces Restructuring

Quantum Art, Inc., the leading provider of process-driven content management solutions (pCMS), today announced its plans for corporate restructuring and has named Edward Shenderovich as its President and CEO, with Quantum Art’s founder, Eugene Nikiforov remaining as Chairman of the Board, and taking helm as the President and CEO of Ixtens, a spin out of Quantum Art’s multi-channel e-commerce division.

Northport, New York – May 17, 2004 - Quantum Art, Inc., the leading provider of process-driven content management solutions (pCMS), today announced its plans for corporate restructuring and has named Edward Shenderovich as its President and CEO, with Quantum Art’s founder, Eugene Nikiforov remaining as Chairman of the Board, and taking helm as the President and CEO of Ixtens, a spin out of Quantum Art’s multi-channel e-commerce division. 

As President and CEO, Shenderovich, who was previously Quantum Art’s EVP of Strategic Development, will continue directing the company’s product strategy in process-driven and transactive content management.  With over 10 years of experience in the enterprise software space, Shenderovich has provided strategic advice to many information-driven organizations.  His first-hand experiences will continue to reflect in Quantum Art’s product development and marketing strategies.

“Quantum Art’s software, which assists organizations in managing complex information flows and streamlining underlying business processes, is a generation ahead of traditional content management,” said Shenderovich. “The key goal for Quantum Art over the next few years will be to lead the market in the fundamental change from document-based to process-based approach in how organizational content is handled.  I am especially excited about the opportunities and our track record in the government space; currently working in 27 states and providing software for e-government services delivery to about ten percent of the country’s population is a terrific achievement.  As we grow in other markets, we will most certainly continue with our commitment to the public sector.”

As a part of the reorganization, Quantum Art is also creating a professional services company that will conduct business under the name Novodel.  Quantum Art’s co-founder and former CTO and Head of Professional Services, Lisa Oganissian will lead the upstart’s business and technical development efforts.

“Lisa and I have worked with Edward for almost five years, and have established a great relationship.” Nikiforov said. “He has demonstrated solid commitment to customer success and has shown care for the company’s management and employees.  I am confident that he will continue on this path and is the right leader for Quantum Art’s future.”

Quantum Art’s reorganization comes a few weeks before the official US release of a long-expected Q-Publishing 6.5 and the launch of Quantum Art’s Open Development Community, a social network around process-driven content management.

“Most of all, streamlining our organization will benefit Quantum Art’s customers,” Nikiforov added.  “We will be able focus on specific needs of the markets we serve and better emphasize the benefits delivered by Quantum Art’s content management and Ixtens e-commerce solutions.  The companies will continue to work in close partnership, and our joint customers will be able to take advantage of integrated technologies and services.”

Ixtens was first created as a division of Quantum Art in 2000, and has since grown to an e-commerce solutions and services powerhouse with Bertelsmann, Time-Life, and CBS Sportsline among its customers, delivering services and solutions for connecting to retail sales channels, such as Amazon.com, merchandising solutions, and advanced order management products.

About Quantum Art

Quantum Art is a leading provider of process-driven and transactive content management solutions. Founded in 1998, Quantum Art develops solutions that break the trade-off between flexible and ease-of-use in content management. With a solid focus on streamlining government services, government organizations in 27 states have turned to Quantum Art for assistance with e-government initiatives.  Quantum Art’s customers include Canon USA, Simon & Schuster, ABBYY Software House, Bernalillo County (NM), Honolulu Police Department and others. Quantum Art currently has over 450 customers across its multiple product lines and service offerings. For more information, please visit Quantum Art’s website at www.quantumart.com or call (888)899-3303.

About Ixtens

Ixtens is a leading provider of multi-channel commerce enablement solutions and services.  Founded as a division of Quantum Art in 2000, Ixtens is currently providing solutions in merchandising, order management, and sales channel integration to leading e-commerce companies.  Ixtens solutions are being used in a variety of industries and scenarios and its customers include Lufthansa, Bertelsmann, CBS Sportsline, and others.  For more information, please visit Ixtens website at www.ixtens.com or call (888)899-3303.