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OptionEase, Inc. and Westlake Securities Announce Strategic Business Alliance
San Juan Capistrano, CA, October 2, 2007 - Orange County, CA based OptionEase, Inc., and Westlake Securities, Austin, TX, have announced today a strategic business alliance focused on providing access to on-line tools and quality professional services to their respective FAS123(R) [now ASC Topic 718] and IRC 409A clients.
TThe alliance between OptionEase and Westlake Securities was a decision to provide professional services along with web-based tools to companies that need to maintain their equity compensation plans. OptionEase offers its Web 2.0 application for FAS123(R) [now ASC Topic 718] compliance and reporting, while Westlake Securities provides business appraisals to support new 409A requirements. OptionEase and Westlake Securities form a tight synergistic bond in that each of their clients ultimately needs the other. The alliance between OptionEase and Westlake Securities is guaranteed to produce results as both firms are committed to quality professional services.
OptionEase customers have already completed their 2006 and up through Q3 2007 audits seamlessly using their application. Westlake Securities references many longstanding client engagements and are a dominant player in the southern US for business valuation services. Both companies are well versed and highly regarded as stand outs in the industry. OptionEase offers innovative software-as-a service (SaaS) equity compensation compliance tools that have quickly risen to the top of its marketplace in the Governance, Risk and Compliance marketplace for midsized companies.
Kimberly Kovacs, Chief Executive Officer for OptionEase commented on the new alliance by saying, "We believe Westlake Securities to be a very good fit considering our common lines of financial expertise, on the Westlake Security end we realize the importance that clients must comply with 409A regulations and we see the ultimate need for each client to adhere to FAS 123(R) [now ASC Topic 718]. The partnership is ingenious and will bolster growth for both parties”.
Alex Klingelberger, VP and CFO of Westlake Securities says, “We are always pursuing ways to bring the best alternatives to our customers, to expedite our services and to deliver a quality product. OptionEase will help to alleviate the equity compensation compliance challenges that currently exist in our marketplace”.
About OptionEase, Inc.
OptionEase (www.optionease.com) is leading the evolution of SaaS-delivered regulatory applications in the highly complex governance, risk and compliance (GRC) marketplace. The company’s first product was designed specifically for audit compliance under FAS 123(R) (ASC Topic 718) and now encompasses a full suite of end-to-end equity management tools. This SAS 70 Level II certified solution “standardizes compliance” and enables secure collaboration across multiple constituents, allowing clients to focus on strategic business functions. More than 400 private VC-funded and large multi-national public corporations rely on OptionEase's solutions and service to comply with financial and regulatory reporting requirements under FAS, SEC and IASB. OptionEase is located in San Juan Capistrano, Calif. and funded by venture capital and private equity.
About Westlake Securities
Westlake Securities was founded in 2003 to serve the corporate finance needs of emerging growth and middle market companies in Texas. Our firm believes that Texas companies are remarkably underserved by the investment banking industry relative to the amount of capital deployed and successful companies created in this region. The principals of Westlake come from diverse backgrounds - including investment banking, venture capital, operations and securities law - to provide clients with many perspectives on their corporate finance opportunities and challenges. Westlake Securities can be found on the web at www.westlakesecurities.com. |