The mystery is over. When Mark Forman unexpectedly quit in August as the federal government's top IT executive, he wouldn't say where he was going, except that it was a Silicon Valley startup. On Tuesday, Forman revealed that the startup is a Menlo Park, Calif., enterprise software company called Cassatt Corp., founded by former BEA Systems Inc. chairman and CEO Bill Coleman.
Forman, the first E-administrator in the White House Office of Management and Budget, will be executive VP for worldwide services. A main reason Forman cited for leaving government service was the needed for a bigger paycheck. Cassatt did not reveal Forman's salary; he earned $142,500 a year as a federal employee, a salary much lower what he can earn in the private sector.
Cassatt will offer products and services surrounding autonomic computing, which lets enterprise systems configure themselves to changing conditions and are self-healing in the event of a failure. Autonomic computing requires less human intervention for routine operations.
CEO Coleman said in a statement that American businesses are entering a disruptive new phase of service-oriented, commodity-based enterprise computing. "We will provide the systems and services that are critical to their business success as this wave sweeps aside traditional computing environments," he said.
Forman, who has held executive jobs at IBM and Unisys, was hired because he has "tons of experience working for large enterprise organizations," a Cassatt spokesman says. Forman's team will primarily be responsible for helping customers implement the Cassatt product.
Cassatt also hired Forman because of his familiarity with government IT; the government market is hugely important to Cassatt, the spokesman says. "Mark understands that environment better than anyone else in the country," he says. "He knows the problems they need to solve; he knows the politics, the IT budget. He's responsible for the architecture behind much of the improved practices in the federal government around IT."
The company is being funded by private equity firm Warburg Pincus. Terms of the investment were not disclosed.