Deven Parekh is a managing partner at Insight Venture Partners, one of the owners of Syncort.
Deven Parekh announced that Lonne Jaffe, who ran strategy for CA Technologies, Inc. has joined Syncsort Inc. as chief executive officer of its data integration business, where he will focus on expanding the company’s big-data service through acquisition.
Jaffe will help the 45-year-old company capture a larger slice of businesses that let customers mine vast troves of information to make better decisions, Deven Parekh, a managing director of Insight Venture Partners, said recently. Before he joined CA, Jaffe was vice president of software technology while at IBM.
“Lonne Jaffe has a skill set to be a chief technology officer, but at the same time has an understanding of mergers and acquisitions and he executed on M&A strategy at both IBM and CA,” said Deven Parekh. “We have not been particularly M&A oriented and have not looked at much from the standpoint of inorganic growth and Lonne clearly brings that to the table.”
Parekh points to Jaffe’s experience at CA, which is undergoing a mix of acquisitions and divestitures to help compete with younger technology rivals. The company this month purchased Layer 7 Technologies, which helps businesses manage application-programming interfaces. In April, the Islandia, New York-based company acquired Nolio, which provides tools for software developers.
New Jersey-based Syncsort had more than $100 million in revenue last year. The company, which is owned by Insight, Bessemer Venture Partners, Goldman Sachs Group Inc., Georgian Partners and co-founder Aso Tavitian, is being split into two operating parts, with Jaffe overseeing the data integration business, which represents about 70 percent of revenue. Flavio Santoni, who previously was CEO of the entire company, will oversee the data-security unit.
Jaffe said the data-protection business will eventually become a separate company. He will also focus on expanding the company’s Hadoop service, an open-source software that helps process large sets of data.