Flexera Software Announces Retirement of President and CEO Mark Bishof

Mr. Bishof has served as President and CEO of Flexera Software since its inception in April, 2008, when it spun out from Macrovision. Mr. Bishof has been a driving force behind the company's strategic direction and consistently strong operational performance. He has led the Flexera Software on a steady and consistent growth path, and hands over the reins as the company continues to expand its leadership position in each of the markets in which it competes. Mr. Bishof will assist in a smooth transition through the remainder of the year.

"Over the past few years, Flexera Software has created tremendous value for our customers and shareholders," said Mr. Bishof. "I am very fortunate to have had one of the best teams in the industry with which to drive Flexera Software forward. I am also thankful for continued commitment demonstrated by our Advisory Committee and the appetite of our leading investors over the last seven years, the Ontario Teachers' Pension Plan and Thoma Bravo, to make strategic investments in return for profitable long-term growth."

"Mark has done an exceptional job of growing the business, defining a strategic vision and executing to become a market leader," said John Shackleton, Chairman of Flexera Software. "Given Mark's commitment to the business, particularly over the past seven years, we respect his decision to move on from the company. The Advisory Committee is very pleased to have a successor in Jim Ryan who is prepared to continue Flexera Software's trajectory of strong and profitable growth."

Jim Ryan has held leadership positions in Flexera Software since 1998 and is intimately familiar with all aspects of the company's operations around the world. After joining InstallShield^® Software (the predecessor entity of Flexera Software) in 1998, Mr. Ryan joined Macrovision's executive team in 2004 when InstallShield was acquired. In 2008 he then helped lead the spinoff of Macrovision's Software Business Unit to private equity and helped launch Flexera Software as an independent entity. Prior to becoming Flexera Software's Chief Operating Officer, Mr. Ryan was Senior Vice President of Worldwide Sales where he led consistent and strong revenue growth. During Mr. Ryan's tenure, he has lived in the United Kingdom for seven years leading the company's EMEA operation and has had responsibility for services, technical support, operations and pre-sales teams.

"With over seventeen years' at Flexera Software, Jim's extensive experience in overseeing all aspects of the business combined with his consistent track record of driving revenue growth has positioned him as the ideal person to lead the company's next phase of growth," said Mark Bishof, CEO of Flexera Software. "The Advisory Committee and I have worked closely on succession planning, and this process will lead us through a smooth leadership transition. We are very confident Jim is the right person to continue to drive Flexera Software's growth strategy."

"I am very excited to move into this role and look forward to further enhancing Flexera Software's position as the market leader for increasing application usage and value," said Mr. Ryan. "I'm honored to have been affiliated with the employees, customers, partners and solutions of Flexera Software all these years. I've also been fortunate to have had the opportunity to partner with Mark Bishof and look forward to continuing on with the great work he has completed to date. Finally, I am appreciative of the support the Advisory Committee has shown towards me in this transition and look forward to collaborating with them in the future."