Content area
Full text
When Bryan Anderson sold part of Autobase Inc. in 2004 to a venture capital firm, the owner of the marketing-software maker felt as though he had sent his unruly youngster off to boarding school to become more responsible.
Three years later, after convincing results and a subsequent sale to Virginia-based Dominion Enterprises, Robinson's offspring has turned into a much more mature and disciplined child.
The financial backing of Boston-based VC firm Summit Partners and the guidance of veteran technology executive W. Scott Webber-best known locally as the former CEO of Software Artistry Inc. - enabled Autobase to more than double its annual revenue to $20 million during the three-year span.
About 1,600 U.S. automobile dealerships have installed Autobase's system, which helps manage sales leads, customer contacts and records. The north-side company twice made the Inc. 500 and Deloitte & Touche's Technology Fast 500 lists.
The growth positioned Summit to earn a sizable return on its investment and shop Autobase to potential suitors. Dominion, a unit of Landmark Communications Inc., which owns television stations and newspapers, purchased the company for an undisclosed amount June 12.
Now that Autobase is on more stable footing, Anderson, who founded it in 1988, has retaken the helm from Webber and again is in charge of daily operations.
"People were beating our door down," Anderson said of the interest in Autobase. "Dominion was one of the companies that tried to acquire us in 2004. They just kept at it and were persistent."
Anderson at the time chose to sell a portion of Autobase to Summit because the...