Jay Westerdal and Thought Convergence Part Ways: UPDATED

Name Intelligence founder leaves firm.

Jay Westerdal, founder of Name Intelligence, has left Thought Convergence.

Thought Convergence, parent firm of TrafficZ, purchased Name Intelligence LLC last year. The buyout included the popular DomainTools.com site. Westerdal remains with Name Intelligence, Inc. a holding firm.

Reached by phone this afternoon, Westerdal stated his departure stems from a payment dispute over the buyout.

“Thought Convergence was not able to pay the full amount they had been obligated to pay on the anniversary of the first part of the purchase,” stated Westerdal. Thought Convergence bought Name Intelligence in May 2008. “They have another payment due in 2010.” Westerdal stated he is considering legal action.

Thought Convergence stated it will issue a formal statement later today. Thought Convergence issued a formal statement Wednesday evening, stating that Westerdal’s termination was unrelated to a dispute over the buyout of Name Intelligence. The firm also stated it has enough money to pay for the buyout and the balance of what it owes has been placed in escrow with its law firm.

Clarification: lots of people asked if Westerdal was fired. In both an e-mail to colleagues and in our phone conversation, he stated he was indeed terminated.