Thought Convergences Releases Statement regarding Westerdal Termination
Firm states termination is unrelated to buyout dispute.
Thought Convergence, parent firm of TrafficZ, has released a statement regarding the termination of Jay Westerdal. The statement claims that Westerdal’s termination is not related to a dispute between Thought Convergence and Westerdal over the buyout of DomainTools and Spry.
Thought Convergence’s statement is below:
While we believe that employment matters ought to be dealt with internally rather than in a public discourse, we feel compelled to address the misstatements by Jay Westerdal that were quoted today on various public forums. Thought Convergence confirms that Jay Westerdal is no longer an employee or an officer of Thought Convergence, Inc. or any of its subsidiaries. The Firm will not comment on the reasons for Mr. Westerdal’s termination, other than to state that Mr. Westerdal’s dismissal is not related to a dispute with respect to Thought Convergence’s buyout of Name Intelligence in 2008.
Specifically addressing Mr. Westerdal’s commentary on our financial condition, Thought Convergence is a healthy, profitable and vibrant firm, and despite these challenging economic times, we continue to grow and innovate in all of our business lines, counting TrafficZ, DomainTools, Spry Hosting and Aftermarket.com. Thought Convergence has and will continue to faithfully perform its obligations under the terms of the buyout agreement. A majority of the payment due has by now been made to Name Intelligence, with the remainder being held in an escrow account at the Firm’s outside counsel, pending resolution of the Firm’s various claims against Name Intelligence and Mr. Westerdal.
Finally, Thought Convergence has not waivered from our vision of developing the industry’s first symbiotic Domain Ecosystem. We consider DomainTools and Spry Hosting to be integral parts of our ongoing strategy, and, as such, we will continue to invest heavily in the further development and innovation of these unique assets.
