(TNS) -- Joe Davis, chief executive of Portland-based Webtrends for the past three years, left the company this month after it sold a key piece of its technology to Oracle. Webtrends promoted chief financial officer Mike Laber to replace him.
"Having transitioned out of Webtrends after managing an asset sale to Oracle I am taking a break while exploring options for my next role," Davis wrote on his LinkedIn page. He describes himself as residing in Silicon Valley and being "On the bench."
Webtrends' website still lists Davis as the Portland company's CEO, but it confirmed his exit in response to an inquiry from The Oregonian/OregonLive.
Founded in 1993, Webtrends has been owned since 2005 by a California private equity firm called Francisco Partners. The Portland company provides online analytics technology to help companies understand customer behavior online.
A pioneer in that market, Webtrends fell a step behind as the industry consolidated behind technology developed or acquired by Google, Adobe, IBM and Oracle.
Webtrends hired Davis in 2014. He had been CEO of a rival in Silicon Valley, Coremetrics, which had sold to IBM. At that time, Webtrends employed around 400 -- about double what it had before this year's deal with Oracle.
On his LinkedIn page, Davis writes the the Portland company hired him "to fix the company's product strategy and execute an exit for the investors within three years."
And it was almost exactly three years from Davis' hiring when Webtrends sold Oracle a major piece of its technology, a product called Infinity designed for a new generation of "big data" analytics. The company said dozens of Webtrends' Portland employees would transfer to Oracle in the deal but didn't disclose terms of the transaction.
Webtrends had fewer than 200 Portland employees prior to the deal, and said slightly less than half would go to Oracle. The remaining employees are managing Webtrends' legacy products, which include testing software, search and social marketing services, and a specialized analytics tool for Microsoft's SharePoint technology.
The new CEO, Laber, joined Webtrends in 2015 after six years as corporate controller at TriQuint Semiconductor in Hillsboro. Laber left shortly after that company's sale to RF Micro Devices, a rival in North Carolina.
©2017 The Oregonian (Portland, Ore.) Distributed by Tribune Content Agency, LLC.