Wh e n Conor Sheahan took over as chief executive of software firm Performix Technologies on July 1 last year, he faced a daunting task.
The company’s revenue had fallen from a high of $11.7 million in 2002 to $7 million in 2004 and it needed more funds to restructure and survive.
Performix had raised more than $30 million from investors, but a fire sale - which would net only a few million dollars - could not be...
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