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CollabNet CFO to boost overseas work

The company, which sells tools to aid cooperative programming projects, names its first chief financial officer as part of a plan to profit from overseas software development.

CollabNet, a company that sells tools to aid cooperative programming projects, has named Sridhar Murthy its first chief financial officer as part of a plan to profit from overseas software development.

Murthy was previously chief financial officer at Get2Chip, which sold software to help semiconductor designers integrate different modules onto a single chip. Murthy, who has expertise in mergers, was instrumental in the sale of Get2Chip to processor design powerhouse Cadence Design Systems.

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Brisbane, Calif.-based CollabNet got its start selling tools to foster open-source programming projects such as

Since then, CollabNet has expanded to try to capitalize on the use of overseas programmers. In May, it acquired Enlite Technology in Chennai, India, to improve its own software development and customer support.

"The global collaborative software development market opportunity is expanding rapidly," Bill Portelli, chief executive of CollabNet, said in a statement Monday. "I am confident that Sridhar will help us extend CollabNet's already established leadership in delivering collaborative software development solutions to the rapidly growing market."

U.S. technology companies have been relying on overseas programmers, particularly in India, as a way to reduce costs.

CollabNet also acquired Web design company Alphanumerica in 2000. "We have already had two mergers and acquisitions in the company's history, and Sridhar's experience will help, if other opportunities present themselves," Bernie Mills, vice president of marketing at CollabNet, said in a statement.

CollabNet's competitors include VA Software, which has similar roots in the open-source programming movement. In open-source programming, exemplified by projects such as the Linux operating system, developers cooperate by sharing software free of the proprietary constraints that are typically in effect at companies such as Microsoft or IBM.