Thought Convergences Releases Statement about Westerdal Termination

Company says termination is unrelated to acquisition dispute.

Thought Convergence, parent company of TrafficZ, has released a statement about 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 acquisition of DomainTools and Spry.

Thought Convergence’s statement is below:

While we believe that employment matters should 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 Company 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 acquisition of Name Intelligence in 2008.

Specifically addressing Mr. Westerdal’s commentary on our financial condition, Thought Convergence is a healthy, profitable and vibrant company, and despite these challenging economic times, we continue to grow and innovate in all of our business lines, including TrafficZ, DomainTools, Spry Hosting and Aftermarket.com. Thought Convergence has and will continue to faithfully perform its obligations under the terms of the acquisition agreement. A majority of the payment due has already been made to Name Intelligence, with the remainder being held in an escrow account at the Company’s outside counsel, pending resolution of the Company’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.