Struggling with Decisions

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In 1997, they were poised for their initial public offering (IPO). Multiple renowned financial firms laid out their proposals for facilitating the company's listing on the stock exchange. These proposals encompassed the timing, associated costs, and estimated success rates. 

From the pool of options, they opted to collaborate with two entities, namely Montogomery Securities and Robertson Stevens.

Armed with a comprehensive presentation delineating Melita's promising future, a team of Melita representatives embarked on a series of what are colloquially known as "Road Shows." 

These events unfolded in major U.S. cities and several key European locations, strategically aimed at enticing prospective investors to pre-order shares of Melita. The response was overwhelmingly positive, with a deluge of offers flooding in to secure a stake in the burgeoning company.

Alek and his wife ultimately decided to divest approximately three million shares, an equivalent of approximately 25% of the company's total valuation at the time. This move marked a significant milestone in their journey, steering Melita toward the next phase of its remarkable evolution.

Life at Melita underwent a rapid transformation. 

The focus now rested squarely on the sales of the "Enhanced PhoneFrame Explorer® " and its associated services. 

Each passing quarter brought forth heightened expectations in terms of financial performance, demanding a proportional increase in percentages. 

Timely payments from all customers became imperative, with a strict payment window of no more than 60 days, and preferably within 30 days, to drive Melita's stock value upwards.

The company attracted the attention of financial analysts who regularly reached out with inquiries about order volumes, new equipment developments, and the growth in cash reserves. 

Once every quarter, a teleconference convened, featuring Alek, the CEO, along with the president and CFO. During these sessions, they faced a barrage of questions, necessitating meticulous preparation beforehand. 

Prior to each teleconference, they meticulously deliberated potential responses to a range of queries.

Their approach was one of transparent yet cautious communication, offering forthright answers to probing questions. 

Analysts, always on the lookout for clues that could illuminate Melita's future trajectory and, consequently, the trajectory of its stock price, persisted in seeking additional insights during these interactions.

In 1998, Alek crossed paths with Andrew ("Philip") Filipowski during negotiations involving Platinum Technologies, Inc. 

It was a pivotal moment as they were in the process of procuring software for engineers to facilitate software development, testing, and documentation—a substantial investment amounting to $1.5 million.

During these dealings, Filipowski, often referred to as "Flip," extended an offer to Alek to join the board of his newly established company, Divine Intervention. Alek, recognizing the promise and potential of this venture, accepted the proposition. 

After a series of meetings and a comprehensive evaluation of Divine Intervention's strategic vision and its dedicated team, Alek was thoroughly impressed.

Subsequently, after thorough discussions with Halina and their board of directors, Alek extended an invitation to Filipowski to join their own board. Filipowski swiftly accepted this invitation, forging a closer working relationship between them. 

Alek became an integral part of Filipowski's council, reciprocated by Filipowski's involvement in their endeavors.

 In June 1999, they made a strategic move to cater to smaller call centers operated by companies with limited resources. 

To achieve this, they acquired a company named "Small Wonders." 

The systems offered by Small Wonders were simpler, with quicker manufacturing and installation processes. Additionally, these systems were user-friendly, enabling customers to manage various functions independently. 

For many years, there was a vision of expanding communication channels between call centers and their customers, beyond traditional phone calls. 

The decision was made to acquire an Internet company, eShare Technologies, located in New York. This company specializes in developing an automated intelligent email system capable of independently responding to emails, eliminating the need for human intervention. 

This strategic move enabled communication with customers through various electronic channels such as SMS, email, and phone calls.

However, a few months after the acquisition of eShare, challenges arose. 

Their directors attempted to exert influence over the direction of development and insisted on renaming the company to eShare (which was eventually accepted). 

Additionally, substantial financial demands were made for advertising purposes, and some individuals within the company even threatened to depart.

The company was gradually losing its familial character. 

As a result, a decision was made to search for a business partner who shared a similar vision and had a track record that aligned with their objectives. 

To facilitate this, Montgomery Securities (who had initially discovered eShare through its multi-channel communications strategy) was re-engaged. 

After evaluating several potential candidates, the choice was made to merge with Andrew Filipowski's subsequent venture, Divine, Inc. (Divine). 

This decision was driven by the fact that Divine held similar plans and possessed substantial capital, with over $400 million in cash reserves. 

In November 2001, a contract was executed with Divine, marking a seemingly enticing and promising future for Alek and Halina. 

As part of this agreement, both Alek and Halina exchanged their stock in Melita for shares in Divine, Inc., amassing more than 35 million shares in total. 

The contract explicitly outlined Alek's role within Divine: he was designated as the Chief Strategy Officer and entrusted with the presidency of the company's largest division, "Customer Interaction Management." 

This division was responsible for overseeing the sales of systems, software, and services geared towards maintaining customer relations and was documented to generate an annual turnover of approximately $600 million. 

Under the leadership of Filipowski, who held the positions of chairman and CEO, along with his group of loyal colleagues (individuals previously associated with him during his tenure at Platinum Technologies, Inc., and who had received substantial sums ranging from $25 million to $100 million for their Platinum shares when Flip orchestrated its sale to Computer Associates for a staggering $3.5 billion), 

Divine was now under new management. 

Flip initiated a series of acquisitions, utilizing both stock and cash for these transactions. 

Notably, during this period, all funds from Melita's bank account, totaling approximately $20 million, were transferred to Divine's bank.

Alek, initially appointed as Divine's Chief Strategy Officer, was slated to officially assume the role of Managing Director after several months on the job. 

Their contractual agreement encompassed various elements, including a specified salary, additional stock options, and personal assurances concerning Alek's future within the company.

Following the transfer of their $20 million, interactions with Filipowski, the CFO, COO, and other key individuals virtually ceased. 

In fact, the extensive list of over 5,000 employee contacts no longer bore Alek's name and information; he had effectively been removed. 

This development reportedly stemmed from Alek's lack of support for the company's strategy to acquire businesses burdened with losses and substantial debts, which Flip and the board were eager to merge. 

In an attempt to address his concerns, Alek reached out to Flip through written correspondence, flew to Chicago to issue a warning in person, and made multiple attempts to contact the CFO and the Chairman of Divine's Board of Directors. 

Regrettably, none of these efforts yielded a response.

Undeterred, Alek meticulously examined the available data and compiled a comprehensive financial report for Divine's management. 

This report projected that Divine, Inc. would face bankruptcy by January 2003. 

On February 11, 2003, Alek sat in his office at the Norcross Headquarters when his assistant Anna handed him an envelope. 

It bore the signature of Andrew Filipowski, the CEO of Divine, Inc., the company they had opted to merge with in October of 2001, boasting over $400 million in cash reserves. 

As he opened the letter, the words struck him like a bolt from the blue: 

"Your employment has been terminated effective immediately. 

Divine has filed for bankruptcy, and your position has been eliminated..." 

In an instant, shock and disbelief washed over him. 

Unfortunately, his dire predictions fell on deaf ears, and by February 2003, Divine did indeed declare bankruptcy, a mere 15 months after merging with the eShare/Melita company. 

The outcome of this bankruptcy had a significant impact: Alek and his wife suffered a loss in the value of their shares.

Consequently, the previously merged eShare/Melita entity was split into two distinct companies: 

Melita and eShare. 

Subsequently, Melita was sold to the investment firm Golden Gate Investors in May 2003 and later merged with Aspect Software. 

In contrast, eShare found a new home with an Indian company. 

This unexpected turn of events forced Alek into an early retirement, despite being just 52 years old at the time.