UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. ) *
NetManage, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
641144308
(CUSIP Number)
Dennis R. Cassell, Esq.
Haynes and Boone, LLP
901 Main Street
,
Suite 3100
Dallas, Texas 75202
(214) 651-5319
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
March 4, 2008
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition
that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e),
240.13d-1(f) or 240.13d-1(g), check the following box.
o
Note
: Schedules filed in paper format shall include a signed original and five copies of the
schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.
*
The remainder of this cover page shall be filled out for a reporting persons initial
filing on this form with respect to the subject class of securities, and for any subsequent
amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be filed for
the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to
the liabilities of that section of the Act but shall be subject to all other provisions of the Act
(however, see the Notes).
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1
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NAMES OF REPORTING PERSONS.
Versata Enterprises, Inc.
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
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(a)
o
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(b)
þ
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS (SEE INSTRUCTIONS)
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WC
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5
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
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o
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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Delaware
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7
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SOLE VOTING POWER
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NUMBER OF
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969,965
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SHARES
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8
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SHARED VOTING POWER
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BENEFICIALLY
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OWNED BY
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0
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EACH
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9
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SOLE DISPOSITIVE POWER
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REPORTING
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PERSON
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969,965
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WITH
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10
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SHARED DISPOSITIVE POWER
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0
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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969,965
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12
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CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
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þ
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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10.1%
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14
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
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CO
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1
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NAMES OF REPORTING PERSONS.
Trilogy, Inc.
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
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(a)
o
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(b)
þ
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS (SEE INSTRUCTIONS)
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AF
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5
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
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o
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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Delaware
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7
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SOLE VOTING POWER
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NUMBER OF
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969,965
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SHARES
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8
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SHARED VOTING POWER
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BENEFICIALLY
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OWNED BY
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0
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EACH
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9
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SOLE DISPOSITIVE POWER
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REPORTING
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PERSON
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969,965
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WITH
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10
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SHARED DISPOSITIVE POWER
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0
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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969,965
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12
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CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
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þ
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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10.1%
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14
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
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CO
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1
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NAMES OF REPORTING PERSONS.
Joseph A. Liemandt
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
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(a)
o
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(b)
þ
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS (SEE INSTRUCTIONS)
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AF
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5
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
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o
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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United States
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7
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SOLE VOTING POWER
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NUMBER OF
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969,965
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SHARES
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8
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SHARED VOTING POWER
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BENEFICIALLY
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OWNED BY
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0
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EACH
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9
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SOLE DISPOSITIVE POWER
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REPORTING
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PERSON
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969,965
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WITH
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10
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SHARED DISPOSITIVE POWER
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0
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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969,965
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12
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CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
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þ
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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10.1%
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14
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
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IN/HC
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Item 1. Security and Issuer.
This statement relates to the common stock of NetManage, Inc. The address of the principal
executive offices of the issuer is 20883 Stevens Creek Boulevard, Cupertino, California 95014.
Item 2. Identity and Background.
Reporting Persons: Versata Enterprises, Inc.; Trilogy, Inc.; and Joseph A. Liemandt
The name of each person filing this statement and the place of organization or citizenship of
such reporting person is stated in Items 1 and 6 on the cover page(s) hereto. The principal
business of Versata Enterprises, Inc. is providing enterprise software products and services.
Versata is a wholly owned subsidiary of Trilogy, Inc. Trilogy may be deemed to control Versata and
beneficially own securities owned by Versata. The principal business of Trilogy is providing
technology-powered business services. Joseph A. Liemandt (i) is an officer and a director of
Versata and the President, Chief Executive Officer, and Chairman of the board of directors of
Trilogy and (ii) may be deemed to control each of Versata and Trilogy and beneficially own
securities owned by each of Versata and Trilogy. Each of Mr. Liemandt and Diane Liemandt-Reimann,
a director of Trilogy and the mother of Mr. Liemandt, own limited partnership interests in a
limited partnership that may be deemed to be controlled by Charles I. Frumberg, a director of
Trilogy. The present principal occupation of Mr. Liemandt is serving as the President, Chief
Executive Officer, and Chairman of the board of directors of Trilogy. The address of the principal
office or business address of each reporting person is 6011 West Courtyard Dr., Suite 300, Austin,
Texas 78730. During the last five years, no reporting person has been convicted in a criminal
proceeding, or was a party to a civil proceeding, required to be disclosed herein.
Other Persons
Charles I. Frumberg, a director of Trilogy, is the managing member of the investment manager
of Emancipation Capital Master, Ltd. According to information furnished by Emancipation Capital
Master and Mr. Frumberg, each of Emancipation Capital Master and Mr. Frumberg may be deemed to (i)
share power to vote or to direct the vote as to, (ii) share power to dispose or to direct the
disposition of, and (iii) beneficially own, in each case, 378,897 shares (or 4.0%) of the common
stock of the issuer. Each of Emancipation Capital Master and Mr. Frumberg disclaims beneficial
ownership of securities owned by the reporting persons and disclaims membership in a group with the
reporting persons.
The information with respect to Emancipation Capital Master and Mr. Frumberg is disclosed
herein because Instruction C of Schedule 13D requires information to be given with respect to each
director of Trilogy. If any reporting person is deemed to be a member of a group with Emancipation
Capital Master or Mr. Frumberg with respect to the issuer or securities of the issuer, each
reporting person may be deemed to (i) share power to vote or to direct the vote as to, (ii) share
power to dispose or to direct the disposition of, and (iii) beneficially own, in each case,
1,348,862 shares (or 14.1%) of the common stock of the issuer. However, each reporting person
disclaims beneficial ownership of securities owned by Emancipation Capital Master or Mr. Frumberg
and disclaims membership in a group with Emancipation Capital Master or Mr. Frumberg.
In determining information with respect to Emancipation Capital Master and Mr. Frumberg, each
reporting person has relied upon information set forth in filings with the Commission by
Emancipation Capital Master and Mr. Frumberg or other information which such reporting person knows
or has reason to know. No reporting person knows or has reason to believe that the information
herein concerning any other person is inaccurate or is responsible for the completeness or accuracy
of such information.
The information, if any, called for by Items 2-6, inclusive, of Schedule 13D with respect to
any person enumerated in Instruction C of Schedule 13D and required to be included in this
statement is included in Exhibit 99.1 hereto or otherwise herein. The information contained in
Exhibit 99.1 hereto and each other Item herein is incorporated by reference in answer or partial
answer to this Item.
Item 3. Source and Amount of Funds or Other Consideration.
Reporting Persons: Versata Enterprises, Inc.; Trilogy, Inc.; and Joseph A. Liemandt
Versata used approximately $3,747,869 of Versatas working capital to purchase the shares of
common stock of the issuer reported as beneficially owned by Versata herein.
Other Persons
According to Emancipation Capital Master and Mr. Frumberg, the shares beneficially owned by
Emancipation Capital Master and Mr. Frumberg were acquired using $1,895,622 of investment funds in
accounts under management.
The information with respect to Emancipation Capital Master and Mr. Frumberg is disclosed
herein because Instruction C of Schedule 13D requires information to be given with respect to each
director of Trilogy.
The information, if any, called for by Items 2-6, inclusive, of Schedule 13D with respect to
any person enumerated in Instruction C of Schedule 13D and required to be included in this
statement is included in Exhibit 99.1 hereto or otherwise herein. The information contained in
Exhibit 99.1 hereto and each other Item herein is incorporated by reference in answer or partial
answer to this Item.
Item 4. Purpose of the Transaction.
Reporting Persons: Versata Enterprises, Inc.; Trilogy, Inc.; and Joseph A. Liemandt
The acquisition of securities of the issuer by Versata is for investment purposes.
Each reporting person has engaged in discussions with the issuer concerning a sale of the
issuer or the securities of the issuer. Each reporting person plans and proposes to review their
investment in the issuer on a continuing basis. Depending upon the factors discussed below and any
other factors that are or become relevant, each reporting person plans and proposes to: acquire
additional shares of common stock of the issuer in open market or privately negotiated
transactions; sell all or part of the shares in open market or privately negotiated transactions;
recommend one or more transactions involving the sale of all or a part of the equity interests in
the issuer; make a proposal for the acquisition of all or a part of the equity interests in the
issuer; or engage in any combination of the foregoing.
Any open market or privately negotiated purchases or sales, acquisition recommendations or
proposals or other transactions may be made at any time without prior notice. Any alternative may
depend upon a variety of factors, including, without limitation, current and anticipated future
trading prices of the common stock, the financial condition, results of operations and prospects of
the issuer and general industry conditions, the availability, form and terms of financing, other
investment and business opportunities, general stock market and economic conditions, tax
considerations and other factors. Although the foregoing reflects plans and proposals presently
contemplated by each reporting person with respect to the issuer, the foregoing is subject to
change at any time, and there can be no assurance that any of the actions set forth above will be
taken.
Other Persons
According to Emancipation Capital Master and Mr. Frumberg, each of Emancipation Capital Master
and Mr. Frumberg originally acquired shares for investment in the ordinary course of business and
believe that the shares at current market prices are undervalued and that the maximum value of the
issuer may best be realized through a sale of the issuer to a third party. Emancipation Capital
Master and Mr. Frumberg have engaged and intend to continue to engage in discussions, as deemed
appropriate by Emancipation Capital Master and Mr. Frumberg, with the management and board of
directors of the issuer requesting them to give serious consideration to any acquisition proposals.
In the ordinary course of their investment business, from time to time, representatives of
Emancipation Capital Master and Mr. Frumberg engage in discussions with the management of companies
in which they have invested concerning the business and operations of the company and potential
approaches to maximizing
shareholder value. Emancipation Capital Master and Mr. Frumberg have engaged, and intend to
continue to engage, in such discussions with the issuer, other holders of the issuers shares
and/or third parties.
According to Emancipation Capital Master and Mr. Frumberg, Emancipation Capital Master and Mr.
Frumberg have no present plan or proposal that would relate to or result in any of the matters set
forth in subparagraphs (a)-(j) of Item 4 of Schedule 13D except as set forth in the preceding
paragraph or this paragraph or such as would occur upon completion of any of the actions in either
such paragraph. Emancipation Capital Master and Mr. Frumberg intend to review their investment in
the issuer on a continuing basis. Depending on various factors including, without limitation, the
issuers financial position and strategic direction, price levels of the shares, conditions in the
securities market and general economic and industry conditions, Emancipation Capital Master and Mr.
Frumberg may in the future take such actions with respect to their investment in the issuer as they
deem appropriate including, without limitation, purchasing additional shares or selling some or all
of their shares, hedging their positions and/or otherwise changing their intentions with respect to
any and all matters referred to herein.
The information with respect to Emancipation Capital Master and Mr. Frumberg is disclosed
herein because Instruction C of Schedule 13D requires information to be given with respect to each
director of Trilogy.
The information, if any, called for by Items 2-6, inclusive, of Schedule 13D with respect to
any person enumerated in Instruction C of Schedule 13D and required to be included in this
statement is included in Exhibit 99.1 hereto or otherwise herein. The information contained in
Exhibit 99.1 hereto and each other Item herein is incorporated by reference in answer or partial
answer to this Item.
Item 5. Interest in Securities of the Issuer.
(a) Each reporting person declares that neither the filing of this statement nor anything
herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or
13(g) of the Act or any other purpose, the beneficial owner of any securities covered by this
statement.
Each reporting person may be deemed to be a member of a group with respect to the issuer or
securities of the issuer for the purposes of Section 13(d) or 13(g) of the Act. Each reporting
person declares that neither the filing of this statement nor anything herein shall be construed as
an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any
other purpose, (i) acting (or has agreed or is agreeing to act) with any other person as a
partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding,
or disposing of securities of the issuer or otherwise with respect to the issuer or any securities
of the issuer or (ii) a member of any syndicate or group with respect to the issuer or any
securities of the issuer.
The aggregate number and percentage of the class of securities identified pursuant to Item 1
beneficially owned by each reporting person is stated in Items 11 and 13 on the cover page(s)
hereto.
(b) Number of shares as to which each reporting person has:
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(i)
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sole power to vote or to direct the vote:
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See Item 7 on the cover page(s) hereto.
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(ii)
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shared power to vote or to direct the vote:
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See Item 8 on the cover page(s) hereto.
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(iii)
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sole power to dispose or to direct the disposition of:
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See Item 9 on the cover page(s) hereto.
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(iv)
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shared power to dispose or to direct the disposition of:
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See Item 10 on the cover page(s) hereto.
(c) Transactions in the class of securities reported on that were effected during the past
sixty days or since the most recent filing of Schedule 13D, whichever is less, by the reporting
persons are described below.
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Transaction
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Effecting
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Shares
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Shares
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Price
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Description
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Date
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Person(s)
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Acquired
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Disposed
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Per Share
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of Transaction
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March 4, 2008
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Versata Enterprises, Inc.
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25,000
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0
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$
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3.8400
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(1)
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Open market purchase
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March 4, 2008
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Versata Enterprises, Inc.
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25,000
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0
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$
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3.8250
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(1)
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Open market purchase
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March 4, 2008
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Versata Enterprises, Inc.
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75,000
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0
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$
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3.8100
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(1)
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Open market purchase
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March 4, 2008
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Versata Enterprises, Inc.
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10,000
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0
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$
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3.8500
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(1)
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Open market purchase
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March 5, 2008
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Versata Enterprises, Inc.
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679,844
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0
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$
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3.8100
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(2)
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Open market purchase
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(1)
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Excluding commission of $0.05 per share.
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(2)
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Excluding commission of $0.01 per share.
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Except as otherwise described herein, no transactions in the common stock of the issuer were
effected during the past sixty days or since the most recent filing of Schedule 13D, whichever is
less, by any reporting person.
(d) Other persons may have the right to receive or the power to direct the receipt of
dividends from, or the proceeds from the sale of, shares of common stock that may be deemed to be
beneficially owned by the reporting persons.
(e) Not applicable.
The information, if any, called for by Items 2-6, inclusive, of Schedule 13D with respect to
any person enumerated in Instruction C of Schedule 13D and required to be included in this
statement is included in Exhibit 99.1 hereto or otherwise herein. The information contained in
Exhibit 99.1 hereto and each other Item herein is incorporated by reference in answer or partial
answer to this Item.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the
Issuer.
Except as otherwise described herein, no reporting person has any legal or other contract,
arrangement, understanding, or relationship with any other person with respect to any securities of
the issuer. To the knowledge of each reporting person, there are no contracts, arrangements,
understandings, or relationships (legal or otherwise) among the persons named in Item 2 and between
such persons and any person with respect to any securities of the issuer.
The information, if any, called for by Items 2-6, inclusive, of Schedule 13D with respect to
any person enumerated in Instruction C of Schedule 13D and required to be included in this
statement is included in Exhibit 99.1 hereto or otherwise herein. The information contained in
Exhibit 99.1 hereto and each other Item herein is incorporated by reference in answer or partial
answer to this Item.
Item 7. Material to be Filed as Exhibits.
The following exhibits are filed as exhibits hereto:
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Exhibit
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Description of Exhibit
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24.1
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Joint Filing Agreement and Power of Attorney
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99.1
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Additional Information
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the
information set forth in this statement is true, complete and correct.
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Date: March 12, 2008
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VERSATA ENTERPRISES, INC.
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By:
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/s/ Joseph A. Liemandt
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Name:
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Joseph A. Liemandt
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Title:
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Assistant Secretary
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TRILOGY, INC.
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By:
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/s/ Joseph A. Liemandt
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Name:
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Joseph A. Liemandt
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Title:
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President and Chief Executive Officer
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JOSEPH A. LIEMANDT
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By:
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/s/ Joseph A. Liemandt
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Name:
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Joseph A. Liemandt
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EXHIBIT INDEX
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Exhibit
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Description of Exhibit
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24.1
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Joint Filing Agreement and Power of Attorney
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99.1
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Additional Information
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