My usual policy with regard to unsubstantiated rumors is to ignore them, but when a substantial number of people start repeating the same unsubstantiated rumor, it can take on a life of its own. That seems to be the case recently with a rumor that PIEtech, the developers of MoneyGuidePro, is for sale. I’ve heard dozens of assurances recently that Charles Schwab is about to buy them. Apparently, this is news to Bob Curtis, the CEO, founder, and majority owner of PIEtech.
In my experience, there are times where the rumors turn out to be true, and this one certainly appears plausible IF there was a willing seller, but there is not. Bob Curtis has been very consistently saying that PIEtech is not for sale. Of course, circumstances can change, and everyone has their price, but according to Curtis, who I spoke with recently, he is very happy with the current state of affairs at PIEtech.
Curtis and his management team recently sent out a message to their clients, which they invited me to share with T3 readers. It is pasted below. Hopefully, we can put this episode behind us and move on to more meaningful technology discussions.
~ Joel Bruckenstein, Producer, T3 Technology Tools for Today Conferences and T3 Technology Hub
A Special Note from Bob Curtis, CEO, PIETech, Inc.
I’ve seen several postings on the web stating (with apparent confidence) that PIEtech is being sold to Charles Schwab. As the majority owner of PIEtech, I would think that I’d be one of the first to know about such an important event, but I assure you, its “news to me.” However, if it is on the web, and repeated by enough people, it must be true, right? So now I’m wondering if some big check is going to show up at my office one day.
To be serious, the purpose of this note is to assure you that PIEtech is not for sale; not to Charles Schwab or any other firm, regardless of what people who know nothing post on the web. We do not even entertain the discussions about possibly selling. Additionally, we are not looking for any outside investors – we are self-funded, with no debt, and making a profit that lets us comfortably invest in the growth of our business.
I recently appointed Tony Leal as President (he’s still CTO as well) and Jaime Proctor as Chief Operating Officer. These changes support our long-term commitment to remaining independent and providing a clear succession plan. Tony and Jaime have been with PIE from the beginning and share my passion for our PIE vision. Our focus has not changed: constant product innovation, building true long-term partnerships with our customers and creating an environment where every employee is excited to come to work and proud of their contribution.
If you have any questions or concerns about the current or future state of PIE, please call me, Tony or Jaime directly for honest answers. Unfortunately, the web is frequently not where you find the truth.
Thanks for your continued support and true partnership.
~ Bob Curtis, CEO, PIETech, Inc.