<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES
13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2 (b)
(Amendment No.2)*
PSW Technologies, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
69364J103
- --------------------------------------------------------------------------------
(CUSIP Number)
December 31, 1999
- --------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
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).
(Continued on following pages)
Page 1 of 20 Pages
<PAGE> 2
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CUSIP NO. 69364J103 13 G Page 2 of 20 Pages
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1 NAME OF REPORTING PERSON
TECHNOLOGY CROSSOVER VENTURES, L.P.
See Item 2 for identification of General Partner
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tax ID Number:
- ------------ -------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
- ------------ -------------------------------------------------------------------
3 SEC USE ONLY
- ------------ -------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------ -------------------------------------------------------------------
NUMBER OF
SHARES 5 SOLE VOTING POWER
BENEFICIALLY 0 (A)
OWNED BY EACH -------- ----------------------------------
REPORTING
PERSON 6 SHARED VOTING POWER
WITH 0(A)
-------- ----------------------------------
7 SOLE DISPOSITIVE POWER
0(A)
-------- ----------------------------------
8 SHARED DISPOSITIVE POWER
0(A)
- ------------ -------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 0(A)
- ------------ -------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [X]
- ------------ -------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.0%
- ------------ -------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- ------------ -------------------------------------------------------------------
(A) Excludes an aggregate of 66,500 shares owned beneficially by the other
reporting persons indicated in this Schedule 13G, as to which this
reporting person disclaims beneficial ownership.
<PAGE> 3
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CUSIP NO. 69364J103 13 G Page 3 of 20 Pages
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1 NAME OF REPORTING PERSON
TECHNOLOGY CROSSOVER VENTURES, C.V.
See Item 2 for identification of Investment General Partner
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tax ID Number:
- ------------ -------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
- ------------ -------------------------------------------------------------------
3 SEC USE ONLY
- ------------ -------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Netherlands Antilles
- ------------------------------------ -------- ----------------------------------
NUMBER OF
SHARES 5 SOLE VOTING POWER
BENEFICIALLY 0(A)
OWNED BY EACH -------- ----------------------------------
REPORTING
PERSON 6 SHARED VOTING POWER
WITH 0(A)
-------- ----------------------------------
7 SOLE DISPOSITIVE POWER
0(A)
-------- ----------------------------------
8 SHARED DISPOSITIVE POWER
0(A)
- ------------ -------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 0(A)
- ------------ -------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [X]
- ------------ -------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.0%
- ------------ -------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- ------------ -------------------------------------------------------------------
(A) Excludes an aggregate of 66,500 shares owned beneficially by the other
reporting persons indicated in this Schedule 13G, as to which this
reporting person disclaims beneficial ownership.
<PAGE> 4
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CUSIP NO. 69364J103 13 G Page 4 of 20 Pages
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1 NAME OF REPORTING PERSON
TECHNOLOGY CROSSOVER MANAGEMENT, L.L.C.
See Item 2 for identification of Managing Members
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tax ID Number:
- ------------ -------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
- ------------ -------------------------------------------------------------------
3 SEC USE ONLY
- ------------ -------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------ -------------------------------------------------------------------
NUMBER OF
SHARES 5 SOLE VOTING POWER
BENEFICIALLY 0(A)
OWNED BY EACH -------- ----------------------------------
REPORTING
PERSON 6 SHARED VOTING POWER
WITH 0(A)
-------- ----------------------------------
7 SOLE DISPOSITIVE POWER
0(A)
-------- ----------------------------------
8 SHARED DISPOSITIVE POWER
0(A)
- ------------ -------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 0(A)
- ------------ -------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [X]
- ------------ -------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.0%
- ------------ -------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO
- ------------ -------------------------------------------------------------------
(A) Excludes an aggregate of 66,500 shares owned beneficially by the other
reporting persons indicated in this Schedule 13G, as to which this
reporting person disclaims beneficial ownership.
<PAGE> 5
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CUSIP NO. 69364J103 13 G Page 5 of 20 Pages
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1 NAME OF REPORTING PERSON
TCV II, V.O.F.
See Item 2 for list of Managing General Partners
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tax ID Number:
- ------------ -------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
- ------------ -------------------------------------------------------------------
3 SEC USE ONLY
- ------------ -------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Netherlands Antilles
- ------------ -------------------------------------------------------------------
NUMBER OF
SHARES 5 SOLE VOTING POWER
BENEFICIALLY 1,033(A)
OWNED BY EACH -------- ----------------------------------
REPORTING
PERSON 6 SHARED VOTING POWER
WITH 0(A)
-------- ----------------------------------
7 SOLE DISPOSITIVE POWER
1,033(A)
-------- ----------------------------------
8 SHARED DISPOSITIVE POWER
0(A)
- ------------ -------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 1,033(A)
- ------------ -------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [X]
- ------------ -------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.0%
- ------------ -------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- ------------ -------------------------------------------------------------------
(A) Excludes an aggregate of 65,467 shares owned beneficially by the other
reporting persons indicated in this Schedule 13G, as to which this
reporting person disclaims beneficial ownership.
<PAGE> 6
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CUSIP NO. 69364J103 13 G Page 6 of 20 Pages
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1 NAME OF REPORTING PERSON
TECHNOLOGY CROSSOVER VENTURES II, L.P.
See Item 2 for identification of General Partner
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tax ID Number:
- ------------ -------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
- ------------ -------------------------------------------------------------------
3 SEC USE ONLY
- ------------ -------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------ -------------------------------------------------------------------
NUMBER OF
SHARES 5 SOLE VOTING POWER
BENEFICIALLY 31,811(A)
OWNED BY EACH -------- ----------------------------------
REPORTING
PERSON 6 SHARED VOTING POWER
WITH 0(A)
-------- ----------------------------------
7 SOLE DISPOSITIVE POWER
31,811(A)
-------- ----------------------------------
8 SHARED DISPOSITIVE POWER
0(A)
- ------------ -------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 31,811(A)
- ------------ -------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [X]
- ------------ -------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.3%
- ------------ -------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- ------------ -------------------------------------------------------------------
(A) Excludes an aggregate of 34,689 shares owned beneficially by the other
reporting persons indicated in this Schedule 13G, as to which this
reporting person disclaims beneficial ownership.
<PAGE> 7
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CUSIP NO. 69364J103 13 G Page 7 of 20 Pages
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1 NAME OF REPORTING PERSON
TCV II (Q), L.P.
See Item 2 for identification of General Partner
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tax ID Number:
- ------------ -------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
- ------------ -------------------------------------------------------------------
3 SEC USE ONLY
- ------------ -------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------ -------------------------------------------------------------------
NUMBER OF
SHARES 5 SOLE VOTING POWER
BENEFICIALLY 24,458(A)
OWNED BY EACH -------- ----------------------------------
REPORTING
PERSON 6 SHARED VOTING POWER
WITH 0(A)
-------- ----------------------------------
7 SOLE DISPOSITIVE POWER
24,458(A)
-------- ----------------------------------
8 SHARED DISPOSITIVE POWER
0(A)
- ------------ -------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 24,458(A)
- ------------ -------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [X]
- ------------ -------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.3%
- ------------ -------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- ------------ -------------------------------------------------------------------
(A) Excludes an aggregate of 42,042 shares owned beneficially by the other
reporting persons indicated in this Schedule 13G, as to which this
reporting person disclaims beneficial ownership.
<PAGE> 8
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CUSIP NO. 69364J103 13 G Page 8 of 20 Pages
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1 NAME OF REPORTING PERSON
TCV II STRATEGIC PARTNERS, L.P.
See Item 2 for identification of General Partner
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tax ID Number:
- ------------ -------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
- ------------ -------------------------------------------------------------------
3 SEC USE ONLY
- ------------ -------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------ -------------------------------------------------------------------
NUMBER OF
SHARES 5 SOLE VOTING POWER
BENEFICIALLY 4,341(A)
OWNED BY EACH -------- ----------------------------------
REPORTING
PERSON 6 SHARED VOTING POWER
WITH 0(A)
-------- ----------------------------------
7 SOLE DISPOSITIVE POWER
4,341(A)
-------- ----------------------------------
8 SHARED DISPOSITIVE POWER
0(A)
- ------------ -------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 4,341(A)
- ------------ -------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [X]
- ------------ -------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.0%
- ------------ -------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- ------------ -------------------------------------------------------------------
(A) Excludes an aggregate of 62,159 shares owned beneficially by the other
reporting persons indicated in this Schedule 13G, as to which this
reporting person disclaims beneficial ownership.
<PAGE> 9
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CUSIP NO. 69364J103 13 G Page 9 of 20 Pages
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1 NAME OF REPORTING PERSON
TECHNOLOGY CROSSOVER VENTURES II, C.V.
See Item 2 for identification of General Partner
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tax ID Number:
- ------------ -------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
- ------------ -------------------------------------------------------------------
3 SEC USE ONLY
- ------------ -------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Netherlands Antilles
- ------------ -------------------------------------------------------------------
NUMBER OF
SHARES 5 SOLE VOTING POWER
BENEFICIALLY 4,857(A)
OWNED BY EACH -------- ----------------------------------
REPORTING
PERSON 6 SHARED VOTING POWER
WITH 0(A)
-------- ----------------------------------
7 SOLE DISPOSITIVE POWER
4,857(A)
-------- ----------------------------------
8 SHARED DISPOSITIVE POWER
0(A)
- ------------ -------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 4,857(A)
- ------------ -------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [X]
- ------------ -------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.1%
- ------------ -------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- ------------ -------------------------------------------------------------------
(A) Excludes an aggregate of 61,643 shares owned beneficially by the other
reporting persons indicated in this Schedule 13G, as to which this
reporting person disclaims beneficial ownership.
<PAGE> 10
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CUSIP NO. 69364J103 13 G Page 10 of 20 Pages
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1 NAME OF REPORTING PERSON
TECHNOLOGY CROSSOVER MANAGEMENT II, L.L.C.
See Item 2 for list of Managing Members
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tax ID Number:
- ------------ -------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
- ------------ -------------------------------------------------------------------
3 SEC USE ONLY
- ------------ -------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------ -------------------------------------------------------------------
NUMBER OF
SHARES 5 SOLE VOTING POWER
BENEFICIALLY 66,500
OWNED BY EACH -------- ----------------------------------
REPORTING
PERSON 6 SHARED VOTING POWER
WITH 0
-------- ----------------------------------
7 SOLE DISPOSITIVE POWER
66,500
-------- ----------------------------------
8 SHARED DISPOSITIVE POWER
0
- ------------ -------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 66,500
- ------------ -------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
- ------------ -------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.7%
- ------------ -------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO
- ------------ -------------------------------------------------------------------
<PAGE> 11
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CUSIP NO. 69364J103 13 G Page 11 of 20 Pages
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1 NAME OF REPORTING PERSON JAY C. HOAG
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tax ID Number:
- ------------ -------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
- ------------ -------------------------------------------------------------------
3 SEC USE ONLY
- ------------ -------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S. Citizen
- ------------ -------------------------------------------------------------------
NUMBER OF
SHARES 5 SOLE VOTING POWER
BENEFICIALLY 0
OWNED BY EACH -------- ----------------------------------
REPORTING
PERSON 6 SHARED VOTING POWER
WITH 66,500
-------- ----------------------------------
7 SOLE DISPOSITIVE POWER
66,500
-------- ----------------------------------
8 SHARED DISPOSITIVE POWER
0
- ------------ -------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 66,500
- ------------ -------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
- ------------ -------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.7%
- ------------ -------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- ------------ -------------------------------------------------------------------
<PAGE> 12
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CUSIP NO. 69364J103 13 G Page 12 of 20 Pages
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- ------------ -------------------------------------------------------------------
1 NAME OF REPORTING PERSON RICHARD H. KIMBALL
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tax ID Number:
- ------------ -------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
- ------------ -------------------------------------------------------------------
3 SEC USE ONLY
- ------------ -------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S. Citizen
- ------------ -------------------------------------------------------------------
NUMBER OF
SHARES 5 SOLE VOTING POWER
BENEFICIALLY 0
OWNED BY EACH -------- ----------------------------------
REPORTING
PERSON 6 SHARED VOTING POWER
WITH 66,500
-------- ----------------------------------
7 SOLE DISPOSITIVE POWER
66,500
-------- ----------------------------------
8 SHARED DISPOSITIVE POWER
0
- ------------ -------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 66,500
- ------------ -------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
- ------------ -------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.7%
- ------------ -------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- ------------ -------------------------------------------------------------------
<PAGE> 13
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CUSIP NO. 69364J103 13 G Page 13 of 20 Pages
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ITEM 1.
(a) NAME OF ISSUER: PSW Technologies, Inc. (the "Company")
(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
6300 Bridgepoint Parkway, Building 3, Suite 200, Austin,
Texas 78730.
ITEM 2.
Set forth below is the following information with respect to each of
the persons filing this Schedule 13G (together, the "Filing Persons"): (a) name;
(b) address of principal offices (if entity) or residence or business address
(if individual); (c) citizenship (if individual) or jurisdiction of organization
(if entity); (d) title of class of securities and (e) CUSIP number.
I.
(a) Technology Crossover Ventures, L.P., a Delaware
limited partnership ("TCV, L.P."). The General
Partner of TCV, L.P. is Technology Crossover
Management, L.L.C., a Delaware limited liability
company ("TCM"). The sole Managing Members of TCM are
Jay C. Hoag ("Hoag") and Richard H. Kimball
("Kimball").
(b) 575 High Street, Suite 400, Palo Alto, CA 94301
(c) Delaware
(d) Common Stock
(e) 69364J103
II.
(a) Technology Crossover Ventures, C.V., a Netherlands
Antilles limited partnership ("TCV, C.V."). The
General Partners of TCV, C.V. are TCM and Technology
Crossover Administrator, N.V., a Netherlands Antilles
corporation ("TCA"). TCA is ultimately controlled by
Hoag and Kimball.
(b) Pietermaai 15, Willemstad, Curacao, Netherlands Antilles
(c) Netherlands Antilles
(d) Common Stock
(e) 69364J103
III.
(a) Technology Crossover Management, L.L.C., a Delaware
limited liability company. The sole Managing Members
of TCM are Hoag and Kimball.
(b) 575 High Street, Suite 400, Palo Alto, CA 94301
(c) Delaware
(d) Common Stock
(e) 69364J103
IV.
(a) TCV II, V.O.F., a Netherlands Antilles general
partnership ("TCV II, V.O.F."). The Managing General
Partners of TCV II, V.O.F. are Technology Crossover
Management II, L.L.C., a Delaware limited liability
company ("TCM II") and Technology Administrator II,
N.V., a Netherlands Antilles corporation ("TCA II").
The sole Managing Members of TCM II are Hoag and
Kimball. TCA II is ultimately controlled by Hoag and
Kimball.
(b) Pietermaai 15, Willemstad, Curacao, Netherlands Antilles
(c) Netherlands Antilles
<PAGE> 14
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CUSIP NO. 69364J103 13 G Page 14 of 20 Pages
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(d) Common Stock
(e) 69364J103
V.
(a) Technology Crossover Ventures II, L.P., a Delaware limited
partnership ("TCV II, L.P."). The General Partner of
TCV II, L.P. is TCM II.
(b) 575 High Street, Suite 400, Palo Alto, CA 94301
(c) Delaware
(d) Common Stock
(e) 69364J103
VI.
(a) TCV II (Q), L.P., a Delaware limited partnership
("TCV II (Q)"). The General Partner of TCV II (Q) is
TCM II.
(b) 575 High Street, Suite 400, Palo Alto, CA 94301
(c) Delaware
(d) Common Stock
(e) 69364J103
VII.
(a) TCV II Strategic Partners, L.P., a Delaware limited
partnership ("TCV II SP"). The General Partner of TCV
II Strategic Partners is TCM II.
(b) 575 High Street, Suite 400, Palo Alto, CA 94301
(c) Delaware
(d) Common Stock
(e) 69364J103
VIII.
(a) Technology Crossover Ventures II, C.V., a Netherlands
Antilles limited partnership ("TCV II, C.V."). The
Managing General Partners of TCV II, C.V. are TCM II
and TCA II.
(b) Pietermaai 15, Willemstad, Curacao, Netherlands Antilles
(c) Netherlands Antilles
(d) Common Stock
(e) 69364J103
IX.
(a) Technology Crossover Management II, L.L.C., a
Delaware limited liability company. The sole Managing
Members of TCM II are Hoag and Kimball.
(b) 575 High Street, Suite 400, Palo Alto, CA 94301
(c) Delaware
(d) Common Stock
(e) 69364J103
X.
(a) Jay C. Hoag
(b) 575 High Street, Suite 400, Palo Alto, CA 94301
(c) U.S. Citizen
(d) Common Stock
(e) 69364J103
<PAGE> 15
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CUSIP NO. 69364J103 13 G Page 15 of 20 Pages
- ------------------------------- -----------------------------
XI.
(a) Richard H. Kimball
(b) 575 High Street, Suite 400, Palo Alto, CA 94301
(c) U.S. Citizen
(d) Common Stock
(e) 69364J103
ITEM 3.
Not Applicable
ITEM 4.
(a), (b) and (c) This Schedule 13G shall not be construed as an
admission that any Filing Person is, either for purposes of Section 13(d) or
13(g) of the Act or for other purposes, the beneficial owner of any Common Stock
disclosed in this Schedule 13G. The aggregate number and percentage of the class
of securities identified pursuant to Item 1 of this Schedule 13G that, pursuant
to Rule 13d-3, may be deemed to be beneficially owned by each Filing Person are
as follows:
<TABLE>
<CAPTION>
Common Stock Dispositive
Filing Person Beneficially Owned % of Class (1) Voting Power Power
------------- ------------------ -------------- ------------ -----------
<S> <C> <C> <C> <C>
TCV, L.P. (2) 0 0.0% sole sole
TCV, C.V. (2) 0 0.0% sole sole
TCM 0 0.0.% sole sole
TCV II, V.O.F. (3) 1,033 0.0% sole sole
TCV II, L.P. (3) 31,811 0.3% sole sole
TCV II (Q), L.P. (3) 24,458 0.3% sole sole
TCV II SP (3) 4,341 0.0% sole sole
TCV II, C.V. (3) 4,857 0.1% sole sole
TCM II 66,500 0.7% sole sole
Hoag (4) 66,500 0.7% shared sole
Kimball (4) 66,500 0.7% shared sole
</TABLE>
(1) All percentages in this table are based on
the 9,543,065 shares of Common Stock of the
Company outstanding, as of October 31, 1999,
as reported in the Company's Quarterly
Report on Form 10-Q for the quarterly period
ended September 30, 1999.
(2) Each noted entity (together, the "TCV I
Funds") is the holder of record of the
securities set forth opposite the name of
such entity and has sole voting and
investment power with respect to such
securities. TCM, as sole General Partner of
TCV, L.P. and as Investment General Partner
of TCV, C.V., may also be deemed to have
sole voting and investment power with
respect to such securities. TCM disclaims
beneficial ownership of such securities
except to the extent of its pecuniary
interest therein.
(3) Each noted entity (together, the "TCV II
Funds") is the holder of record of the
securities set forth opposite the name of
such entity and has sole voting and
investment power with respect to such
securities. TCM II, as sole General Partner
of TCV II, L.P., TCV II (Q) and TCV II SP,
and as Investment General Partner of TCV II,
V.O.F. and TCV II, C.V., may also be deemed
to have sole voting and investment power
with respect to such securities. TCM II
disclaims beneficial ownership of such
securities except to the extent of its
pecuniary interest therein.
<PAGE> 16
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CUSIP NO. 69364J103 13 G Page 16 of 20 Pages
- ------------------------------- -----------------------------
(4) Under the operating agreement of TCM, and
TCM II, Hoag and Kimball have the
independent power to cause the funds managed
by such entity to buy and sell securities of
publicly traded portfolio companies,
however, in general, they must act by
unanimous consent with respect to all other
matters, including directing the voting of
such securities. As a result, Hoag and
Kimball may also be deemed to have sole
dispositive power and shared voting power
with respect to the securities held by the
TCV I Funds and TCV II Funds. Hoag and
Kimball disclaim beneficial ownership of
such securities except to the extent of
their respective pecuniary interests
therein.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following [X].
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF
ANOTHER PERSON
Not Applicable.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE
SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING
REPORTED ON BY THE PARENT HOLDING COMPANY
Not Applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS
OF THE GROUP
This Schedule 13G is being filed jointly pursuant to Rule 13d-1(k). As
a result of the relationships among the Filing Persons described herein, some or
all of the Filing Persons may be deemed to comprise a "group" within the meaning
of Section 13 and the Rules promulgated thereunder. However, the Filing Persons
deny such group status.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not Applicable.
ITEM 10. CERTIFICATION
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
<PAGE> 17
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CUSIP NO. 69364J103 13 G Page 17 of 20 Pages
- ------------------------------- -----------------------------
MATERIAL TO BE FILED AS EXHIBITS
The following exhibit was filed as Exhibit A to the Schedule 13D
relating to the Common Stock of Digital Generation Systems, Inc. filed by the
undersigned with the Securities and Exchange Commission on September 5, 1997 and
is hereby incorporated herein by reference, as updated by Exhibit B hereto:
Exhibit A - Statement Appointing Designated Filer and Authorized Signer
dated September 5, 1997
The following exhibit was filed as Exhibit B to the Schedule 13G
relating to the Common Stock of PSW Technologies, Inc. filed by the undersigned
with the Securities and Exchange Commission on October 23, 1998 and is hereby
incorporated herein by reference:
Exhibit B - October 23, 1998 Update to Exhibit A to the Designated
Filer Statement
The following exhibit was filed as Exhibit C to the Schedule 13G
relating to the Common Stock of Cacheflow, Inc., filed by the undersigned with
the Securities and Exchange Commission on November 29, 1999 and is hereby
incorporated herein by reference:
Exhibit C - Agreement to File Jointly and Statement Appointing
Designated Filer and Authorized Signatory
<PAGE> 18
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CUSIP NO. 69364J103 13 G Page 18 of 20 Pages
- ------------------------------- -----------------------------
SIGNATURES
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.
Dated: February 1, 2000 TECHNOLOGY CROSSOVER VENTURES, L.P.,
a Delaware Limited Partnership
By: /s/ Robert C. Bensky
----------------------------
Robert C. Bensky
Authorized Signatory
Dated: February 1, 2000 TECHNOLOGY CROSSOVER VENTURES, C.V., a
Netherlands Antilles Limited Partnership
By: /s/ Robert C. Bensky
-----------------------------
Robert C. Bensky
Authorized Signatory
Dated: February 1, 2000 TECHNOLOGY CROSSOVER MANAGEMENT, L.L.C.,
a Delaware Limited Liability Company
By: /s/ Robert C. Bensky
-----------------------------
Robert C. Bensky
Authorized Signatory
Dated: February 1, 2000 TECHNOLOGY CROSSOVER VENTURES II, L.P.,
a Delaware Limited Partnership
By: /s/ Robert C. Bensky
-----------------------------
Robert C. Bensky
Authorized Signatory
<PAGE> 19
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CUSIP NO. 69364J103 13 G Page 19 of 20 Pages
- ------------------------------- -----------------------------
Dated: February 1, 2000 TCV II (Q), L.P.,
a Delaware Limited Partnership
By: /s/ Robert C. Bensky
-----------------------------
Robert C. Bensky
Authorized Signatory
Dated: February 1, 2000 TCV II STRATEGIC PARTNERS, L.P.,
a Delaware Limited Partnership
By: /s/ Robert C. Bensky
-----------------------------
Robert C. Bensky
Authorized Signatory
Dated: February 1, 2000 TECHNOLOGY CROSSOVER VENTURES II, C.V., a
Netherlands Antilles Limited Partnership
By: /s/ Robert C. Bensky
-----------------------------
Robert C. Bensky
Authorized Signatory
Dated: February 1, 2000 TCV II, V.O.F.,
a Netherlands Antilles General
Partnership
By: /s/ Robert C. Bensky
-----------------------------
Robert C. Bensky
Authorized Signatory
Dated: February 1, 2000 TECHNOLOGY CROSSOVER MANAGEMENT II,
L.L.C., a Delaware Limited Liability
Company
By: /s/ Robert C. Bensky
-----------------------------
Robert C. Bensky
Authorized Signatory
<PAGE> 20
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CUSIP NO. 69364J103 13 G Page 20 of 20 Pages
- ------------------------------- -----------------------------
Dated: February 1, 2000 JAY C. HOAG
By: /s/ Robert C. Bensky
-----------------------------
Robert C. Bensky
Authorized Signatory
Dated: February 1, 2000 RICHARD H. KIMBALL
By: /s/ Robert C. Bensky
-----------------------------
Robert C. Bensky
Authorized Signatory
