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OMB APPROVAL
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
SQA, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.01 par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
784637100
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(CUSIP Number)
*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).
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CUSIP NO. 78463710 13G PAGE 2 OF 11 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
North Bridge Venture Partners, L.P.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
506,363
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
506,363
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
506,363
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES* [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
6.24%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 2 of 11 pages
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CUSIP NO. 78463710 13G PAGE 3 OF 11 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
North Bridge Venture Management, L.P.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
506,363
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
506,363
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
506,363
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES* [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
6.24%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 3 of 11 pages
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CUSIP NO. 78463710 13G PAGE 4 OF 11 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Edward T. Anderson
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF
41,728
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
853,124
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 41,728
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
853,124
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
894,852
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES* [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
11.03%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 4 of 11 pages
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CUSIP NO. 78463710 13G PAGE 2 OF 11 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Richard A. D'Amore
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
506,363
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
506,363
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
506,363
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES* [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
6.24%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 5 of 11 pages
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CUSIP NO. 78463710 13G PAGE 6 OF 11 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robert Walkingshaw
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
853,124
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
853,124
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
853,124
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES* [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
10.52%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 6 of 11 pages
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Item 1(a). Name of Issuer: SQA, Inc.
--------------
Item 1(b). Address of Issuer's Principal Executive Offices: One Burlington
-----------------------------------------------
Woods Drive, Burlington, MA 01803
<TABLE>
<CAPTION>
Item 2(a) Item 2(b) Item 2(c)
- --------- --------- ---------
Citizenship or Place
Name of Person Filing Address of Organization
- --------------------- ------- ----------------
<S> <C> <C>
North Bridge Venture Partners, L.P. 404 Wyman Street Delaware
("North Bridge"), a Delaware Suite 365
limited partnership Waltham, MA 02154
North Bridge Venture Management, L.P. 404 Wyman Street Delaware
("North Bridge Management"), a Suite 365
Delaware limited partnership, and the Waltham, MA 02154
sole general partner of North Bridge
Edward T. Anderson, Richard A. D'Amore and 404 Wyman Street United States
Robert Walkingshaw (the "General Partners"), Suite 365
general partners of North Bridge Management Waltham, MA 02154
</TABLE>
Item 2(d). Title of Class of Securities: Common Stock, $.01 par value.
----------------------------
Item 2(e). CUSIP Number: 784637100
-------------
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
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check whether the person filing is a:
------------------------------------
(a) [ ] Broker or Dealer registered under Section 15 of the
Securities Exchange Act of 1934 (the "Act").
(b) [ ] Bank as defined in Section 3(a)(6) of the Act.
(c) [ ] Insurance Company as defined in Section 3(a)(19) of the
Act.
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act of 1940.
(e) [ ] Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940.
(f) [ ] Employee Benefit Plan, Pension Fund which is subject
to the provisions of the Employee Retirement Income
Security Act of 1974 or Endowment Fund; see Rule 13d-
1(b)(1)(ii)(F) of the Act.
(g) [ ] Parent Holding Company, in accordance with Rule 13d-
1(b)(ii)(G) of the Act.
(h) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H) of
the Act.
None of the above.
Page 7 of 11 pages
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Item 4. Ownership.
---------
(a) Amount Beneficially Owned:
Each of North Bridge, North Bridge Management and Mr. D'Amore
may be deemed to own beneficially 506,363 shares of Common Stock
as of December 31, 1996. Mr. Anderson may be deemed to own
beneficially 894,852 shares of Common Stock as of December 31,
1996. Mr. Walkingshaw may be deemed to own beneficially 853,124
shares of Common Stock as of December 31, 1996.
North Bridge is the record owner of 506,363 shares of Common
Stock (the "North Bridge Shares"). By virtue of the affiliate
relationship between North Bridge and North Bridge Management,
North Bridge Management may be deemed to beneficially own the
North Bridge Shares. Additionally, in their capacities as
individual general partners of North Bridge Management, each of
the General Partners may be deemed to own beneficially the North
Bridge Shares. North Bridge Management and each of the General
Partners disclaim beneficial ownership of the North Bridge Shares
except to the extent of their proportionate pecuniary interest
therein.
ABS Ventures III Limited Partnership ("ABS"), a Delaware limited
partnership, is the record owner of 346,761 shares of Common
Stock (the "ABS Shares"). By virtue of the affiliate
relationship between ABS and Calvert Capital, L.P. ("Calvert"),
Calvert may be deemed to own beneficially the ABS Shares.
Additionally, in their capacities as individual general partners
of Calvert, Mr. Anderson and Mr. Walkingshaw may be deemed to own
beneficially the ABS Shares. Mr. Anderson and Mr. Walkingshaw
disclaim beneficial ownership of the ABS Shares except to the
extent of their proportionate pecuniary interest therein.
(b) Percent of Class:
North Bridge: 6.24%; North Bridge Management: 6.24%; Mr. D'Amore:
6.24%; Mr. Anderson: 11.03% and Mr. Walkingshaw: 10.52%. The
foregoing percentages are calculated based on the 8,111,480
shares of Common Stock outstanding as of December 31, 1996.
(c) Number of shares as to which each such person has:
(i) North Bridge, North Bridge Management, Mr. D'Amore and Mr.
Walkingshaw each have sole power to vote or direct the vote
of -0- shares of Common Stock. Mr. Anderson has sole power
to vote or direct the vote of 41,728 shares of Common Stock.
(ii) North Bridge, North Bridge Management and Mr. D'Amore have
shared power to vote or to direct the vote of 506,363
shares. Mr. Anderson and Mr. Walkingshaw have shared power
to vote or direct the vote of 853,124 shares of Common
Stock.
(iii) North Bridge, North Bridge Management, Mr. D'Amore and
Mr. Walkingshaw each have sole power to dispose or to direct
the disposition of -0- shares of Common Stock. Mr. Anderson
has sole power to dispose or to direct the disposition of
41,728 shares of Common Stock.
(iv) North Bridge, North Bridge Management and Mr. D'Amore have
shared power to dispose or to direct the disposition of
506,363 shares. Mr. Anderson and Mr. Walkingshaw have shared
power to dispose or to direct the disposition of 853,124
shares of Common Stock.
Page 8 of 11 pages
<PAGE>
Item 5. Ownership of Five Percent or Less of a Class.
--------------------------------------------
Not applicable.
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.
---------------------------------------------------------
Not applicable. North Bridge, North Bridge Management and each of
the General Partners expressly disclaim membership in a "group"
and are not filing this schedule pursuant to Rule 13d-1(b)(ii)(H).
Item 9. Notice of Dissolution of Group.
------------------------------
Not applicable.
Item 10. Certification.
-------------
Not applicable. This statement on Schedule 13G is not filed
pursuant to Rule 13d-1(b).
<PAGE>
SIGNATURE
---------
After reasonable inquiry and to the best of his or its knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: February 11, 1997
NORTH BRIDGE VENTURE PARTNERS, L.P.
By: North Bridge Venture Management, L.P.
By: /s/ Edward T. Anderson
-------------------------------
General Partner
NORTH BRIDGE VENTURE MANAGEMENT, L.P.
By: /s/ Edward T. Anderson
------------------------------------
General Partner
/s/ Edward T. Anderson
- --------------------------------------------
Edward T. Anderson
/s/ Richard A. D'Amore
- --------------------------------------------
Richard A. D'Amore
/s/ Robert Walkingshaw
- --------------------------------------------
Robert Walkingshaw
Page 10 of 11 pages
<PAGE>
Exhibit 1
AGREEMENT
---------
Pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934, the
undersigned hereby agree that only one statement containing the information
required by Schedule 13G need be filed on behalf of all of the undersigned with
respect to the ownership of shares of Common Stock of SQA, Inc. by North Bridge
Venture Partners, L.P.
This agreement may be executed in any number of counterparts, each of which
shall be deemed an original.
EXECUTED as a sealed instrument this 11th day of February, 1997.
NORTH BRIDGE VENTURE PARTNERS, L.P.
By: North Bridge Venture Management, L.P.
By: /s/ Edward T. Anderson
------------------------
General Partner
NORTH BRIDGE VENTURE MANAGEMENT, L.P.
By: /s/ Edward T. Anderson
----------------------------------
General Partner
/s/ Edward T. Anderson
- -----------------------------------
Edward T. Anderson
/s/ Richard A. D'Amore
- -----------------------------------
Richard A. D'Amore
/s/ Robert Walkingshaw
- -----------------------------------
Robert Walkingshaw
Page 11 of 11 pages
