UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1 )*
DSET Corporation
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, no par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
26250410
- --------------------------------------------------------------------------------
(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)
[ ] Rule 13d-1(c)
[X] 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 the
disclosures provided in a prior cover page.
The information required in 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).
Page 1 of 35 Pages
<PAGE>
- --------------------- -------------------
CUSIP NO. 26250410 13G PAGE 2 OF 35 PAGES
- --------------------- -------------------
================================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Summit Ventures IV, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a)[ ]
(b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware limited partnership
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0 shares
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 92,666 shares
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH: 0 shares
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
92,666 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
92,666 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.87%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- --------------------- -------------------
CUSIP NO. 26250410 13G PAGE 3 OF 35 PAGES
- --------------------- -------------------
================================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Summit Partners IV, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a)[ ]
(b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware limited partnership
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0 shares
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 92,666 shares
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH: 0 shares
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
92,666 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
92,666 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.87%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- --------------------- -------------------
CUSIP NO. 26250410 13G PAGE 4 OF 35 PAGES
- --------------------- -------------------
================================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Summit Investors II, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a)[ ]
(b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware limited partnership
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0 shares
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 92,666 shares
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH: 0 shares
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
92,666 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
92,666 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.87%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- --------------------- -------------------
CUSIP NO. 26250410 13G PAGE 5 OF 35 PAGES
- --------------------- -------------------
================================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Stamps, Woodsum & Co. IV
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a)[ ]
(b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Massachusetts general partnership
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0 shares
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 92,666 shares
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH: 0 shares
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
92,666 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
92,666 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.87%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- --------------------- -------------------
CUSIP NO. 26250410 13G PAGE 6 OF 35 PAGES
- --------------------- -------------------
================================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
E. Roe Stamps, IV
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a)[ ]
(b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0 shares
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 92,666 shares
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH: 0 shares
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
92,666 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
92,666 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.87%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- --------------------- -------------------
CUSIP NO. 26250410 13G PAGE 7 OF 35 PAGES
- --------------------- -------------------
================================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Stephen G. Woodsum
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a)[ ]
(b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0 shares
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 92,666 shares
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH: 0 shares
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
92,666 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
92,666 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.87%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- --------------------- -------------------
CUSIP NO. 26250410 13G PAGE 8 OF 35 PAGES
- --------------------- -------------------
================================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Gregory M. Avis
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a)[ ]
(b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0 shares
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 92,666 shares
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH: 0 shares
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
92,666 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
92,666 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.87%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- --------------------- -------------------
CUSIP NO. 26250410 13G PAGE 9 OF 35 PAGES
- --------------------- -------------------
================================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Martin J. Mannion
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a)[ ]
(b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0 shares
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 92,666 shares
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH: 0 shares
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
92,666 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
92,666 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.87%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- --------------------- -------------------
CUSIP NO. 26250410 13G PAGE 10 OF 35 PAGES
- --------------------- -------------------
================================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Bruce R. Evans
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a)[ ]
(b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0 shares
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 92,666 shares
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH: 0 shares
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
92,666 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
92,666 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.87%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- --------------------- -------------------
CUSIP NO. 26250410 13G PAGE 11 OF 35 PAGES
- --------------------- -------------------
================================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Thomas S. Roberts
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a)[ ]
(b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0 shares
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 92,666 shares
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH: 0 shares
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
92,666 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
92,666 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.87%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- --------------------- -------------------
CUSIP NO. 26250410 13G PAGE 12 OF 35 PAGES
- --------------------- -------------------
================================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Walter G. Kortschak
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a)[ ]
(b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0 shares
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 92,666 shares
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH: 0 shares
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
92,666 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
92,666 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.87%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- --------------------- -------------------
CUSIP NO. 26250410 13G PAGE 13 OF 35 PAGES
- --------------------- -------------------
================================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Joseph F. Trustey
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a)[ ]
(b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0 shares
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 88,746 shares
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH: 0 shares
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
88,746 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
88,746 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.84%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- --------------------- -------------------
CUSIP NO. 26250410 13G PAGE 14 OF 35 PAGES
- --------------------- -------------------
================================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Kevin P. Mohan
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a)[ ]
(b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0 shares
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 88,746 shares
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH: 0 shares
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
88,746 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
88,746 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.84%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- --------------------- -------------------
CUSIP NO. 26250410 13G PAGE 15 OF 35 PAGES
- --------------------- -------------------
================================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Peter Y. Chung
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a)[ ]
(b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0 shares
NUMBER OF -----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 88,746 shares
EACH -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH: 0 shares
-----------------------------------------------------
8 SHARED DISPOSITIVE POWER
88,746 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
88,746 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.84%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Schedule 13G
------------
Item 1(a). Name of Issuer: DSET Corporation.
Item 1(b). Address of Issuer's Principal Executive Offices: 1011 US
Highway 22, Bridgewater, NJ 08807.
Item 2(a). Names of Persons Filing: Summit Ventures IV, L.P., Summit
Partners IV, L.P., Summit Investors II, L.P., Stamps, Woodsum
& Co. IV and Messrs. E. Roe Stamps, IV, Stephen G. Woodsum,
Gregory M. Avis, Martin J. Mannion, Bruce R. Evans, Thomas S.
Roberts, Walter G. Kortschak, Joseph F. Trustey, Kevin P.
Mohan and Peter Y. Chung.
Summit Partners IV, L.P. is the sole general partner of Summit
Ventures IV, L.P. Stamps, Woodsum & Co. IV is the sole general
partner of Summit Partners IV, L.P. Messrs. Stamps, Woodsum,
Avis, Mannion, Evans, Roberts, and Kortschak, are individual
general partners of Stamps, Woodsum & Co. IV and Summit
Investors II, L.P. Messrs. Trustey, Mohan and Chung are
individual general partners of Stamps, Woodsum & Co. IV.
As of December 31, 1999, John A. Genest was no longer
affiliated with any of the "Entities" (as defined below).
Item 2(b). Address of Principal Business Office or, if None, Residence:
The address of the principal business office of Summit
Ventures IV, L.P., Summit Partners IV, L.P., Summit Investors
II, L.P., Stamps, Woodsum & Co. IV and Messrs. Stamps,
Woodsum, Mannion, Evans, Roberts, Trustey, and Mohan is Summit
Partners, 600 Atlantic Avenue, Boston, Massachusetts 02210.
The address of the principal business office of Messrs. Avis,
Kortschak, and Chung is Summit Partners, 499 Hamilton Avenue,
Palo Alto, California 94301.
Item 2(c). Citizenship: Each of Summit Ventures IV, L.P., Summit Partners
IV, L.P. and Summit Investors II, L.P. is a limited
partnership organized under the laws of the State of Delaware.
Stamps, Woodsum & Co. IV is a general partnership organized
under the laws of the Commonwealth of Massachusetts. Each of
Messrs. Stamps, Woodsum, Avis, Mannion, Evans, Roberts,
Kortschak, Trustey, Mohan and Chung is a United States
citizen.
Item 2(d). Title of Class of Securities: Common Stock, no par value.
Page 16 of 34 Pages
<PAGE>
Item 2(e). CUSIP Number: 26250410.
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b), check whether the person filing is a:
Not Applicable.
Item 4. Ownership.
Not Applicable.
Item 5. Ownership of Five Percent or Less of a Class.
[ X ] Each of Summit Ventures IV, L.P., Summit Partners IV,
L.P., Summit Investors II, L.P., Stamps, Woodsum & Co. IV
(individually and "Entity" and collectively the "Entities")
and Messrs. Stamps, Woodsum, Avis, Mannion, Evans, Roberts and
Kortschak may be deemed to own beneficially 92,666 shares of
Common Stock purchasable upon the exercise of certain warrants
as of December 31, 1999, which is five percent or less of the
Common Stock of DSET Corporation. Messrs. Trustey, Mohan and
Chung may be deemed to own beneficially 88,746 shares of
Common Stock purchasable upon the exercise of certain warrants
as of December 31, 1999 which is five percent or less of the
Common Stock of DSET Corporation.
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. The reporting persons expressly disclaim
membership in a "group" as defined in Rule 13d-1(b)(1)(ii)(J).
Item 9. Notice of Dissolution of Group.
Not Applicable.
Item 10. Certification.
Page 17 of 34 Pages
<PAGE>
Not Applicable. This statement on Schedule 13G is not filed
pursuant to Rule 13d-1(b).
Page 18 of 35
<PAGE>
SIGNATURES
----------
After reasonable inquiry and to the best of our knowledge and belief, we
certify that the information set forth in this statement is true, complete and
correct. We also hereby agree to file this statement jointly pursuant to the
Agreement listed on Exhibit 1 hereto.
---------
Dated: February 11, 2000.
SUMMIT VENTURES IV, L.P. *
----------------------------
By: Summit Partners IV, L.P. E. Roe Stamps, IV
*
----------------------------
By: Stamps, Woodsum & Co. IV Stephen G. Woodsum
By: * *
--------------------------- ----------------------------
E. Roe Stamps, IV Gregory M. Avis
General Partner
*
----------------------------
SUMMIT INVESTORS II, L.P. Martin J. Mannion
By: * *
-------------------------- ----------------------------
General Partner Bruce R. Evans
*
----------------------------
SUMMIT PARTNERS IV, L.P. Walter G. Kortschak
By: Stamps, Woodsum & Co. IV *
----------------------------
Thomas S. Roberts
By: *
-------------------------- *
E. Roe Stamps ----------------------------
General Partner Joseph F. Trustey
*
STAMPS, WOODSUM & CO. IV ----------------------------
Kevin P. Mohan
By: *
--------------------------
E. Roe Stamps
General Partner
Page 19 of 34 Pages
<PAGE>
*
---------------------------
Peter Y. Chung
*By: /s/ Thomas F. Farb
--------------------------
Thomas F. Farb
Attorney-in-Fact
- --------------------------------------------------------------------------------
* Pursuant to Powers of Attorney on file with the Commission, which Powers of
Attorney are incorporated herein by reference. Copies of such Powers of Attorney
are attached hereto as Exhibit 2.
---------
Page 20 of 34 Pages
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 with respect to the ownership by each of
the undersigned of shares of Common Stock of DSET Corporation.
This agreement may be executed in any number of counterparts, each of
which shall be deemed an original.
EXECUTED this 11 day of February, 2000.
SUMMIT VENTURES IV, L.P. *
----------------------------
By: Summit Partners IV, L.P. E. Roe Stamps, IV
*
----------------------------
By: Stamps, Woodsum & Co. IV Stephen G. Woodsum
By: * *
--------------------------- ----------------------------
E. Roe Stamps, IV Gregory M. Avis
General Partner
SUMMIT INVESTORS II, L.P. *
----------------------------
Martin J. Mannion
By: *
--------------------------
General Partner *
----------------------------
Bruce R. Evans
SUMMIT PARTNERS IV, L.P. *
----------------------------
Walter G. Kortschak
By: Stamps, Woodsum & Co. IV
*
By: * ----------------------------
-------------------------- Thomas S. Roberts
E. Roe Stamps
General Partner
*
----------------------------
Joseph F. Trustey
Page 21 of 34 Pages
<PAGE>
STAMPS, WOODSUM & CO. IV
By: * *
-------------------------- ---------------------------
E. Roe Stamps Kevin P. Mohan
General Partner
*
---------------------------
Peter Y. Chung
*By: /s/ Thomas F. Farb
--------------------------
Thomas F. Farb
Attorney-in-Fact
- --------------------------------------------------------------------------------
* Pursuant to Powers of Attorney on file with the Commission, which Powers
of Attorney are incorporated herein by reference. Copies of such Powers of
Attorney are attached hereto as Exhibit 2.
---------
Page 22 of 34 Pages
EXHIBIT 2
---------
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature
appears below hereby constitutes and appoints each and any of E. Roe Stamps, IV,
Stephen G. Woodsum, Gregory M. Avis, Walter G. Kortschak and Thomas F. Farb his
true and lawful attorney-in-fact and agent, with full power of substitution and
resubstitution, for him and in his name, place and stead, in any and all
capacities (until revoked in writing) to sign any and all instruments,
certificates and documents required to be executed on behalf of himself
individually or on behalf of each or any of Summit Ventures, L.P., SP (1984),
L.P. (f/k/a Summit Partners, L.P.), Stamps, Woodsum & Co., Summit Partners'
Holdings, L.P., Summit Ventures II, L.P., Summit Partners II, L.P., Stamps,
Woodsum & Co. II, SV Eurofund C.V., SV International, L.P., Summit Investors,
L.P., Summit Investors II, L.P., Summit Investors III, L.P., Summit Ventures
III, L.P., Summit Partners III, L.P., Stamps, Woodsum & Co. III, Summit Ventures
IV, L.P., Summit Partners IV, L.P., Stamps, Woodsum & Co., IV, Summit
Subordinated Debt Fund, L.P., Summit Partners SD, L.P., Summit E-Tek Holdings,
LLC, SW Management Corp., Summit Partners, L.P., Summit Master Company, LLC,
Summit Subordinated Debt Fund II, L.P., Summit Partners SD II, LLC, Summit
Ventures V, L.P., Summit Partners V, L.P., Summit Partners, LLC, Summit V
Advisors Fund, L.P., Summit V Advisors Fund (QP), L.P. and Summit V Companion
Fund, L.P., pursuant to sections 13 and 16 of the Securities Exchange Act of
1934, as amended (the "Exchange Act"), and any and all regulations promulgated
thereunder, and to file the same, with all exhibits thereto, and any other
documents in connection therewith, with the Securities and Exchange Commission,
and with any other entity when and if such is mandated by the Exchange Act or by
the By-laws of the National Association of Securities Dealers, granting unto
said attorney-in-fact and agent full power and authority to do and perform each
and every act and thing requisite and necessary fully to all intents and
purposes as she might or could do in person thereby ratifying and confirming all
that said attorney-in-fact and agent, or her substitute or substitutes, may
lawfully do or cause to be done by virtue hereof.
Page 23 of 34 Pages
<PAGE>
IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
7th day of February, 2000.
/s/ E. Roe Stamps, IV
-----------------------------
E. Roe Stamps, IV
Commonwealth of Massachusetts )
) ss:
County of Suffolk )
On this 7th day of February, 2000, before me personally came E. Roe
Stamps, IV, known to me to be the person described and who executed the
foregoing instrument that he acknowledged that he executed the same.
[Notary Seal]
/s/ Cynthia R. Freedman
-----------------------------
Notary Public
My Commission expires:
October 20, 2000
-----------------------------
Page 24 of 34 Pages
<PAGE>
IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
7th day of February, 2000.
/s/ Stephen G. Woodsum
-----------------------------
Stephen G. Woodsum
Commonwealth of Massachusetts )
) ss:
County of Suffolk )
On this 7th day of February, 2000, before me personally came Stephen G.
Woodsum, known to me to be the person described and who executed the foregoing
instrument that he acknowledged that he executed the same.
[Notary Seal]
/s/ Cynthia R. Freedman
-----------------------------
Notary Public
My Commission expires:
October 20, 2000
-----------------------------
Page 25 of 34 Pages
<PAGE>
IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
7th day of February, 2000.
/s/ Martin J. Mannion
-----------------------------
Martin J. Mannion
Commonwealth of Massachusetts )
) ss:
County of Suffolk )
On this 7th day of February, 2000, before me personally came Martin J.
Mannion, known to me to be the person described and who executed the foregoing
instrument that he acknowledged that he executed the same.
[Notary Seal]
/s/ Cynthia R. Freedman
-----------------------------
Notary Public
My Commission expires:
October 20, 2000
-----------------------------
Page 26 of 34 Pages
<PAGE>
IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
8th day of February, 2000.
/s/ Gregory M. Avis
-----------------------------
Gregory M. Avis
State of California )
) ss:
County of Santa Clara )
On this 8th day of February, 2000, before me personally came Gregory M.
Avis, known to me to be the person described and who executed the foregoing
instrument that he acknowledged that he executed the same.
[Notary Seal]
/s/ Cynthia R. Freedman
-----------------------------
Notary Public
My Commission expires:
October 20, 2000
-----------------------------
Page 27 of 34 Pages
<PAGE>
IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
7th day of February, 2000.
/s/ Thomas S. Roberts
-----------------------------
Thomas S. Roberts
Commonwealth of Massachusetts )
) ss:
County of Suffolk )
On this 7th day of February, 2000, before me personally came Thomas S.
Roberts, known to me to be the person described and who executed the foregoing
instrument that he acknowledged that he executed the same.
[Notary Seal]
/s/ Cynthia R. Freedman
-----------------------------
Notary Public
My Commission expires:
October 20, 2000
-----------------------------
Page 28 of 34 Pages
<PAGE>
IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
7th day of February, 2000.
/s/ Bruce R. Evans
-----------------------------
Bruce R. Evans
Commonwealth of Massachusetts )
) ss:
County of Suffolk )
On this 7th day of February, 2000, before me personally came Bruce R.
Evans, known to me to be the person described and who executed the foregoing
instrument that he acknowledged that he executed the same.
[Notary Seal]
/s/ Cynthia R. Freedman
-----------------------------
Notary Public
My Commission expires:
October 20, 2000
-----------------------------
Page 29 of 34 Pages
<PAGE>
IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
8th day of February, 2000.
/s/ Walter G. Kortschak
-----------------------------
Walter G. Kortschak
State of California )
) ss:
County of Santa Clara )
On this 8th day of February, 2000, before me personally came Walter G.
Kortschak, known to me to be the person described and who executed the foregoing
instrument that he acknowledged that he executed the same.
[Notary Seal]
/s/ Cynthia R. Freedman
-----------------------------
Notary Public
My Commission expires:
October 20, 2000
-----------------------------
Page 30 of 34 Pages
<PAGE>
IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
7th day of February, 2000.
/s/ Joseph F. Trustey
-----------------------------
Joseph F. Trustey
Commonwealth of Massachusetts )
) ss:
County of Suffolk )
On this 7th day of February, 2000, before me personally came Joseph F.
Trustey, known to me to be the person described and who executed the foregoing
instrument that he acknowledged that he executed the same.
[Notary Seal]
/s/ Cynthia R. Freedman
-----------------------------
Notary Public
My Commission expires:
October 20, 2000
-----------------------------
Page 31 of 34 Pages
<PAGE>
IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
7th day of February, 2000.
/s/ Kevin P. Mohan
-----------------------------
Kevin P. Mohan
Commonwealth of Massachusetts )
) ss:
County of Suffolk )
On this 7th day of February, 2000, before me personally came Kevin P.
Mohan, known to me to be the person described and who executed the foregoing
instrument that he acknowledged that he executed the same.
[Notary Seal]
/s/ Cynthia R. Freedman
-----------------------------
Notary Public
My Commission expires:
October 20, 2000
-----------------------------
Page 32 of 34 Pages
<PAGE>
IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
8th day of February, 2000.
/s/ Peter Y. Chung
-----------------------------
Peter Y. Chung
Commonwealth of Massachusetts )
) ss:
County of Suffolk )
On this 8th day of February, 2000, before me personally came Peter Y.
Chung, known to me to be the person described and who executed the foregoing
instrument that he acknowledged that he executed the same.
[Notary Seal]
/s/ Cynthia R. Freedman
-----------------------------
Notary Public
My Commission expires:
October 20, 2000
-----------------------------
Page 33 of 34 Pages
<PAGE>
IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
7th day of February, 2000.
/s/ Thomas F. Farb
-----------------------------
Thomas F. Farb
Commonwealth of Massachusetts )
) ss:
County of Suffolk )
On this 7th day of February, 2000, before me personally came Thomas F.
Farb, known to me to be the person described and who executed the foregoing
instrument that he acknowledged that he executed the same.
[Notary Seal]
/s/ Cynthia R. Freedman
-----------------------------
Notary Public
My Commission expires:
October 20, 2000
-----------------------------
Page 34 of 34 Pages
