Highly Regarded Finance Executive Joins as Company Prepares for a Possible IPO
SUNNYVALE, California – MobilityWire® – January 26, 2011
RGB Networks, the leader in high-capacity three screen video delivery solutions, today announced that Christopher B. Paisley, a veteran financial executive and currently the Dean’s Executive Professor of Accounting and Finance at Santa Clara University’s Leavey School of Business, has joined the company’s board of directors.
“Chris’ experience as a CFO, academic, board member and head of several audit committees, makes him a wonderful addition to our board of directors,” said Jef Graham, CEO of RGB Networks. “RGB had a banner 2010 and by the end of this year, we hope to be capable of going public. Chris will not only bring his expertise to our board, but also fulfill the critical IPO position of head of our Audit Committee. Recruiting someone of Chris’ stature and experience is an important milestone we had to achieve in pursuit of our IPO goal.”
RGB achieved record growth in 2010 with a 60 percent increase in shipments over 2009 and was profitable in the year. The company ended 2010 with record backlog and experienced positive cash flow from operations, due in large part to the success of the company’s solutions that enable video service providers to deliver TV Everywhere services to all three screens – TVs, PCs and mobile devices.
“This is an exciting time to be joining RGB’s board as the company is poised to further expand its leadership position in the growing three screen video market,” said Paisley. “RGB is in the right place, at the right time and with the right solution.”
Before entering academia, Paisley worked at a variety of successful high tech companies, including 3Com and Hewlett-Packard. During his 15 year tenure as 3Com’s CFO, the company grew substantially from $50 million in annual sales to nearly $6 billion. He is a member of the Financial Executives Institute and has been on the boards – and audit committees – of 13 companies, including 3Par, Applied Digital Access, Aspect Telecommunications, Brocade, Electronics for Imaging, Legato Systems, Persistence Software, Riverstone Networks, Silicon Image and WJ Communications. Paisley currently serves on the boards and audit committees of Equinix, Fortinet and Volterra, in addition to serving as Voterra’s Chairman of the Board.
TV Everywhere is fast becoming a reality as service providers are racing to deliver video to PCs and mobile devices with the same quality as they do to televisions. One of the keys to delivering a commercial-grade TV Everywhere service that offers both live and on-demand programming is the real-time transcoding of video content into thousands of individual video streams optimized for TVs, PCs and mobile devices. Accomplishing this in an easily scalable and cost-effective manner is precisely what RGB has focused on in the development of its comprehensive three screen offering.
About RGB Networks
RGB Networks enables video service providers to migrate to a three screen environment for the delivery of linear and on-demand video over managed and unmanaged IP networks. The company’s success is based on core strengths in transcoding, advertising and overlay insertion, ultra-dense modulation and statistical multiplexing. RGB’s solutions for video delivery to TVs, desktop and mobile devices are built to deliver the highest video quality at the best price-performance on the market—they uniquely offer the density and scalability required to support the growing demands of consumers with integrated functionality that simplifies operators’ network architectures and minimizes operational costs. RGB’s products are deployed by over 200 cable, telco, satellite, OTT and mobile operators in 30+ countries. Backed by principal investors Accel Partners, Kleiner Perkins Kaufield and Byers, and Comcast Interactive, RGB is a private, profitable company based in Sunnyvale, California with offices around the world. For more information, please visit www.rgbnetworks.com.
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