Extricom Announces Strategic Realignment for 2009
Extricom has announced that it has bolstered its executive management team with two new appointments, Phil Belanger, VP of Marketing and Business Development, and Yaron Hermeche, CFO. Extricom also announced that it has closed a new round of financing that was led by existing investors Magma Venture Partners and Vertex Venture Capital.
Extricom also announced that it has closed a new round of financing that was led by existing investors Magma Venture Partners and Vertex Venture Capital, ensuring that Extricom is well funded for the demands of 2009 and beyond.
"It's no secret that the enterprise technology market in 2009 will be very challenging given the current economic climate", stated Gideon Rottem, Extricom’s CEO. "However, our unique wireless LAN infrastructure delivers value today and can help companies achieve real cost-savings and ROI in the face of very tight IT budgets. We believe this will resonate well with customers and enable Extricom to increase market share."
Rottem concludes, "Our investors continue to demonstrate confidence and commitment to Extricom through this recent funding; and the additional experience, skills and expertise of industry veterans Belanger and Hermeche will strengthen the company further."
"Extricom has shown progressive growth and its technology has gained traction in the market place," stated Modi Rosen, Managing Partner for Magma Venture Partners. "We believe the company is positioned well, and the new executive appointments will build on Extricom’s core strength and guide the business towards financial independence."
"This is an exciting time to be in the wireless industry," said Belanger, VP Marketing and Business Development. "We are at the beginning of a huge expansion based on the new capabilities enabled by the 802.11n standard. Extricom's unique Channel Blanket architecture is a perfect complement to 11n that solves real world business challenges in the enterprise. I'm looking forward to helping refine and position this industry-leading technology."
Hermeche, CFO for Extricom, adds; "In today’s economy, internal financial discipline is as important for technology companies as the product they sell. To this end, we are focused on becoming self-sufficient as part of a business strategy of stable, controlled, and continuous growth for the long-term."
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