RSA Security's Arthur Coviello Brings Seasoned Leadership and Security Market
Expertise to Help Crossbeam Accelerate Revenue Growth in 2005
SAN FRANCISCO, RSA CONFERENCE, BOOTH #102, Feb. 16 /PRNewswire/ --
Crossbeam Systems(R) Inc., the leader in protecting the world's largest
networks, today announced that it beat all of its business targets for 2004,
including adding more than 200 new customers and recording its third
consecutive year of doubling revenue. The company also announced that it has
named Arthur Coviello, Jr., prgsident and CEO of RSA Security, to its board of
directors.
As the pioneer of integrated, best-of-breed security devices, Crossbeam
capitalized on the increase in security spending and rapid market shift away
from single function security appliances in 2004 and completed a record
financial year. Notable accomplishments include:
* Achieving 111 percent year-over-year revenue growth, making 2004 the
third consecutive year in which Crossbeam more than doubled its revenue
* Signing on more than 200 new customers, including major enterprises such
as British Petroleum, United Airlines and Qualcomm, bringing
Crossbeam's total customer base to 455 customers
* Increasing international sales, with overseas sales accounting for 50
percent of revenue
* Earning 60 percent of its revenue from service providers, including two
of the top three RBoCs, five of the top 10 PTTs in Europe and five of
the top 10 wireless operators in Europe
"From powering an RBOC's managed firewall service to protecting the
transactions of a multi-national financial services powerhouse, global blue
chip companies increasingly turn to Crossbeam as the trusted source for large,
integrated security solutions," said Peter George, president and CEO of
Crossbeam Systems. "As we look to build on our momentum in 2005, Art's
security expertise and experience in taking successful growth companies to
market leaders will be a real asset for expanding Crossbeam's business."
Over the last 10 years, Mr. Coviello has helped RSA Security become one of
the leaders in information security, growing its revenue 10-fold in eight
years. On the board of directors, he will advise Crossbeam as the company
looks to build similar revenue growth.
"Crossbeam provides tremendous value to enterprises and service providers
by allowing them to improve network security while lowering their capital and
operational costs through network consolidation," said Mr. Coviello. "I look
forward to joining Crossbeam's board of directors and helping the company
extend its reach into new markets."
Mr. Coviello joined RSA Security in 1995, helping the company increase
revenue from $25 million in 1995 to more than $305 million in 2004. Before
joining RSA Security, he served as chief operating officer for CrossComm
Corporation, an internetworking vendor. He has also held various finance and
management positions in graphics software and semiconductor equipment
companies. In addition, he has served on numerous outside boards of directors.
He began his career at Deloitte & Touche as a CPA, and graduated magna cum
laude from the University of Massachusetts.
About Crossbeam Systems
Crossbeam Systems is a global growth company that pioneered the integrated
security device market and is the leader in protecting the world's largest
networks. The company has tailored security solutions for global
corporations, carrier networks and small to medium-sized enterprises. Founded
in early 2000 and led by senior executives from Bay Networks, Cisco,
Nortel/Wellfleet and Alcatel, Crossbeam is headquartered in Concord,
Massachusetts, USA, and has offices in Europe and Asia Pacific. The company
is backed by top-tier investors including Tudor Ventures, Matrix Partners,
North Bridge Venture Partners, Commonwealth Capital Venture Partners, Intel
Capital and Charles River Ventures. More information is available at
http://www.crossbeamsystems.com.
Crossbeam Systems and Crossbeam are registered trademarks of Crossbeam
Systems, Inc. All other company, product or service names not owned by
Crossbeam mentioned in this press release are the property of their respective
owners.
Contact:
Kathy Healy Sucich
SparkSource, Inc.
(781) 274-6061 ext. 209
ksucich@sparksource.com
SOURCE Crossbeam Systems(R) Inc.
 back to top
Related links:
http://www.crossbeamsystems.com
CONTACT:
Kathy Healy Sucich of SparkSource, Inc.,
+1-781-274-6061 ext. 209, ksucich@sparksource.com
|
