APX Names Dan Steimle Chief Financial Officer; Steimle Brings Exceptional Track Record in Fundraising and Financial Strategy.Business Editors SANTA CLARA, Calif.--(BUSINESS WIRE)--Aug. 6, 2002 APX APX Approximately APX ascorbate peroxidase APX Amsterdam Power Exchange APX Automated Power Exchange APX Alt Preset Extreme (MP3 encoding preset) APX Average Page Exposure APX Ateliers de Puteaux APX Airborne Radar Transponder , a provider of transaction processing services for the electric power industry, today announced that Dan Steimle has joined the company as vice president and chief financial officer (CFO See Chief Financial Officer. ). Steimle's 15-year career as a CFO has spanned the telecommunications, broadband, microprocessor, and operating system sectors. His accomplishments include completing three initial public offerings (IPOs), managing six financing rounds for privately held companies, managing and negotiating five acquisitions, and achieving sustained profitability for several established companies. "Dan brings to APX impressive credentials and an exceptional track record both in securing the funding needed to back successful enterprises and in directing the ongoing financial foundation of established businesses," said John Yurkanin, APX president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "The APX business model already has proven itself, as evidenced by its rapid adoption by the power industry," noted Steimle. "I look forward to increasing the company's financial strength and bringing the shareholder value proposition in step with the customer value proposition." Totalling more than $200 million, financing rounds managed by Steimle have included $20 million in Series E financing in 2001 for LGC Wireless, a wireless infrastructure equipment supplier based in San Jose, Calif., and more than $150 million in Series F and G financing in 1999 and 2000 for Transmeta Corp. (Nasdaq:TMTA TMTA Transmeta (stock symbol) TMTA Texas Music Teachers Association TMTA Tennessee Mathematics Teachers Association TMTA Truro Morlaix Twinning Association (UK) ), a microprocessor developer based in Santa Clara, Calif. The IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. of Advanced Fibre Communications Inc. (Nasdaq:AFCI AFCI Association of Film Commissioners International AFCI Arc Fault Circuit Interrupter AFCI Advanced Fibre Communications, Inc AFCI Acupuncture Foundation of Canada Institute (Institut de la Fondation d'Acupuncture du Canada) ), a telephony equipment manufacturer in Petaluma, Calif., completed by Steimle in 1996, raised more than $125 million, which supported further company growth. He also served as CFO for Hybrid Networks Inc., The Santa Cruz Operation See SCO. Santa Cruz Operation - (SCO) A supplier of Unix systems for Intel microprocessors. They supply Xenix and Open Desktop. Founded in 1979, SCO became a public company in May, 1993 and trades on the Nasdaq National Market System under the symbol SCOC. Inc., and Cipher Data Products Inc., a computer backup device manufacturer based in San Diego, Calif., and has held financial management positions with Mentor Graphics Corp., Aerojet General Corp., Cobe Laboratories Inc., Arthur Anderson & Co., and the U.S. Air Force Audit Agency. Steimle holds an M.B.A. degree in management and marketing from the University of Cincinnati The University of Cincinnati is a coeducational public research university in Cincinnati, Ohio. Ranked as one of America’s top 25 public research universities and in the top 50 of all American research universities,[2] in Cincinnati, Ohio, and a B.S. degree in accounting from Ohio State University Ohio State University, main campus at Columbus; land-grant and state supported; coeducational; chartered 1870, opened 1873 as Ohio Agricultural and Mechanical College, renamed 1878. There are also campuses at Lima, Mansfield, Marion, and Newark. in Columbus, Ohio. He was first certified as a public accountant in 1974. About APX Inc.: An independent transaction processing agent for wholesale electric power markets, APX processes approximately 700 million megawatt hours per year for approximately 200 client companies in North America and Europe. Services include trading platforms and brokerages, scheduling, clearing, settlement, demand response, and generation information. A privately held company, APX has its main office in Santa Clara, Calif., and regional offices in: Middletown, Conn.; Houston, Texas; London, England; Long Beach, Calif.; Oslo, Norway; and Stavanger, Norway. More information is available at www.apx.com. |
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