Allayer Communications Appoints Gordon M. Steel As Chief Financial Officer and Completes a New Round of Funding.Business Editors/High-Tech Writers SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE) Aug. 15, 2000 - New CFO See Chief Financial Officer. brings more than 15 years of financial management experience in the semiconductor industry Optical networking Communications between computers, telephones and other electronic devices using light. An optical network is far more reliable and has far greater potential transmission capacity than networking in the electrical domain. See optical fiber. IC provider Allayer Communications today announced the appointment of Gordon Steel to the newly created post of Chief Financial Officer, effective immediately. Steel has more than 15 years of semiconductor industry financial management experience. Steel has an excellent record of achievement in the semiconductor industry. Previously, he was Vice President of Finance for Marvell Technology Group Marvell (NASDAQ: MRVL) is an American producer of storage, communications and consumer semiconductor products. Their products can be found in a range of applications:
Prior to Marvell, Steel served for 11 years as Sr. Vice President of Finance for Xilinx Inc., where he participated in raising private financing for the company, in implementing an initial public offering, and completing a $250 million subordinated convertible debenture Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. . While Steel was at Xilinx, the company was recognized as one of the two best financially managed U.S.-based semiconductor companies an unprecedented five times by In-Stat, a consulting firm focused on the semiconductor industry. Steel holds a MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration degree in Finance from the Stanford Graduate School of Business The Stanford Graduate School of Business (also known as Stanford Business School or Stanford GSB) is one of the professional schools of Stanford University, in Stanford, California. It is one of the leading business schools in the United States. , and a BA in Economics from Pomona College. New Round of Funding In conjunction with the addition of a new CFO, Allayer Communications today announced that it raised an additional $12.4 million from several corporate investors. This brings the total investment in Allayer to $24.9 million. According to Mohan Maheswaran, vice president of marketing at Allayer, "This new investment will enable Allayer to complete its market leading portfolio of 10-Gigabit products targeted at Enterprise and Optical Networking applications. The Gigabit Ethernet and 10-Gigabit Ethernet switch market segments are two of the fastest growing segments in the communications market and Allayer is well positioned to lead both markets." View the full press release at: www.allayer.com/pressrel001814B.html. About Allayer Allayer Communications is a leading producer of high bandwidth network ICs for the enterprise and optical network. The company develops scalable network architectures and mixed-signal switching and routing ICs for the Gigabit/Fast Ethernet and optical network markets. For more information please call 408/570-0888 or visit www.allayer.com. |
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