Ashtech Inc. names Chuck Boesenberg president CEO; Central Point, Symantec veteran to lead management team; announces record 1994 sales of $31.8 million.

SUNNYVALE, Calif.--(BUSINESS WIRE)--Jan. 17, 1995--Ashtech Inc., the leader in high precision applications using Global Positioning Systems (GPS) technology, Tuesday announced the appointment of computer industry veteran Charles M. Boesenberg, age 46, as president and chief executive officer.

He replaces founder and former president Javad Ashjaee, who remains a member of the board and president of the firm's Moscow research and development center, reporting to Boesenberg.

Ashtech also announced today it completed calendar year 1994 with sales of $31.8 million, roughly 45 percent more than 1993's sales of $22 million.

Boesenberg was most recently executive vice president of Symantec Corp. in charge of the Central Point Software Division. From February 1992 until its merger with Symantec in June 1994, he was president, CEO and chairman of the board of Central Point Software, a $90 million manufacturer of desktop and network computer utility software.

He was retained by Symantec through the integration of the two companies and remains a member of the Symantec board of directors.

Prior to joining Central Point, Boesenberg was president of MIPS Computer Systems Inc., in Sunnyvale, where he grew the firm's business from $40 million per year to $150 million per year prior to merging with Silicon Graphics.

During his tenure, MIPS completed a very successful initial public offering, which raised $80 million. Chuck joined MIPS from Apple Computer, where he was senior vice president managing a sales and marketing force of over 2,000 people which more than doubled sales from $1.4 billion to over $2.8 billion in less than two years.

"I am delighted to join Ashtech for the next phase of its growth," Boesenberg said. "Javad Ashjaee has done an outstanding job developing the technology for high precision GPS applications, and identifying the products needed for those applications. I am convinced Ashtech is at the forefront of a market poised for extraordinary growth.

"My immediate focus will be on improving sales and marketing efforts and to help move our products into emerging markets."

Bill Bottoms, Ashtech chairman, said: "We're very fortunate to have Chuck Boesenberg leading our company into its next growth phase. His demonstrated experience at Central Point, MIPS and Apple is very impressive, and we look forward to him moving Ashtech into new growth markets."

The leadership change at Ashtech comes one month after the privately held firm announced a change in the major shareholders of the firm. Patricof & Co. Ventures Inc., a New York-based venture capital firm, bought the interest held by SAGEM, a large French conglomerate, for $14.5 million. Bill Bottoms, senior vice president and general partner of Patricof, became Ashtech's chairman of the board.

Ashtech's GPS receivers and systems provide users with precise positioning measurements for use in surveying, navigation and orientation applications. The GPS system was declared operational in early 1994 with 24 satellites providing worldwide 24 hour coverage for three-dimensional position, velocity and time data.

The United States GPS Industry council estimated the market in 1994 for GPS receivers at $600 million. By the year 2000, technological advances and an increase in potential applications is expected to grow the market to between $5-6 billion.

The company's Z-12 receiver, and post-processing GPS software, is the market's only product which has "Z-tracking" capability, providing the extreme precision required in geodetic survey and high-precision navigation applications. Ashtech has won several high-precision GPS receiver contracts, including the Mexican Land Reform project and the Japan Crustal Deformation/Monitoring Project.

Recently, the United States Coast Guard awarded Ashtech a contract to provide the agency with reference stations that will furnish differential GPS data for harbor navigation with one to five meter accuracy and very precise measurement data for geodetic surveyors, with an accuracy of one to two centimeters.

Ashtech Inc. was incorporated in 1987 to manufacture and market Global Positioning Systems (GPS) receiver systems and related subsystems. The company currently manufactures systems which utilize Navstar satellites to determine position and time information for users worldwide.

Ashtech is headquartered in Sunnyvale and maintains a European sales office in Oxford, England, as well as research and development facilities in Moscow. More than 60 international and domestic dealers represent Ashtech products worldwide. Ashtech's main number is 408/524-1400.

CONTACT: Ashtech Inc.

Sally Kenvin, 408/524-1460, [e-mail]

or

Wilson McHenry Co.

Lerry Wilson or Marla Kertzman, 416/638-3400

[e-mail]