Bitfone Appoints Hang Michael Xu to CFO Post; Xu Brings Solid Financial and Operational Experience to Bitfone.Business Editors/High-Tech Writers LAGUNA NIGUEL, Calif.--(BUSINESS WIRE)--March 3, 2003 Bitfone Corp. (www.bitfone.com), a leader in over-the-air firmware update technology for mobile phones, today announced that it has appointed Hang Michael Xu as chief financial officer. With more than a decade of international finance experience, Xu will further enhance Bitfone's profile within the financial community. "Hang is an invaluable addition to the Bitfone team," said Gene Wang, 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. of Bitfone. "Hang's successful history of working closely with the investment community provides yet another key fit for Bitfone. He will also bring an important international perspective as Bitfone expands globally. We are excited that he is assuming the role of CFO See Chief Financial Officer. ." Xu joins Bitfone from LinkAir Communications Inc. where he served as chief financial officer. At LinkAir, Xu raised close to $30 million in two rounds of financing, while co-managing the company's more than 160 employees and three offices in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and China. Prior to LinkAir, Xu was a vice president at The Carlyle Group where he pursued private-equity investments focusing on telecommunications. Xu joined The Carlyle Group after four years with Emerging Markets Partnership, a Washington D.C.-based private equity firm, and three years at Goldman Sachs in the Investment Banking Division. Xu holds an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration from the Wharton School of Business at the University of Pennsylvania (body, education) University of Pennsylvania - The home of ENIAC and Machiavelli. http://upenn.edu/. Address: Philadelphia, PA, USA. and a BA from Wesleyan University. About Bitfone Corp. Bitfone Corp. provides innovative software solutions for mobile device management. Bitfone's mProve(TM) is the wireless industry's leading technology that updates a mobile device's core embedded operating system An operating system used in special-purpose applications (embedded systems). Embedded operating systems are typically very compact and often designed for real time operations. See embedded Linux, QNX, OS-9, Windows XP Embedded, Windows CE, VxWorks and Symbian OS. , over-the-air in a secure and fault tolerant manner. mProve offers wireless manufacturers and carriers significant benefits, including the ability to reduce warranty, recall, and customer service costs, as well as enables the delivery of billable services and software. Bitfone is a global company with headquarters in Laguna Niguel, with offices in Japan and Korea. Bitfone's investors include Nokia Venture Partners, St. Paul Venture Capital, 3i, Nexit Ventures, CIR (Committed Information Rate) In a frame relay network, the average transmission rate in bits per second (typically Kbps) for a virtual circuit. It defines the maximum rate that the network can handle under normal conditions. Ventures and Orange Ventures. For more information, visit www.bitfone.com. |
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