CityReach International Appoints Former IBM Executive As Chief Executive Officer.Business Editors/High Technology Writers LONDON--(BUSINESS WIRE)--Sept. 18, 2000 CityReach International, the European internet infrastructure and services group with US headquarters in Fort Lauderdale Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla., today announced the appointment of Dr. Sanjaya Addanki as chief executive officer. Dr. Addanki, 43, joins CityReach from IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) where he was Vice President responsible for IBM's e-Hosting services in Europe, the Middle East and Africa Europe, the Middle East and Africa, usually abbreviated to EMEA, is a regional designation used for government, marketing and business purposes. It is particularly common amongst North American based companies, who often divide their international operations into the . At IBM, he was responsible for building a high-growth business driving significant increases in market share and recognition for IBM in the e-Hosting arena. In an earlier role, he led the creation of the global strategic plan for this business. Dr. Addanki spent 16 years at IBM. Early in his career, he was with the Thomas J. Watson Research Center The Thomas J. Watson Research Center is the headquarters for the IBM Research Division. The center is on three sites, with the main laboratory in Yorktown Heights, New York, 45 miles north of New York City, a building in Hawthorne, New York, and offices in Cambridge, in Yorktown Heights, N.Y., where he was responsible for many advanced technology projects in artificial intelligence, multimedia, and the Internet. He also held executive positions responsible for building and re-directing several advanced technology groups and businesses. These included assignments as CIO CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. of the IBM Research IBM Research, a division of IBM, is a research and advanced development organization and currently consists of eight locations throughout the world and hundreds of projects. Division, Director of Advanced Industry Solutions focusing on driving advanced technologies to solve customer business problems, General Manager e-Business solutions sales for Europe, Middle East and Africa, and Vice-President, Global Sales for Notes and Collaboration Solutions. CityReach is one of the leading European firms providing connectivity, infrastructure and services to companies using the Internet. It does so through Secure Internet eXchanges (SiXs). CityReach will have eight SiXs operational by year-end and 20 in total by the end of 2001. The main investors in CityReach are Battery Ventures, Chase Capital Partners, M/C M/C Machine (mechanical engineering) M/C Motorcycle M/C Miscarriage M/C Multiple Choice M/C Maitre de Cabine Venture Partners and Investcorp. Earlier this month CityReach completed a third round funding raising $155 million. The company had previously completed equity funding Equity funding An investment consisting of a life insurance policy and a mutual fund. The insurance policy is paid by the collateral value of fund shares, giving the investor the advantages of insurance protection with the growth potential of a mutual fund. of $46 million and secured a senior credit facility of $124 million in July. Dr. Addanki said, "I am delighted to be joining CityReach, a company with a strong management team, an outstanding set of products and services targeting critical market needs and excellent prospects in a business area that will expand rapidly in importance with the growth of the internet." Ralph O'Dell, CityReach COO and co-founder, said: "We are thrilled to be joined by such a high caliber executive. Sanjaya is joining at an exciting time for CityReach -- we are well funded and have ambitious plans for the company. The skills he has in growing businesses, and in the Internet hosting technology and market spaces, will be invaluable to CityReach as we pursue our aggressive roll-out strategy over the next eighteen months." |
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