Covergence Names Bob O'Neil President and CEO.MAYNARD, Mass. -- Covergence, innovators of a ground-breaking real-time services and applications management solution, today announced it has named networking industry veteran, Bob O'Neil, 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. . With more than 20 years of experience, O'Neil will set the company's strategic direction and its operational execution, assuming immediate responsibility for guiding Covergence's go-to-market activities. "Covergence is a great company with a truly powerful solution that will help to make real time applications and services a reality for both the enterprise and service provider markets," said O'Neil. "The entire Covergence team has done an excellent job focusing on solving the problems that are slowing mass adoption of IP-based real-time applications and services such as VoIP, video and audio conferencing See audioconferencing. , and shared workspaces. I look forward to helping the company execute its strategy of securely connecting users to managed real-time applications and services, launching the company this fall, and meeting our growth targets for the year ahead." A seasoned executive and investor in the technology community, O'Neil has served as General Manager of the Data Networking Group at Ciena Corporation Ciena Corporation NASDAQ: CIEN develops and markets communications network platforms and software, and offers professional services. The Company's broadband access, data and optical networking platforms, software tools, and global network services support worldwide telecom , a company he joined following its acquisition of WaveSmith Networks, where he was Vice President of Sales. He also spent two years with Bessemer Venture Partners Bessemer Venture Partners is a private venture capital firm with offices in Silicon Valley, New York, Massachusetts, China, and India. It has backed such companies as Ciena, Flarion, Parametric Technologies, Skype, Staples, VeriSign and Veritas. as a venture partner specializing in communications, and representing the firm on the boards of several portfolio companies, as well as identifying new investment opportunities. From 1992 to 2000, he worked in sales management Sales Management Role and Goal Importance of sales management is critical for any commercial organization. Expanding business in not possible without increasing sales volumes, and effective sales management goal is to organize sales team work in such a manner that ensures a capacities at Cascade Communications Cascade Communications was a Westford, Massachusetts based manufacturer of communications equipment. Founding Cascade was founded by Desh Deshpande in 1990, and was led by CEO Dan Smith. Product Cascade made a compact Frame Relay system. and Aptis Communications, which were acquired by Lucent Technologies and Nortel Networks (Nortel Networks Limited, Brampton, Ontario, www.nortelnetworks.com) A world leader in telecommunications products, which includes switching, wireless and broadband systems for service providers and carriers, telephones and systems for residential and business users, computer telephony respectively. "There's no doubt that Bob is the right fit for our organization, and I have the utmost confidence that his 20 years' experience, leadership track record, and business acumen will lead us to success," said Kenneth Kuenzel, co-founder, vice president of engineering, and CTO (Chief Technical Officer) The executive responsible for the technical direction of an organization. See CIO and salary survey. , of Covergence. "Our solution is an elegant answer to a complicated problem, and Bob is a big advantage for our company as we enter the market." Covergence also announced it received a second round of funding to expand its sales, marketing and business development initiatives (see related release "Covergence Secures $10 Million in Funding.") The company expects its solution, now in evaluation trials, to be generally available in Q3 2005. For more information about the company's solution or the early adopter program please contact Covergence at 978-823-5200 or visit the company's Web site at www.covergence.com. About Covergence Founded in 2003, Covergence is developing a ground-breaking real-time services and applications management solution for enterprises and service providers. Comprised of a team of industry veterans that have worked in the networking industries for the past 20 years, the company's product line spans the needs of the Fortune 2000 up to the most demanding service provider requirements. Based near Boston, Covergence is funded by Highland Capital Partners Highland Capital Partners is a global venture capital firm with offices located in Boston, Silicon Valley, Geneva, and Shanghai. Since its inception in 1988, the firm has invested in more than 180 early and growth stage companies and taken a sector-focused approach to investing in and North Bridge Ventures. For more information visit: www.covergence.com |
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