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DAILY NEWS AND INFORMATION
FOR THE GLOBAL GRID COMMUNITY /
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Systems/Enterprise:
PLATFORM COMPUTING APPOINTS PAUL
MCFEETERS AS CFO
Platform Computing Inc announced that it has appointed Paul McFeeters as
chief
financial officer. In this position, McFeeters will align the company's
corporate structure and management processes with the continued acceleration
of Platform's growth and profitability. Founded in 1992, Platform is a
private, entirely self-funded company with revenues of over $50 million and 12
consecutive years of profitability.
Most recently, McFeeters held the position of CFO at Kintana Inc, a
privately-held IT governance software provider. While at Kintana, McFeeters
led all accounting, financing, facilities, forecasting and investor relations
functions, and played a key role in leading the company's operations to growth
and profitability, including securing venture capital funding. Kintana was
acquired by application delivery and management software vendor Mercury
Interactive in June 2003 for $225 million.
"With an established base of 1,600 customers worldwide, strong partner
relationships, a proven set of products, 12 years of organic growth and a
rapidly expanding market, Platform is in a very strong competitive position,"
said McFeeters. "We believe there is an enormous opportunity for increased
profitability as Grid computing technology continues its evolution into the
business computing marketplace, as evidenced by Platform clients such as AMD,
Bristol-Myers Squibb, DaimlerChrysler and JPMorgan Chase."
Web services, utility computing, .NET, CPU harvesting and distributed
computing are just a few of the technologies that fall under the Grid
computing umbrella. Gt04 -- a premiere enterprise Grid computing conference
targeting industrial and commercial users -- will gather experts, and outline
strategies and road maps for Grid deployment. For more information, visit
www.gt04.com.
Grid computing is here!
"Paul brings broad expertise and a successful track record in managing
acquisitions, growth, debt and equity financing, asset management, finance and
capital markets," said Songnian Zhou, CEO and chairman of Platform Computing.
"He is a key addition to our senior leadership team and gives us the
flexibility to explore new long-term growth opportunities."
McFeeters' extensive career includes completing five public offerings,
establishing a planning discipline within entrepreneurial high-growth
companies, managing investor relations, performing due diligence on
acquisition opportunities and negotiating numerous financial lines.
Prior to joining Kintana, McFeeters held various executive management
positions, including president and CEO of MD Private Trust, a Canadian Federal
Trust Company, as well as CEO, CFO and COO for Municipal Financial Corp.
McFeeters holds an MBA from York University in Toronto, a BBA from Wilfrid
Laurier University in Waterloo, Ontario, and is a Certified Management
Accountant.
According to industry estimates, the Grid computing marketplace is expected
to
grow to $4.9 billion by 2008. Meta Group believes the value of Grid computing
is catching on in business. Although fewer than 5 percent of the world's
largest companies have some Grid capability now, they expect that number to
double every year for the next four years.
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