Millennial Net Names Andy May Chief Executive Officer
Networking Industry Expert to Lead Corporate Growth Initiatives
CAMBRIDGE, Mass. – Oct. 7, 2003 – Millennial Net, Inc., the leading developer of hardware and software for self-organizing, wireless sensor networks, today announced the appointment of Andy May as chief executive officer. May assumes chief executive responsibilities from Millennial Net co-founder Tod Riedel, who was previously serving as acting president. Riedel was named vice president of business development and marketing.
"Andy is a seasoned CEO with impeccable credentials and experience growing emerging technology companies with strong balance sheets," said John Simon, managing director, General Catalyst Partners, a Millennial Net investor. "With extensive domain expertise in the networking industry, Andy is an incredible asset to the company and will propel Millennial Net in its mission to capitalize on the growing demand for wireless sensor networking solutions."
With more than 20 years' experience in the networking industry, most recently as chief executive officer of Paradyne Corporation, May will lead Millennial Net's corporate growth initiatives. During his tenure as CEO of Paradyne, May successfully created and capitalized on opportunities in the emerging DSL and frame relay marketplaces by re-focusing product and marketing strategies. An accomplished executive with experience navigating public and private financial markets, May is also credited with leading the turnaround of the company in 1996 after it was taken private through a leveraged buyout from AT&T and went on to lead the company through a successful IPO in 1999. Under May's guidance, Paradyne grew to generate annual revenues of $200 million.
A networking technology industry veteran with experience across all organizational disciplines, May also served as vice president and general manager of 3Com's Network Service Provider Division before joining Paradyne. Prior to 3Com, May was vice president of marketing for Primary Access Corporation, which pioneered digital modem systems for high-speed dial-up access and credit card transaction processing and was sold to 3Com in 1995. Earlier in his career, May spent eight years at CompuServe in its Network Services Division, where he held a variety of key sales and marketing positions.
"Millennial Net presented the opportunity to shape and seize one of the hottest new markets in the networking industry," said May. "I was drawn here by a very strong executive team, an industry-leading technology and a group of world-class investors. Millennial Net has all the components of a company poised for breakout growth and market dominance."
"The entire management team at Millennial Net was actively involved in the extensive search for a chief executive officer, and we are extremely pleased with the results," said Riedel. "Andy is an important addition as we expand our reach and realize our vision of a world networked by tiny wireless sensors powered by Millennial Net."
Millennial Net recently launched the latest version of its ultra-small, ultra-low power wireless sensor networking device, the i-Bean 5000. The company has already received industry accolades for its technology, including winning a Best of Sensors Award at Sensors Expo 2003. Millennial Net will be demonstrating its i-Bean technology at ISA Expo 2003, Oct. 21-23, 2003, in Houston. Millennial Net can be located at booth #1228.
About Millennial Net
Millennial Net, Inc., produces hardware and software to build reliable, low-power wireless sensor networks. Millennial Net’s tiny, micro-power network elements, called i-Beans®, are used in industrial automation, building automation, supply chain management, automatic meter reading, security, homeland defense and other low-power, low data-rate applications. Millennial Net was founded on the vision that an i-Bean-enabled world is a safer, more convenient and more productive world. Millennial Net is the leader in ultra-small, ultra-low power wireless computing devices in self-organizing networks for the consumer, industrial, medical and military markets. For more information, visit www.millennial.net.