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Millennial Net Names Board Member Neil Ferris Executive Chairman, Appoints Terry Halloran President
Changes Come on the Heels of Record Growth and Shipments
Burlington, Mass. – May 19, 2005 – Millennial Net, the leading developer of self-organizing, wireless sensor networking systems, announced today that Neil Ferris has been named executive chairman of Millennial Net and Terry Halloran has been appointed president.
Ferris has been an active member of the company’s board for the past two years and will now assume the role of executive chairman to continue to expand and accelerate Millennial Net’s strategy and corporate development. Halloran will oversee the day-to-day operations of the company. In conjunction with these appointments, the company also announced the departure of CEO Andy May.
"We’re very pleased and fortunate to have an executive of Neil’s caliber—with a strong track record for building successful companies—to lead our efforts during this phase of Millennial Net’s growth," said Terry Halloran, "Neil and I will work closely together with the rest of the management team to fuel our continuing momentum. Millennial Net has achieved record growth in the number of customers, installed networks and units shipped, and it is our intention to add to this list of achievements and position the company for future growth opportunities."
Neil Ferris is a veteran in the high-technology field with over 25 years of leadership experience in growing and establishing entrepreneurial companies. During his career, Ferris has held the top post at several companies and has overseen a number of successful mergers including Novell's acquisition of Fluent, the merger of Netscheme Solutions with Actuate Software, and the acquisition of Giganet by Emulex Corporation for an estimated $650 million. Earlier in his career he was a member of the founding team of both Data General and Apollo Computer and played critical roles in the scaling and growth of both companies.
Terry Halloran has over 20 years of experience with entrepreneurial companies in the computer industry. Prior to joining Millennial Net, Halloran was chief financial officer of ExaGrid Systems where he was responsible for all aspects of the company's financial and operations management. Previously, Halloran was the vice president of finance and administration and chief financial officer at HighGround Systems, Inc. where he raised over $50 million in capital as well as architecting the $400 million sales of the company to Sun Microsystems, Inc.
About Millennial Net
Millennial Net develops commercial- and industrial-class wireless sensor networking systems that enable OEMs and systems integrators to quickly and cost-effectively implement wireless sensor networks. These networks enable the remote monitoring and management of critical devices while providing data to enable more informed decision-making, better control and increased revenue opportunities. Millennial Net's patented ad hoc, self-organizing wireless sensor networking MeshScape™ system leads the industry in power efficiency, support for dynamic systems and mobile sensors, reliability, and scalability. Millennial Net also leads the industry in real-world deployments with networks installed across commercial building and industrial environments. Millennial Net is backed by top-tier venture firms and is headquartered in Burlington, MA. For more information, visit www.millennialnet.com.
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