Ian Bonner Joins Commtouch As Executive Chairman
Former IBM Exec and Recent President and CEO of Red Hat-acquired Sistina Software Brings to Commtouch Proven Track Record of Growing Companies to be Industry Leaders
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--June 15, 2004--
Commtouch(R) (Nasdaq:CTCH), innovator of anti-spam solutions featuring Recurrent Pattern Detection (RPD)(TM) technology, announced today that Ian Bonner has joined the company as executive chairman of the Commtouch Board of Directors. In his new capacity, Mr. Bonner brings 27 years of technology leadership experience, including nearly a decade with IBM (NYSE:IBM) and leading the successful growth of Sistina Software and its subsequent acquisition by RedHat (Nasdaq:RHAT) in 2003, as well as the successful acquisition of Terraspring by Sun Microsystems (Nasdaq:SUNW) in 2002.
In addition to Bonner's responsibilities as executive chairman of the board, he will counsel the company on matters pertaining specifically to business development and strategic initiatives of the company. Bonner replaces Carolyn Chin as Commtouch Chairman of the Board. Ms. Chin continues to serve as a member of the Commtouch Board of Directors.
"Commtouch Recurrent Pattern Detection (RPD) technology is the market leading approach to fighting spam at the enterprise and ISP level," said Bonner. "I am joining the Board at an exciting time and look forward to being able to assist in the company's continued rapid growth in both customer acquisition and revenue. We will continue to focus on leveraging the value of the RPD technology with security and messaging OEMs, enhancing existing business relationships with the world's most successful resellers, VARs (value-added resellers) and SIs (system integrators)."
Commtouch CEO Gideon Mantel thanked Ms. Chin, who joined the Commtouch Board of Directors in 2000 and was named chairman of the board in May of 2001, and also welcomed Bonner's addition as executive chairman of the Commtouch Board of Directors. "Carolyn, who also has IBM roots, has provided Commtouch outstanding service and will continue to serve the company as a member of the Board of Directors," said Mantel. "Ian's track record speaks for itself in his ability to combine strategic tactics with a cohesive vision to grow companies and lead them to superior positions within their industries. Ian clearly has the capability, experience and determination to take Commtouch to the next level."
Bonner's appointment to the Board of Directors will be brought before the company's shareholders for approval.
About Commtouch
Commtouch Software Ltd. is a global developer and provider of proprietary anti-spam solutions featuring Recurrent Pattern Detection (RPD) (TM) technology. Its mission is to protect and preserve the integrity of the world's most important communications tool -- email. The company's core technologies reflect its 13 years of experience as a leading vendor of email software applications and provider of global messaging services. Commtouch's patent-pending technologies are employed in solutions that are sold through channels and resellers. In addition, Commtouch anti-spam technologies are incorporated in software applications of security and messaging OEMs. Commtouch is headquartered in Netanya, Israel and its subsidiary, Commtouch Inc., is based in Mountain View, CA. The company was founded in 1991 and has been publicly traded since 1999 (Nasdaq:CTCH). To learn more about Commtouch visit www.commtouch.com.
This press release contains forward-looking statements, including projections about our business, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. For example, statements in the future tense, and statements including words such as "expect", "plan", "estimate", anticipate", or "believe" are forward-looking statements. These statements are based on information available to us at the time of the release; we assume no obligation to update any of them. The statements in this release are not guarantees of future performance and actual results could differ materially from our current expectations as a result of numerous factors, including business conditions and growth or deterioration in the Internet market, commerce and the general economy both domestic as well as international; fewer than expected new-partner relationships; competitive factors including pricing pressures; technological developments, and products offered by competitors; availability of qualified staff for expansion; and technological difficulties and resource constraints encountered in developing new products as well as those risks described in the company's Annual Reports on Form 20-F and reports on Form 6-K, which are available through www.sec.gov.
Recurrent Pattern Detection is a trademark and Commtouch is a registered trademark of Commtouch Software Ltd.
Contacts
Krems Public Relations for Commtouch
Michael Krems, 800-860-6008 or 650-759-7133
krems@kremspr.com
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