Press Releases
World Wide Packets Bolsters Management Team with CFO and VP of Operations
New Hires Offer Deep Expertise and Strategic Oversight to Rising Ethernet Access Company
Spokane, WA, February 23, 2004 — World Wide Packets, the leading provider of Ethernet Access networking solutions, announced today that Matthew Frey and Ted Volberding have joined the company as Chief Financial Officer (CFO) and Vice President of Operations, respectively. Frey will oversee the financial planning, analysis and execution, as well as contract negotiations for World Wide Packets while Ted will manage all manufacturing operations for the company. The addition of Matthew and Ted to the World Wide Packets leadership team demonstrates the company’s growth commitment and potential.
Matthew brings over 12 years of financial planning, analysis, and operational planning to World Wide Packets. Most recently, he was Principal of Frey Consulting where he assisted start up companies develop strategic planning and raise venture capital, and advised high net-worth clients about venture investment decisions and asset allocation strategies. Prior to that, he served as Chief Investment Officer at JDL Enterprises, LLC where he made direct venture investments and managed the overall investment strategy for over $65 million in assets. Matt also served as Vice President of Finance & Technology for Data Base, Inc. In his role, he developed and implemented a $25 million acquisition strategy, and was responsible for a custom software development project that increased EBITDA margins from 25% to 40% in thirty-six months. He was responsible for the sale of the company in 1999 to Iron Mountain for $115 million, achieving the highest multiple paid for any company in the industry. Earlier in his career, Matt worked in the Silicon Valley office of Price Waterhouse.
Before joining World Wide Packets, Ted Volberding was founder, CTO, and former CEO of Integrex, an electronics manufacturing services (EMS) company that supported networking, telecom, medical and industrial accounts in the United States and Ireland. Previously, Volberding was the Director of Contract Operations at ATL Ultrasound, a leading medical device manufacturer in the Pacific Northwest that was sold to Philips Medical Systems in 1999. As part of ATL’s operations team, he was instrumental in establishing the SonoSite manufacturing facility and spun out the hand-held ultrasound division, taking that company from start-up to a 75 employee, ISO registered Medical Device manufacturing facility in less than 9 months.
“When looking for a CFO and VP of Operations, we were looking for two individuals that have the expertise and leadership qualities necessary to continue to scale our business on a global level.” said Dave Curry, President and CEO of World Wide Packets. “In building the world’s foremost Ethernet Access company, we rely heavily on the experience and guidance of everyone on our management team. Matthew and Ted each bring a tremendous track record to World Wide Packets and their experience will further strengthen and enhance our market position and growth.”
About World Wide Packets
Based in Spokane, WA, World Wide Packets LightningEdge™ Ethernet service delivery access network solution enables delivery of simultaneous telephony, business and entertainment video, broadband data, and Internet access services, to any combination of business and residential subscribers, using Ethernet over fiber and copper medium. By bringing together the limitless bandwidth capabilities of a fiber infrastructure with the affordability and proven performance of Ethernet, these networks eliminate the constant bandwidth challenges now facing network operators. World Wide Packets is a privately held corporation, and a recognized pioneer of Ethernet geographic network solutions. For more information on World Wide Packets, please visit www.worldwidepackets.com.
Access Brilliance, Ethernet to the Subscriber, ETTS, Fiber to the Subscriber, FTTS, LightningEdge, World Wide Packets and the World Wide Packets logo are trademarks of World Wide Packets Incorporated. All other trademarks are the property of their respective owners.
Contact
Daniel Carter
Racepoint Group, Inc.
617-583-1331
dcarter@racepointgroup.com
.
