, Jul 16, 2012 - Vidyo Delivers 90% Branded Product Increase in Q1 FY 2012 over Q1 FY 2011
HACKENSACK, NJ- July 16, 2012 –Vidyo, Inc., the world’s fastest-growing video conferencing company, today announced the appointment of David Kaminsky as Chief Financial Officer (CFO) of the company effective July 16, 2012. Mr. Kaminsky is a veteran finance and administration executive with more than 25 years of diverse experience that includes significant positions overseeing all aspects of global financial, IT and business operations. Mr. Kaminsky has significant expertise in corporate finance, strategic business initiatives and the unique requirements of growth-oriented companies.
Vidyo completed another record year with an 82% increase in billings for Vidyo branded products in FY 2011. In Q1 FY 2012, Vidyo experienced continued growth with a 90% increase in billings for Vidyo branded products over the same quarter in FY 2011.
“David Kaminsky is joining Vidyo as CFO at an important time for our company, when we are seeing an amazing increase in sales and market coverage,” said Ofer Shapiro, co-founder and CEO of Vidyo. “David’s appointment strongly complements our management team as we transform from a late stage start-up to a fast growing corporation. We are delighted to welcome a seasoned financial leader with experience managing companies with billions of dollars in revenues. David’s demonstrated track-record in overseeing unified communications, collaboration, mobile and telecom companies will be a tremendous asset to Vidyo.”
“Vidyo is a company with amazing vision and a huge potential for further growth and even greater market leadership,” said Mr. Kaminsky. “I am excited to be joining such a dynamic company; one that has already made a significant contribution to the video conferencing industry, enhancing the reach of high-quality visual communications and changing the way people communicate in a variety of businesses and organizations at a fraction of the cost of traditional conferencing providers. I welcome the opportunity to make a contribution to this market-changing enterprise.”
Prior to joining Vidyo, Mr. Kaminsky was Executive Vice President and Chief Financial Officer of NTT Data Inc. (a combination of Keane, Inc., Intelligroup, Inc., MISI Inc., Revere Inc. and Vertex Inc.), a Global IT Innovator delivering technology-enabled services and solutions to clients around the world. At NTT Data Inc., he oversaw global finance, IT management and Administrative Operations.
Prior to his tenure at NTT Data Inc., Mr. Kaminsky was the CFO of Altegrity, Inc., an information and intelligence company that serves significant US Federal Government and commercial organizations. At Altegrity he was responsible for all finance, tax, sourcing, and IT infrastructure operations. He participated in repositioning and reorganizing the company’s operations that helped drive revenue growth to an excess of $1B while increasing profits by nearly 2.5 times. He was also a key participant in the monetization of the company’s private equity-held investment and raised in excess of $1.3B of financing.
Mr. Kaminsky also spent 12 years at the General Electric Company where he was the CFO of GE Commercial Finances North American Leasing Operations, CFO of GE Commercial Distribution Finance, CFO of GE Information Technology Services Managed Services Business and European Operations, as well as several other positions in business development and sales/capital markets. Particularly noteworthy is his time as the CFO of GE Information Technology Services, where he provided significant leadership to the reposition and turnaround of a $1B global managed service business, and reposition, turnaround and ultimate disposition of GE Capital IT Services, a Pan European value-added reseller and IT services business with Euro 2B in revenues.
Mr. Kaminsky holds a Bachelor’s degree in accounting from the University of Bridgeport and has participated in several well known executive development programs within the General Electric Company and has been certified with a “6 Sigma” Black Belt status.
The Vidyo Difference
The Vidyo communication and collaboration platform is software-based, highly flexible and can be easily customized for individual enterprise and vertical market video conferencing needs. The patented VidyoRouter™ architecture introduces Adaptive Video Layering™, which dynamically optimizes the video for each endpoint leveraging H.264 Scalable Video Coding (SVC)-based compression technology and Vidyo’s IP. Adaptive Video Layering eliminates the MCU and offers unprecedented error resiliency, low latency rate matching thus enabling natural, affordable, high-quality video to work over the Internet, LTE and 4G networks. The platform allows users to quickly leverage the latest hardware innovations and new consumer devices, making it uniquely attractive to partners. Vidyo has been active driving H.264 SVC and SIP videoconferencing interoperability in various standards bodies since 2005.
About Vidyo, Inc.
Vidyo, Inc. pioneered Personal Telepresence enabling natural, HD multi-point videoconferences on tablets, smart phones, PCs and Macs, room systems, gateways, telepresence solutions and affordable cloud-based broadcast solutions. Headquartered in the US, with 12 additional international offices, the company has more than 225 employees and has to date raised $97M. Learn more at www.vidyo.com, on the Blog or follow @vidyo on Twitter.
The VIDYO logo is a registered trademark of Vidyo, Inc., VIDYO and the trademarks of the VIDYO family of products are trademarks of Vidyo, Inc. and the other trademarks referenced herein are the property of their respective owners.
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