Pittsburgh, PA – April 10, 2007 — TimeSys Corporation (www.timesys.com), the leading service provider to developers in the embedded Linux market, today announced the appointment of Atul Bansal as the company’s CEO. Mr. Bansal will be responsible for the company’s overall strategic direction as TimeSys continues to expand the LinuxLink service offering that enables developers to build customized, commercial-grade embedded Linux platforms. He assumes the leadership role from Joseph Raffa, Venture Partner with Adams Capital Management, who has served as Interim CEO and is moving into the position of Chairman of the Board of Directors for TimeSys.
Mr. Bansal is a successful entrepreneur who brings extensive leadership experience across multiple cross functional areas. He founded Laurel Networks in 1999 and served as President and CEO. Laurel Networks offered advanced edge of network routers and was sold to ECI Telecom in 2005 for $88 million. Previously, Mr. Bansal worked for Fore Systems, where he was President of the Network Control Technology division, which was acquired by Marconi in 1999.
“TimeSys has enormous potential and delivers an innovative service that is unmatched in the embedded Linux industry. The company is positioned very well for success due to its unique business model, automation and alignment with customer’s development processes, as well as the expertise of a dedicated group of employees,” said Mr. Bansal. “This is an exciting opportunity that leverages my experience in bringing Linux-based telecommunications platforms to market and reinforces the value LinuxLink delivers to developers.”
“After conducting a national search, the entire Board of Directors is pleased that Atul has joined the team as CEO,” said Joel Adams, General Partner of Adams Capital Management. “Atul is a well known and respected businessman that has successfully led nascent technology-based companies in growing markets, resulting in significant shareholder value. His leadership skills and vision, combined with the company’s focus in the embedded Linux market will enable TimeSys to attain future growth.”
About TimeSys Corporation
TimeSys is the leading service provider to developers in the embedded Linux market, delivering LinuxLink subscriptions that empower developers to rapidly and efficiently create their own commercial-grade custom Linux platform. The continuously updated cross-compiled components, information and systems offered through LinuxLink subscriptions are aggregated from the open source community, semiconductor manufacturers and TimeSys and hosted in the LinuxLink Developer Network. For more information, visit www.timesys.com.
