Kastle
Systems appoints Piyush Sodha as new Chief Executive Officer and Co-Chairman
Technology Executive Piyush Sodha to Lead Kastle Systems as Chief Executive
Officer and Co-Chairman
WASHINGTON, April 14 /PRNewswire/ -- Piyush Sodha, an accomplished technology
executive, will become Chief Executive Officer and Co-Chairman of Kastle
Systems International LLC, a global leader in building and office security
systems.
The announcement was made by Mark Ein, majority owner of Kastle Systems, who
acquired the privately held company last year, and Gene Samburg, the former
CEO, who will join the Office of the Chairman with Ein and Sodha.
"Piyush is an incredibly experienced CEO with a virtually unparalleled track
record of successfully building and rapidly scaling technology-centric
entrepreneurial companies," Mark Ein said. "Having worked together with
Piyush in four companies over the last 15 years, I have seen how his unique
blend of talent, leadership and customer focus has transformed these companies
and led to dramatically accelerated growth. Piyush and I share a conviction
about the opportunity to significantly grow Kastle and a long-term commitment
to make it happen. I have great confidence that he is the ideal leader for
this Company. "
The appointments are effective
immediately.
"I am delighted
to be passing the baton to Piyush, who is an engineer by
training, a businessman by experience and a proven leader by approach," Gene
Samburg said, "After 35 years as CEO of Kastle, I can't imagine turning it
over to better hands."
In addition to his duties as CEO
and Co-Chairman, the company announced that
Mr. Sodha had made a significant financial investment in Kastle and will
become a major shareholder in Kastle.
"I am very excited to join Kastle as CEO,
investor and partner with Mark," Mr.
Sodha said. "With its strong brand and large customer base, Kastle is a great
company and platform to build on. There is a significant and growing need for
our products and services and a real long-term opportunity to develop and
provide new technology solutions that are responsive to the needs of our
customers and the marketplace. I think we have the chance to build on Gene's
great work and create something very special here over a long period of time."
Mr. Sodha has an exceptional record, Mr. Ein noted, leading, growing and
building significant value in a series of successful technology companies by
providing compelling new products to the market. In several of these
companies, Mr. Ein was a lead investor and worked in partnership with Mr.
Sodha to help drive the growth.
Most recently, Sodha was Chairman and CEO of Cibernet Corporation, a leading
provider of settlement, clearinghouse and revenue generation solutions for the
wireless industry. During his tenure from 2005-2007, Cibernet experienced
substantial growth through global expansion and new product introduction.
From 2001 through 2005, Sodha served as CEO of Matrics Inc, a designer and
manufacturer of electronic product code Radio Frequency Identification (RFID)
systems, growing it into a market leader that was purchased by Symbol
Technologies. Sodha also served as CEO of LCC International, a global
provider of RF engineering services, from 1990-1998. Under his leadership,
the employee base and revenues grew by almost 20 times and the company
launched an initial public offering in 1995. In each of these companies, Mr.
Ein was a major investor and board member.
Sodha holds a B.S. in electrical engineering from IIT in New Delhi, an M.S. in
electrical engineering from Drexel University, and an M.B.A. from the Wharton
School of the University of Pennsylvania.
In addition to being the majority owner and Co-Chairman of Kastle Systems, Ein
is the founder and Chief Executive Officer of Venturehouse Group, LLC, a
holding company based in Washington D.C., that creates, invests in and builds
technology and telecommunications companies. He is also the Chairman and CEO
of Capital Acquisition Corp, a Special Purpose Acquisition Company, that
completed a $262.5 million in IPO in November 2007. Mr. Ein recently launched
a World Team Tennis franchise called "The Washington Kastles," the security
firm's namesake [see www.washingtonkastles.com].
About Kastle Systems
Leading the industry for more than 35 years with new technologies and advanced
security solutions, Kastle Systems sets the standard for the design,
installation, operation, and management of building and office security
systems.
Headquartered in Washington, D.C., Kastle Systems has
offices in Chicago, Dallas, Houston, Los Angeles, New
York, Philadelphia, and Sydney, Australia. To learn more
about Kastle’s security solutions, visit
www.kastle.com. |