Latest Addition to Seasoned Management Team Brings Two Decades of Experience in Finance and Operations
Framingham, Mass.—May 5, 2003—Netezza™ Corporation today announced that Patrick Scannell has joined the Company as CFO. In this role, Scannell will be responsible for overseeing finance and administration. He will work directly with Jit Saxena, co-founder and CEO of Netezza, to set and manage the Company’s financial strategy. Netezza’s purpose-built, tera-scale data appliance enables real-time Business Intelligence (BI) for Fortune 1000 businesses and partners who need faster, more sophisticated data analysis.
Scannell brings more than 25 years experience in finance and operations to Netezza. Most recently he served as CFO of PhotonEx Corporation, a leading provider of next-generation optical systems for core public services networks. Prior to his work at PhotonEx, Scannell was CFO of Silknet Software, a company he took public before orchestrating its sale to Kana (NASDAQ: KANA), a leading provider of enterprise customer support and communications applications.
Before Silknet, Scannell was executive vice president and CFO of Applix, Inc., a global provider of enterprise-wide Business Performance Management solutions. While at Applix, he led the company through a successful initial public offering.
Scannell earned an MBA from Babson College and a BS from Boston College. He is a Certified Public Accountant.
“Pat brings considerable financial and operational experience as a public and private company CFO to Netezza,” said Saxena. “He will help to manage and balance our strategic technology and partnership interests with our financing and equity needs.”
“Netezza is changing the face of data warehousing and business intelligence through the development of the Netezza Performance Server™ system—a new generation of tera-scale data appliances,” said Scannell. “It is an exciting time for the company and I look forward to working closely with Jit once again to ensure the continued growth and success of Netezza.”
Netezza’s flagship product, the Netezza Performance Server™ (NPS™) delivers 10 to 20 times the performance for large, complex and constantly growing BI efforts at half the cost of existing systems. Netezza started with a clean sheet of paper and designed a breakthrough architecture. The NPS system combines servers, storage and database into a single powerful and scalable appliance created from the outset to process queries faster—and enable complex data analysis that was not previously possible because of large and fast-growing data sizes. This new architecture shatters traditional performance benchmarks and many of the technical roadblocks that paralyze today’s patchwork of general-purpose offerings.
About Netezza Corporation
Netezza delivers the world’s first purpose-built, tera-scale data appliance
that enables real-time Business Intelligence (BI). The Company’s appliance
runs ad hoc and complex queries in a fraction of the time of existing solutions,
delivering fast and affordable BI to data-intensive organizations in financial
services, retail, communications and other markets. Based on a patent-pending
architecture, Netezza’s appliance delivers faster, more sophisticated
analysis while allowing companies to leverage their existing infrastructure.
Founded in 2000 and based in Framingham, Mass., Netezza is led by an experienced
management team from several leading technology companies. The Company is financed
by Matrix Partners, Charles River Ventures and Battery Ventures. For more information
about Netezza, please visit www.netezza.com.
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Netezza, the Netezza logo, NPS, Performance Server, Netezza Performance Server, Intelligent Query Streaming, Asymmetric Massively Parallel Processing and AMPP are trademarks or registered trademarks of Netezza Corporation in the U.S. and/or other countries. All rights reserved. All other company, brand and product names contained herein may be trademarks or registered trademarks of their respective holders.