Demarc Appoints New Chief Financial Officer28 January 2005
Demarc Security, a global provider of dynamic threat management solutions, today announced the appointment of Gary J. Owen as its chief financial officer (CFO).
Owen brings over 20 years of financial management experience to Demarc. Owen had previously served as CFO of Santa Barbara-based Somera Communications, Inc, a telecommunications provider, and led them through a $120 million IPO in 1999 and subsequent growth to $225 million in revenues on a profitable basis.
Owen joined Somera after serving as CFO for IFX Limited, an early stage, European-based information services technology company that became a leader in its sector and was subsequently acquired by a Reuters' partnership. Prior to IFX, Owen was the first CFO at Century Computer Marketing, a start-up provider of computer hardware solutions, that successfully grew to a $40 million revenue business and later he was instrumental in negotiating its sale to a public company providing an attractive exit for its founder investors. "Gary brings strong leadership skills and financial expertise to Demarc," said Brendan Rizzo CEO, Demarc. "As we continue to accelerate our growth due to the increased market demand for our Sentarus product line, Gary's experience in building high growth companies on a profitable basis will be critical to our success." "Demarc has developed an excellent product base and has established a good financial foundation," said Owen. "Those strengths, combined with the compelling market dynamics of a massive demand for internet security solutions, position Demarc well to take advantage of the significant growth opportunities ahead. I am excited to be joining Demarc at such a crucial time, and look forward to working with Brendan and the rest of the team to lead the company to a strong financial future." Educated in the UK, Owen holds a Bachelors Degree in Accounting and Finance and is a qualified Chartered Accountant.
About Demarc Demarc is a global provider of dynamic threat management solutions. Demarc's Sentarus product portfolio provides fully integrated network and host-based security solutions for small to medium businesses, government agencies, large enterprises and service providers. Available in both hardware and software, Sentarus products ensure efficient, intelligent IT risk mitigation. Demarc customers include Fortune 500 and Global 1000 enterprises, military and global government agencies in more than 25 countries around the world. Demarc is headquartered in Carpinteria, CA.
Source: PR Newswire
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