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| ViVOtech
on the Rise Press Release
ViVOtech
on the Rise: Company Reports Strong Demand in Payment Market and
Extends Executive Management Team with Three Strategic Appointments
Contactless
Payment Leader Poised to Leverage Market Momentum in 2006 with Strong
Product Portfolio and Executive Appointments to Drive Global Revenue
SANTA
CLARA, Calif., January 24, 2006 – ViVOtech, the leading
supplier of Contactless payment solutions, today announced the addition
of three key executives to help the company position itself to capitalize
on the enormous opportunities in the payment market.
ViVOtech
sees strong growth and significant demand across its entire product
line, including software for mobile devices, Contactless readers
and back-end transaction processing software. With more than 135,000
Contactless readers shipped, ViVOtech’s success can be attributed
to its ground-breaking payment solutions, which have played a key
role in the nation’s largest Contactless rollout programs,
including the industry’s first Near Field Communication (NFC)
pilot program in Atlanta.
To
leverage market momentum, ViVOtech is continuing to invest and build
the organization, including these three senior appointments:
- Peter
Slocum has joined the company as senior vice president of engineering,
responsible for overseeing engineering growth, quality and customer
support, and guiding the development of new products and services.
With over 25 years of experience developing, managing, and leading
engineering teams, Slocum has proven ability in attracting and
retaining some of the most exceptional engineering talent. Prior
to joining ViVOtech, Slocum was vice president of engineering
operations at Brocade Communications in San Jose. Earlier, he
held engineering vice president positions at Cylink Corporation,
and Octel Communications – bringing development experience
of mission critical, secured and carrier class software systems
to ViVOtech.
- Todd Ablowitz
is appointed to the position of senior vice president of sales,
responsible for driving global sales and business development.
Ablowitz has a solid record in the payment industry in a variety
of senior sales management positions. Prior to joining ViVOtech,
Ablowitz held positions at First Data Corporation where he spearheaded
the company’s joint ventures with Wells Fargo Merchant Services
and Bank One. Currently, Ablowitz is Vice Chairman of the Technology
Committee of the Electronic Transactions Association (ETA).
- David
Fiore has been named as chief financial officer (CFO), responsible
for all financial operations. Fiore is a seasoned executive with
more than 20 years of experience and has held vice presidential
positions for several corporations through major growth and transitional
phases. Prior to joining ViVOtech, Fiore managed his own consulting
practice where he worked with more than 30 companies including
Phone.com (now OpenWave) and iCompression (purchased by Globespan).
“Over
the next five years, opportunities will be enormous as the payment
industry introduces innovative new methods in the quest to replace
cash, and enhance speed, convenience and security at the Point of
Sale,” said Michael Mullagh, CEO for ViVOtech. “With
these appointments, and our broad based product line we are very
well positioned to take advantage of these opportunities.”
About
ViVOtech
ViVOtech (www.vivotech.com) is the market leader in Contactless
payment software, transaction management systems and readers. These
solutions allow consumers to make Contactless payments with radio
frequency-enabled credit cards, debit cards, key fobs, and NFC enabled
mobile phones. With more than 135,000 units shipped, ViVOtech's
products are being used by movie theaters, fast food restaurants
(QSR), casual dining establishments, convenience stores, gas stations,
drug stores, grocery and vending machine locations enabling them
to accept Contactless/NFC payments. For the recent NFC field pilot
at the Philips Arena, ViVOtech provided payment software for the
NFC mobile phones and enabled over 150 POS terminals. ViVOtech is
headquartered in Santa Clara, Calif., with offices in Europe and
Asia. In 2005, ViVOtech received the prestigious Frost & Sullivan
technology award for its role in transforming the Contactless payment
industry.
Editorial
Contact:
Janice Mackey
Weber Shandwick, for ViVOtech
408-530-8400 ex 2223
jmackey@webershandwick.com
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