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Vaultus Appoints CFO, Adds Board Members

Java mobile provider Vaultus has appointed Albert Macchioni as chief financial officer, and Richard Fuller, David Scanlan and Donald Norman to its board of directors.

Macchioni will be responsible for contributing to the development of the company's overall business plan while tracking its financial health.

"Al brings 25 years of financial management experience to us and has a deep and thorough knowledge of the capital markets. He will play a key role in aligning our growth with our financial resources," said Ron Spears, CEO of Vaultus.

Prior to joining Vaultus, Macchioni served as senior vice president and chief financial officer at USADATA.com, Inc., a provider of sales and marketing services to B2B and B2C businesses.

The new CFO is credited with successfully raising $12 million in venture capital for USADATA.com. Prior to that positon, Macchioni was managing director and head of the technology investment banking group with Price Waterhouse. He was also an investment banker with Lehman Brothers and SBC Warburg.

Joining chairman of the board Ed Bennett on the board of directors, Vaultus said Fuller, Scanlan, and Norman would assist the company in key financial and technical areas.

Fuller is a partner at Investcorp, and a founding member of its technology investments group. Prior to joining Investcorp, he was a partner in the strategy consulting firm, L.E.K. Consulting. In addition, Fuller headed L.E.K.'s technology practice, advising companies such as Liberty Digital, Inktomi, GeoCities, among other international telcos. Fuller is also the founder of Benefice, an online service for charities.

Scanlan is a principal with First Union Capital Partners, where he has served since 1996. Previously, he was an associate in First Union's leveraged finance group. His investment focus is in the technology and IT services industries. Scanlan is a member of several boards of directors, including Agilera, Inc., Belenos, Inc., Event Zero, Inc., BaseSix, Inc., Lakeland Tours, LLC, RedCelsius, Inc., Trados Corporation, YOUcentric, Inc., and the Greater Philadelphia Venture Capital Corporation, Inc.

Norman is president of UNext Learning Systems, a division of UNext and an e-learning company. He is also cofounder of the Nielsen Norman Group, an executive consulting firm. Norman has served as an executive at Hewlett Packard and as vice president in charge of advanced technology at Apple Computer. He is professor emeritus at the University of California, San Diego where he was founding chair of the Department of Cognitive Science and chair of the Department of Psychology.

Vaultus is headquartered in New York City with offices in Denver and Boston.

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