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Exenet Adds to its Board

Exenet Technologies, a leading Application Infrastructure Provider (AIP) of outsourced IT infrastructure and services, announced Tuesday (Jan 16) the appointment of a new chairman and two new members to its board of directors.

New chairman Harris Ravine brings a significant technology business background to Exenet's board, including over 15 years of executive and board member experience in storage and networking technology, e-finance and technology venture capital. Ravine will chair the board as an independent director and joins board members Bill Elsner, Rick White, Paul Case and James Donaghy. In addition, Sam Negahbani, CEO and president of Exenet, and Steve Fazio, executive VP Sales, have also been named to the board.

"Exenet's infrastructure utility model enables the ASP industry to deliver applications in a world class, secure and reliable manner to end users," said Ravine. "The current market instability surrounding the ASP space is a temporary situation caused by first-generation quality-of-service barriers. These service problems are directly tied to inadequate infrastructure for supporting the application-as-utility model. I expect in 2001 that we will see savvy second-generation ASPs discovering that outsourced infrastructure will allow them to focus on delivering a higher quality of service. I am confident that Exenet will play a critical role in accelerating the adoption of the ASP model."

Ravine currently serves as a director on the board of Amplicon Financial. He formerly was chairman and CEO of Andataco, a leader in the open systems data storage market. Ravine is also currently a partner at In_Fusion, a strategic advisory group focused on the data storage and network markets. Previously, Ravine was a managing partner of Broe Investment Capital, a private equity venture fund, held various senior executive positions such as CAO and CFO at Storage Technology and founded California First National Bank, a full service e-bank.

Negahbani managed Exenet's start-up and revenue growth from an initial investment of $850,000 in 1997 and has over 15 years of providing IT solutions to hundreds of companies. Fazio has led Exenet to exceed sales targets every year since its founding and has increased sales to a run rate of over $15 million annually.

"Exenet has one of the best and most knowledgeable Board of Directors in the application infrastructure services industry at its helm," Negahbani said. "In particular, Harris Ravine brings both vision and unparalleled experience in the IT industry to Exenet's board room. The executive team at Exenet is immensely pleased and eager to work together with our new Chairman and Directors as we move forward."

Other board members also bring significant technology, telecommunications and international business knowledge to Exenet's board. Bill Elsner is managing partner of VC firm Telecom Partners, through which he has invested in and assisted a wide number and range of start-up companies. Rick White is managing director of CIBC Capital Partners and is primarily responsible for CIBC Partners' telecommunication services VC investments. Paul Case is a founding member and principal at Spectralliance, a privately held telecommunications consulting firm. James Donaghy is chairman of Structure Tone Inc., a privately held multi-national provider of construction management services with over $2 billion in worldwide revenue.

Based in New York, Exenet provides its clients a comprehensive and tightly integrated set of management, storage, directory and database services, as well as superior application hosting, global support, ultra-secure networks and universal access. Exenet furnishes and manages all the mission-critical technology to keep applications running reliably and efficiently at an unmatched level of accountability and service.

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