PRZOOM - /newswire/ -
San Rafael, CA, United States, 2009/03/12 - U1 Technologies announced the appointment of two industry veterans, Chip Overstreet and Dale Sakai, to its Board of Directors.
Both have joined U1’s Board as Executive Directors, and they are working closely with the executive team to help the company identify and penetrate new markets outside of their core base within financial services. U1’s flagship product, AmbrosiaMQ™, is a high-performance messaging platform that powers 24x7 global trading applications for over 30 of the world’s leading financial institutions.
“Over the past decade, we’ve worked closely with our financial customers to tackle the most critical aspects of messaging for real-time trading applications – addressing the competing requirements of ultra high-performance, with that of fault tolerance,” said Nathaniel Colangelo, CEO and Chairman of U1 Technologies. “There are several adjacent markets, both vertical and horizontal, where these requirements are not being met in a cost-effective manner. I brought Dale and Chip onto the Board to help us identify and penetrate these markets, and am excited to have these two messaging veterans working with me and the team.”
Chip Overstreet has a 23-year career in the high tech industry, with a primary focus on B2B software and solutions. He was most recently president & CEO of Encover, a leading provider of outsourced service contract sales for manufacturers and their channel partners. Prior, Overstreet held positions of vice president, worldwide marketing & business development at Blue Martini Software, and he was president & CEO of RTIME, which was sold to Sony in 2000 to become the high performance networking engine for multiplayer gaming on the Sony Playstation®2. Prior, Overstreet was vice president of marketing and business development at Open Horizon, and he started his career as a sales engineer at Oracle Corporation.
Dale Sakai brings over twenty years of general management experience to the U1 team. Dale is currently a managing director at the Incyte Group, a strategy consulting firm serving the high tech industry. Sakai started his career at IBM, where he was the COO of both IBM Database Systems and IBM Application Development business units. After IBM, Sakai was Chief Strategy Officer at Active Software, a market leader in real-time Java-based messaging solutions, which merged with webMethods after its initial public offering in 2000. Following his time at Active Software, Dale was CEO of Confer Software, a Goldman Sachs company that was acquired by Quovtix. “U1 is one of the best kept secrets in Silicon Valley,” said Chip Overstreet. “They have dozens of banks using their solutions to power their global trading systems, but the company is relatively unknown in adjacent markets that also require robust, high performance communications solutions. Nathaniel and his team have built a very compelling product, and Dale and I are enjoying working alongside him to forge into new markets.”
About U1 Technologies
U1 Technologies (u1.com) was founded in 1998 by a group of technical experts in the areas of messaging, security and distributed applications development. The company’s core product, AmbrosiaMQ™, has been architected to be the best-in-class messaging platform in the market for large-scale, high-performance, distributed applications. AmbrosiaMQ™ has been utilized in mission-critical environments for over a decade, and is currently being used by over 30 financial institutions to power their real-time global trading applications. U1 Technologies is privately held and has been profitable since 1999.