PRZOOM - /newswire/ -
Austin, TX, United States, 2010/06/25 - Named Austin's top CFO in a large private company, Paape was recognized by Austin Business Journal for steering LifeSize's financial and operational growth, including the company's successful $405 million acquisition by Logitech in December 2009.
Bill Paape, chief financial officer of LifeSize Communications, a division of Logitech (Nasdaq: LOGI) (SIX: LOGN), has been awarded among the 2010 Best CFOs of the Year by Austin Business Journal. Named the city’s top CFO in a large private company, Paape was recognized for steering LifeSize’s financial and operational growth, including the company’s successful $405 million acquisition by Logitech in December 2009.
Paape joined LifeSize in 2003 and was responsible for architecting the company’s operating model and financial plan. During the past six years, Paape has led LifeSize through four rounds of funding, totaling more than $81 million, spurring the evolution and progress of LifeSize to the third-largest vendor in the video communications market.
"Since LifeSize’s inception, Bill has created a foundation of solid business practices that have helped the company grow,” said Craig Malloy, founder and CEO of LifeSize Communications. “Through months of negotiation and integration during our acquisition by Logitech, Bill’s financial stewardship, exceptional discipline and expert guidance ensured LifeSize’s smooth transition into a division of a multi-billion dollar corporation. Every year we set the bar higher for our business, and Bill’s dedication is clearly integral to our continued success.”
The 2010 Best CFOs of the Year Awards honor chief financial officers who have demonstrated exceptional skill in financial planning, strategizing for future success and delivering company growth, while also displaying a personal commitment to the business and community which they represent. Paape’s skill and unwavering efforts have helped LifeSize grow to approximately 300 employees, with offices in 13 countries. LifeSize boasts more than 9,000 customers worldwide who have implemented the company’s award-winning products, leading to annual revenue growth of more than 140 percent.
Prior to LifeSize, Paape was vice president and treasurer at Polycom Inc. and also worked with LifeSize CEO, Craig Malloy, at ViaVideo Communications, where he served as CFO. Paape is a CPA and holds a master’s degree in finance and a bachelor’s degree in accounting, both from the University of Texas. He is also actively involved in giving back to the Austin community, most notably as a key donor to Mobile Loaves and Fishes, a social outreach ministry that serves the homeless.
The 2010 Best CFOs of the Year Awards are presented by the Austin Business Journal, in partnership with McQueary Henry Bowles Troy, and recognize the top CFOs in the Austin area.
About LifeSize Communications
LifeSize Communications (lifesize.com) is a world leader in high definition video communications and telepresence. Founded by industry veterans in 2003, LifeSize pioneered high definition video communications to make communicating at a distance as natural and effective as being in the same room, for anyone, anywhere. LifeSize became a division of Logitech in December 2009, sharing a vision of everywhere there is voice there should be video.
LifeSize, the LifeSize logo and other LifeSize marks are trademarks or registered trademarks of LifeSize Communications Inc. Logitech, the Logitech logo, and other Logitech marks are registered in Switzerland and other countries. All other trademarks are the property of their respective owners.
Matt Krebsbach, Waggener Edstrom– USA (512)-527-7015