– UK, Cambridge – CyanConnode Holdings PLC (AIM:CYAN), the world leader in narrowband radio mesh networks, announces that Pete Hutton has been appointed to the Board of CyanConnode Holdings plc as a non-executive director with immediate effect.
Pete joins us from his most recent role as a member of the executive committee at Cambridge based ARM Limited, the UK trading company of ARM Holdings plc. During the period he spent with ARM from 2008 to 2016, revenues grew from £259 million to £1,234 million, culminating in the acquisition by Softbank Japan for £24 billion in cash in September 2016. He brings with him a wealth of practical experience in the Internet of Things (“IoT”) market, as well as strong relationships from C-Suite down with Asian, European, and US technology companies.
During his time at ARM, he served on the board of a number of worldwide subsidiaries and was extensively involved in running product groups across the company. In total, Pete has over 30 years of business experience and is well versed in building large businesses using the technology licensing and royalty model, not only from his nine years at ARM, but also from 2003 to 2007 when he was Senior Vice President and General Manager at semiconductor IP licensing company ARC International. He has been involved in a wide range of investment and acquisitions, the largest being the Apical acquisition by ARM for $350 million.
Pete will be at the General Meeting being held this morning at our offices in Cambridge and there will be an opportunity for shareholders to meet him there.
The Board also announces that as indicated at the time of the Company’s Annual General Meeting in 2016, Dr John Read, who has served on the board of the Company since 2005, and served as Chairman of CyanConnode from 2007 to 2012, will retire from the Company and stand down from the Board following the Company’s Annual General Meeting in June 2017. We would like to thank John for his contribution and support at CyanConnode and wish him well in his retirement.
John Cronin, Executive Chairman of Cyan, commented: “We are delighted to welcome Pete to the Board. Pete’s wealth of experience from ARM and within the IoT sector as well as in system and product design, will provide additional complementary skills to the Cyan Board as the business continues to build momentum. His strong network of contacts will undoubtedly be of significant value as we continue to build out the commercial opportunity at CyanConnode through Tier 1 strategic partners.
I would also like to thank John Read for his contribution and commitment to the Company, and wish him all the best in his retirement.”
Pete Hutton commented: “This is an ideal time for me to join the Board of CyanConnode. The Company has now secured multiple contracts in both developing and developed markets across the world. Based on my experience at ARM, I look forward to adding value in both migrating the business model from hardware/software to technology license royalties/software as well as building out the portfolio of strategic partnerships.”
About CyanConnode
CyanConnode is a world leader in narrowband RF mesh networks that enable Omni Internet of Things (IoT) communications. Its innovative solutions use sub GHz frequencies and are optimised for exceptional performance. Ultimesh solutions provide end-to-end quality of service and total cost of ownership and Panmesh delivers standards-based IPv6 solutions, enabling rapid innovation for the implementation of 3rd party applications. Through its global partner eco-system, CyanConnode provides customers with the flexibility and choice required to converge networks for applications in smart cities and IoT, delivering increased customer value.
For more information : http://www.cyanconnode.com
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