NOVEMBER 1, 2006
INNOTAS ANNOUNCES ELECTION OF SHINYA AKAMINE TO BOARD OF DIRECTORS
BlueRoads' President and CEO Joins Newly Expanded Board
OAKLAND, CALIF., NOVEMBER 1, 2006 — Innotas, the provider of the only pure, on-demand Project Portfolio Management solution specifically designed to meet the needs and cost constraints of mid-sized organizations, today announced that its board of directors has elected Shinya Akamine to the Board as an independent director.
"We are delighted that Shinya has accepted our invitation to join the Innotas Board of Directors," said President and CEO Keith Carlson, Innotas. "Shinya's demonstrated on-demand leadership, technology vision and business experience will further enhance the strength of our Board."
Mr. Akamine is currently President and CEO of BlueRoads Corporation, a leading provider of channel management solutions. Having held executive and CEO positions in several high tech companies primarily focused on on-demand software, Mr. Akamine brings proven experience and knowledge of the space to this position.
"I was very pleased to be invited by Innotas and believe I can bring substantial leadership to the Board of Directors," said Akamine. "The market is clearly trending toward the on-demand delivery model, and Innotas is in a strong position with its pure, on-demand Project Portfolio Management solution and a solid base of customers around the world. The company is uniquely positioned for rapid growth and is poised to lead the on-demand PPM market for mid-sized organizations."
Currently, Mr. Akamine serves on the board of directors of both BlueRoads and Core Security and was a board member of LiveCapital (acquired by D&B) and Postini. Most recently, he co-founded and served for five years as chief executive officer of Postini, one of the world's largest and most profitable email security firms. Postini pioneered email security as an on-demand service and was awarded fundamental patents covering the email security managed service business model.
Previously in his career, Mr. Akamine was a consultant with McKinsey & Company and also held vice president and general management positions at Cygnus Solutions (acquired by RHAT) and other high-tech companies. He is the inventor of ten patents and was honored in 2004 with an Outstanding Inventor award by Stanford University. He was previously recognized by NTT in 1994 for the best research within NTT Worldwide.
About Innotas
Innotas provides the only pure, on-demand Project Portfolio Management (PPM) solution specifically designed to meet the needs and cost constraints of mid-sized organizations. The company's business model is based entirely on the concept of on-demand software, significantly lowering the total cost for customers while enabling Innotas to accelerate product innovation. With more than 2,000 users spanning a wide range of industries including financial services, healthcare, retail, high technology, telecommunications and energy, Innotas keeps IT organizations continually focused on the right IT initiatives while managing projects, as well as associated resources and capital, as efficiently and effectively as possible.
Innotas investors include ComVentures, a top tier Silicon Valley venture capital firm with a strong track record for investing in early-stage technology startups; ArrowPath Venture Partners, a venture capital firm focused on early and expansion stage companies developing enterprise and infrastructure technologies; and Cedar Circle, an investment firm funding visionary entrepreneurs. For more information on Innotas, a privately-held company based in Oakland, California, dial +1-510-281-2300 or go to www.innotas.com.
