Xelerated Appoints New CEO

Xelerated, the Price/Performance Leader in Network Processing, Announced Today That Thomas Axelsson is Being Appointed New CEO as of September 1

STOCKHOLM, August 23 /PRNewswire/ -- Following its significant successes on the market and the newly raised funding, Xelerated is reorganizing to take the next step in the company's development. Thomas Axelsson's task is to lead the company through the phase during which design-wins are turned into volume sales and deliveries, combined with a continued focus on bringing next-generation products to market.

"Xelerated is now entering a phase of strong growth in sales, and hence production and delivery. In parallel, the company is developing new products for the Access and High-End Enterprise markets. With Thomas Axelsson's proven experience of building organizations with strong development, production and delivery functions, I feel confident that Xelerated will become a key supplier of network processors for feature-rich Ethernet solutions," says Eva Lindqvist, Chairman of the Board.

In parallel, additional emphasis is being placed on broadening Xelerated's customer base and intensifying customer relations. The former CEO Johan Borje is being appointed President in charge of expanding the company's market position, with a dedicated focus on sales and leveraging of Xelerated's already comprehensive customer engagements, including companies such as Atrica, Fujitsu, Huawei and ZTE.

"I've been impressed by the quality of Xelerated's design wins and customers, and I'm convinced that Xelerated will be profitable in the very near future," Thomas Axelsson states. "I'm very excited to be joining the team with the task of realizing Xelerated's vision of becoming the number-one supplier of feature-rich Ethernet solutions for Metro, Access and High-End Enterprise systems," Mr. Axelsson concludes.

ABOUT XELERATED

Xelerated's award-winning products target mission-critical network equipment for the Metro, Access and High-End Enterprise markets. The company is recognized as being the only network-processor vendor to have combined the efficiency of an ASIC with the programmability of traditional network processors. This unprecedented combination of speed and programmability enables network-equipment vendors to build carrier-class systems at a competitive price point. Together with a complete set of supporting products such as an industry-leading Metro Ethernet application, reference design platforms and a comprehensive set of software tools, this has resulted in Xelerated's network processors being incorporated as vital components in network equipment around the world. Customers are tier-1 system vendors such as Atrica, Fujitsu, Huawei and ZTE. The company has offices in Santa Clara (California), Tel Aviv (Israel) and Stockholm (Sweden). Xelerated's investors are the Sixth Swedish National Pension Fund (the Sixth AP Fund), Atlas Venture, Accel Partners, Alta Partners and Amadeus Capital Partners.

ABOUT THOMAS AXELSSON

Thomas Axelsson brings over 25 years of senior management experience from small and large companies. In one of his most recent roles Thomas Axelsson was COO and CEO of Symsoft AB, a highly competitive telecom SW company. Before joining Symsoft AB, Thomas Axelsson held leading positions within the Ericsson Group in Sweden and Canada, where he managed large international organizations developing and producing cellular systems. Thomas Axelsson holds a Master of Science degree from Lund Institute of Technology, Sweden.

    For Further Information, Please Contact:

    Eva Lindqvist, Chairman, Xelerated
    Phone: +46-705318334




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