Adds Richard Thompson as New Independent
DALLAS--(BUSINESS WIRE)--Feb. 17, 2000--Blue Wave Systems Inc.
(Nasdaq:BWSI), a leading supplier of DSP solutions to the
telecommunications industry, today announced its appointment of John
Forrest, a director of Blue Wave Systems since April 1998, as chairman
of its board of directors, replacing Sam Smith who has retired.
Following the recent appointment of Lynn Davis, Senior VP of ADC
Telecommunications, the board of directors of Blue Wave Systems Inc.
has also appointed Richard Thompson, currently Chief Financial Officer
of Artesyn Technologies, to its board of directors.
John Forrest has served as a director of a number of
multi-national technology and venture capital companies, including 3i
Group PLC (LSE:III), and has served as a director of Blue Wave Systems
Inc. since April 1998. Following careers in the academic world and
defense industries, Mr. Forrest moved into the telecommunications
sector and amongst other activities led the privatization and
telecommunications growth of National Transcommunications Ltd. and
served as its chief executive officer until 1994.
Richard Thompson is the Chief Financial Officer of Artesyn
Technologies (Nasdaq:ATSN) and possesses more than 28 years of
financial management experience. Mr. Thompson's background includes
extensive experience in initiating and integrating business
combinations and financing. Artesyn Technologies is a leading provider
of hardware and software products, power conversion equipment, and
power systems that are used in networks and real-time communications
applications such as gateways, switches, and mobile infrastructure
"I have worked with John Forrest for over 4 years and feel
fortunate to have someone of John's expertise and capabilities serve
as chairman," commented Rob Shaddock, Blue Wave Systems' chief
executive officer. "John's consultation has been instrumental in
cementing our telecommunications strategy. Our goal has been to
strengthen the board of Directors and I am delighted that Rich
Thompson has been able to join the board. Rich's experience will be
very valuable to us as we review and execute our strategic growth
initiatives. In conjunction with John Rynearson and Lynn Davis we have
a strong and well-balanced board experienced in the objectives we've
set in the telecommunications market."
Commenting on the retirement of Mr. Sam Smith, Shaddock stated,
"Sam has served on the board since 1994 and has played a key role in
the creation of Blue Wave Systems. We will miss his contributions. On
behalf of everyone at Blue Wave Systems we wish Sam all the best."
Blue Wave Systems is a leading supplier of high-channel Digital
Signal Processing (DSP) subsystems used in telecommunication
infrastructure equipment, such as voice over packet (VoIP) gateways,
digital wireless communications and intelligent peripherals. The
ComStruct(TM) line of telecom infrastructure communication processing
subsystems was launched in January 1999. At the heart of the
ComStruct(TM) line is the company's FACT(TM) software (Framework
Architecture for Communication Technologies), which enables the DSP
subsystem to be rapidly and effectively deployed in a variety of
carrier class telecom applications. Blue Wave Systems has been a
market leader in DSP board-level products since 1983. For additional
information, please visit our company's web site at www.bluews.com.
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