MUNICH, Germany, Oct. 1 Siemens Enterprise Communications, a newly-created joint venture between The Gores Group, a U.S.-based private equity firm, and Siemens AG, announced today the appointment of James R. O'Neill, a 30-year technology industry veteran, as its new chief executive officer.
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A native of Ireland who became an American citizen in 1976, O'Neill, 54, has extensive international executive management experience with an emphasis on networks and electronics as well as large system integration, communications and computer technology. He most recently served as CEO of CompuDyne Corporation, a leading provider of products and services to the public security market. CompuDyne is also owned by The Gores Group.
"With a consistent track record of managing multi-billion dollar international businesses that have generated stellar revenue and profit increases, Jim O'Neill is an excellent choice to lead the organization," said Mark Stone, chairman of Siemens Enterprise Communications and managing director for The Gores Group. "Additionally, his strong pedigree of technology industry experience, commitment to serving his customer base, and background in managing integrations make him uniquely qualified to lead this new company."
"I am honored to lead such a dynamic organization," said O'Neill. "With exceptional employees, outstanding customers and state of the art solutions and services, I look forward to accelerating the development of the company's portfolio to capture market share in the enterprise communications and data networking space."
Prior to joining CompuDyne, O'Neill served four years as president of Northrop Grumman Corporation's $4.5 billion Information Technology sector, one of the world's premier providers of advanced IT engineering and business solutions for government. Previously, he served as president of the sector's Computing Systems business, a value-added reseller of networking, enterprise computing, security and storage solutions and services.
Before joining Northrop Grumman in 2002, O'Neill held a variety of key industry positions, including roles as senior vice president and general manager of Oracle Services Industries, where he led the company's sales and consulting groups in the worldwide communications and utilities sectors. He also served as president of the Government Solutions business unit at Lucent Technologies, and vice president and general manager of Digital Equipment Corporation's Federal Government Region, where he managed Digital's government business worldwide.
"I am extremely confident we selected the right executive to lead Siemens Enterprise Communications, our largest and most significant acquisition to date," said Alec Gores, founder and chairman of The Gores Group. "Jim O'Neill has led large and complex international organizations with great success, and his ability to connect with customers, employees, and partners in the technology sector is quite impressive."
In the coming months, O'Neill's priorities will include merging the Siemens Enterprise Communications business with two of Gores' current portfolio companies -- Enterasys, a network equipment and security solutions provider and SER Solutions, a call center software company. The combination of these three entities will create a more complete enterprise communications and data networking offering featuring world-class products, solutions, and services for the unified communications market, all based on the company's Open Communications positioning.
On Sept. 30, 2008, The Gores Group, a U.S.-based private equity firm known for its operating expertise, acquired a 51 percent stake in the company. Siemens AG maintains a 49 percent ownership interest.
O'Neill received a bachelor's degree from St. Anselm College, New Hampshire, and has attended executive management programs worldwide. He serves as the 2008 chairman of the Professional Services Council and Vice Chairman of the Executive Committee for the Northern Virginia Technology Council. O'Neill also sits on the board of the Technology Council of Maryland and the American Heart Association. He was named 2006 Government Contractor Executive of the Year by the Northern Virginia GovCon Council, Professional Services Council and Washington Technology.
For more information about the new joint venture and today's announcement, please visit our press site at: www.siemens.com/enterprise/press.
About Siemens Enterprise Communications
Siemens Enterprise Communications is a joint venture between the private equity firm The Gores Group, a leading private equity firm, and Siemens AG. The joint venture incorporates Siemens Enterprise Communications GmbH & Co. KG, its worldwide affiliates and the businesses of Enterasys Networks and SER Solutions, creating a new leader in enterprise communications -- strong in unified communications, contact centers and secure networks. More than 14,000 employees worldwide follow an Open Communications approach, providing enterprise communications and data networking solutions for enterprises of all sizes. This enables business processes to be more productive, faster and more secure within any network or information technology infrastructure. In fiscal 2007 Siemens Enterprise Communications generated revenues of approximately 3.2 billion Euros. For more information about Siemens Enterprise Communications, please visit www.siemens.com/open.
About The Gores Group, LLC
The Gores Group, LLC, founded in 1987, is a private equity firm focused on acquiring controlling interests in businesses which can benefit from the firm's operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. The Gores Group maintains offices in Los Angeles, Boulder and London. For more information, please visit www.gores.com.
About Siemens AG
Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the industry, energy and healthcare sectors. The company has around 400,000 employees (in continuing operations) working to develop and manufacture products, design and install complex systems and projects, and tailor a wide range of solutions for individual requirements. For over 160 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. In fiscal 2007, Siemens had revenue of euro 72.4 billion and income from continuing operations of euro 3.9 billion (IFRS). Further information is available on the Internet at: www.siemens.com.
SOURCE Siemens Enterprise Communications