Silicon Valley Veteran Appointed New Acceleware Director and Grant of Stock Options
CALGARY, Alberta – September 24, 2009 – Acceleware Corp. (TSXV: AXE), a leading developer of high-performance computing applications, is pleased to announce that Mr. Jens Horstmann, of Santa Clara, California, has been appointed a Director of Acceleware.
“Multi-core processing and GPU computing are technologies revolutionizing the future of high performance computing,” said Jens Horstmann. “Entire industries are being transformed. Given its history as a pioneer in this industry, and having built a formidable client list of Fortune 500 companies, Acceleware is positioned at the very forefront of this dynamic, transformational process. I’m delighted to be joining the Acceleware Board, and very much look forward to assisting the Company, in any way that I can, to realize its full commercial potential.”
Mr. Horstmann has served as Vice President and CTO of DVDPlay, Inc. (of Campbell, California) since April of 2006 and previous to that he was its President and CEO for four years. Mr. Horstmann advises several start-up ventures and manages MXGO, an intellectual property management company. Prior to joining DVDPlay he was President and CEO of Open Grid, Inc. Jens’ nearly 25 years of executive and technical experience includes senior engineering, and research and development positions at Sun Microsystems, Siemens, LSI Logic Systems Research Laboratory, and X1 Corporation. He also holds several patents. Jens lives with his family in Silicon Valley and is an avid pilot and photographer.
“We welcome the experience and perspective that Jens brings to the Board,” stated Acceleware Chairman Bohdan Romaniuk. “Jens’ extensive involvement in areas of the high tech industry that are aligned with Acceleware’s markets will not only complement the expertise of the current Board, but will augment the range of business skills, hands-on operational experience and specialized industry knowledge available to the Company.”
In connection with his appointment, Mr. Horstmann has been granted stock options to purchase 100,000 common shares. The options have an exercise price of $0.10 per common share and expire on September 24th, 2014. One-half of the options vest immediately and the remaining options shall vest on the first anniversary of the grant date. The stock option grant is subject to regulatory approval.
The Corporation has determined that exemptions from the various requirements of the TSX Venture Exchange Policy 5.9 are available for the grant of options.
Along with his new position on Acceleware’s Board of Directors, Mr. Horstmann also serves as Chairman of Kachingle Inc., a micro payment provider for newspaper and social networking sites.
Acceleware develops and markets solutions that enable software vendors to leverage heterogeneous, multi-core processing hardware without rewriting their applications for parallel computing. This acceleration middleware allows customers to speed-up simulation and data processing algorithms, benefiting from high performance computing technologies available in the market such as multiple-core CPUs, GPUs or other acceleration hardware.
Acceleware solutions are deployed by companies worldwide such as Philips, Boston Scientific, Samsung, Eli Lilly, General Mills, Nokia, LG, RIM, Medtronic, Hitachi, Fujifilm, FDA, Mitsubishi, Sony Ericsson, AGC, NTT DOCOMO, and Renault to speed up product design, analyze data and make better business decisions in areas such as electronic manufacturing, oil & gas, medical and security imaging, industrial and consumer products, financial, and academic research.
For more information about Acceleware, please visit www.acceleware.com.
Acceleware is a public company on Canada’s TSX Venture Exchange under the trading symbol AXE.
The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this release.