TORONTO, ON --(Marketwired - September 17, 2015) - ViXS Systems Inc. (TSX: VXS), a pioneer and leader in media processing solutions, is pleased to announce the appointment of Sohail Khan to the position of President and Chief Executive Officer, effective immediately.
Mr. Khan has over 30 years of experience in leading an array of global public and private technology companies, from start-ups to multi-billion dollar businesses. Mr. Khan was President and CEO of SiGe Semiconductor, a private fabless semiconductor company. As CEO of SiGe, he refocused the company on core markets that resulted in SiGE securing the top market share position in the highly competitive WiFi segment. He increased value by driving financial, operational, and sales improvements, including securing design wins from a number of tier-one OEMs. During his tenure, sales increased from a quarterly run rate of less than $10 million to over $35 million, with strong revenue momentum at the time of the acquisition. SiGe began an IPO process but was ultimately acquired by Skyworks Solutions Inc. for $300 million, providing an approximate 5 times return on invested capital to the last round of investors.
Mr. Khan also has extensive capital markets experience that includes the spinout and IPO of Agere Systems from Lucent Technologies, the largest technology IPO on the NYSE. Agere Systems was a global leader in semiconductors and software solutions for storage, mobility, and networking markets. He has been involved in over 10 M&A public and private transactions at his various roles. As well, he managed the IP portfolio at Microelectronics which generated revenues in excess of $100 million on yearly basis from global customers.
Mr. Khan served as President of the Integrated Circuits Division of Lucent Technologies Microelectronics group (spinout from AT&T Inc), where he was responsible for all aspects of the $3 billion business. Under his leadership, the businesses achieved top positions in Telecom, Wireless including WiFi and Storage/HDD segments.
Mr. Khan was most recently President and CEO of Lilliputian Systems, an early stage spinout from the Massachusetts Institute of Technology (MIT). He is currently on the board of two NASDAQ listed companies including Intersil Corporation and Lightpath Technologies, Inc. Mr. Khan has a Bachelor's Degree in Electrical Engineering from the University of Engineering and Technology, Lahore, Pakistan and an MBA from the University of California at Berkeley.
"The Board of Directors is delighted with the appointment of Mr. Khan. He is a seasoned semiconductor executive with a deep understanding of the capital markets and has a proven track record of financial and operational execution. We have the utmost confidence that Sohail is the leader to drive the monetization and commercialization of ViXS' technology," stated Peter Currie, Chairman of ViXS Systems.
"I am looking forward to joining the ViXS team. ViXS has world class technology, exceptional engineering talent and a history of innovation and execution. My goal is clear, to commercialize ViXS` technology and deliver improved execution and financial performance, creating value for all stakeholders," stated Sohail Khan, President and CEO of ViXS Systems.
About ViXS Systems Inc. ViXS is a pioneer and market leader in designing revolutionary media processing semiconductor solutions for video over IP streaming solutions, with over 516 patents issued and pending worldwide, numerous industry awards for innovation, and over 33 million media processor shipped to date. ViXS is driving the transition to Ultra HD 4K across the entire content value chain by providing professional and consumer grade chipsets that support the new High Efficiency Video Coding (HEVC) standard up to Main 12 Profile, reducing bandwidth consumption by 50% while providing the depth of color and image clarity needed to take advantage of higher-resolution content. ViXS' XCodePro 300 family is ideal for Ultra HD 4K infrastructure equipment, and the XCode 6000 family of system-on-chip (SoC) products achieve unprecedented levels of integration that enable manufacturers to create cost-effective consumer entertainment devices.
ViXS is headquartered in Toronto, Canada with offices in Europe, Asia and North America. VIXS™, the ViXS® logo, XCode®, XCodePro™, XConnex™ and Xtensiv™ are trademarks and/or registered trademarks of ViXS. Other trademarks are the property of their respective owners. For more information on ViXS, visit our website: www.vixs.com.
Forward-Looking Statements Statements in this press release that are not historical facts constitute "forward-looking statements" within the meaning of applicable securities laws. Such statements include, but are not limited to, statements regarding ViXS' projected revenues, gross margins, earnings, growth rates, the impact of new product design wins, market penetration and product plans. The use of terms such as "may," "anticipated," "expected," "projected," "targeting," "estimate," "intend" and similar terms are intended to assist in identification of these forward-looking statements. Readers are cautioned not to place undue reliance upon any such forward-looking statements. Such forward-looking statements are not promises or guarantees of future performance and involve both known and unknown risks and uncertainties that may cause ViXS' actual results to be materially different from historical results or from any results expressed or implied by such forward-looking statements.
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Charlie Glavin ViXS Systems Inc. T: +1 416 646-2000 firstname.lastname@example.org Investor Relations ViXS Systems Inc. T: 1 416 646-2000 ext. 3 Ir@vixs.com