VANCOUVER, April 6 /CNW/ - Monexa Technologies Corp. (TSX-Venture: MXA) ("Monexa"), the leader in flexible subscription billing, announced today that Mr. Garth Albright, who joined the company's Board of Directors last fall, has become Monexa's Chief Financial Officer.
"We are pleased to welcome Garth to Monexa's management team. Market intelligence company IDC forecasts the Cloud Billing Market to grow at a 78.5% CAGR from 2008-2014(1). Garth's expertise and track record in financing organic growth and leading M&A transactions will be invaluable as we address this fast-growing new market and accelerate the growth of Monexa," said John Jacobson, President and CEO of Monexa.
Garth Albright said, "Monexa has a strong management team, world-class technology and an amazing opportunity to be the market leader in subscription billing. There is a significant growth opportunity in this market and I look forward to contributing to Monexa's success as we look to deliver great value to Monexa's customers, partners and shareholders."
Garth comes to Monexa with over 30 years of corporate leadership experience as a finance executive in both public and private companies. As Chief Financial Officer at Gemcom Software International Inc., Garth played a key role on the executive team that transformed Gemcom into the world-leading mine management software company. Gemcom was acquired in July 2008 in a $189 million cash transaction by Carlyle Group, JMI Equity and Pala Investments.
At Gemcom, Garth engaged with the company's financiers and the financial markets to fuel the firm's growth through acquisitions and strong organic growth. Internally, he was responsible for the company's global finance, compliance, legal and accounting functions. Prior to Gemcom, Garth was CFO and COO of Waterfront Pictures Inc. Prior to Waterfront Pictures, he was CFO of Peace Arch Entertainment Ltd. and prior to that, the CFO of Cannect Communications Inc.
Monexa offers a flexible on-demand subscription billing solution that provides a scalable environment for expediting the launch of products, services and applications online. This accelerates our customers' time to market and revenue return.
Monexa pioneered the on-demand subscription billing space and has worked with hundreds of businesses to help monetize their services. Having the most capable and open subscription billing solution in the cloud, combined with proven billing industry expertise, sets Monexa apart from other service providers. Monexa's customers range in size from high growth SaaS and Cloud Infrastructure companies like Untangle and ActiveState to large household name companies like Pitney Bowes Business Insight, AOL Canada, Sprint, Amway and Bell Mobility. For more information visit http://www.monexa.com.
This news release contains forward-looking statements. Actual events or results may differ materially from those described in the forward-looking statements due to a number of risks and uncertainties, including changes in financial and product market conditions. Forward-looking statements are based on management's estimates, beliefs, and opinions. The Company assumes no obligation to update forward-looking statements, other than as may be required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
High resolution photos and interview opportunities available.
(1) IDC, Worldwide Cloud Billing 2009-2014 Forecast,
Doc No. 221358, December 2009
SOURCE MONEXA TECHNOLOGIES CORP.
For further information: For further information: Investor Contact: Garth Albright, CFO, D: (604) 630-5657, E: firstname.lastname@example.org; Media Contact: Sara Pereira, Sara Pereira: Marketing & Communications, P: (778) 772-3208, E: email@example.com