SOURCE: AppStream

June 07, 2007 16:57 ET

AppStream Names Srinivasa Venkataraman CEO as Company Hits 12-Month Success Milestones

PALO ALTO, CA--(Marketwire - June 7, 2007) - AppStream, Inc., a leader in on-demand application deployment and management, recently named Srinivasa "Venky" Venkataraman as new chief executive officer. Mr. Venkataraman was formerly AppStream's chief operating officer.

AppStream also announced today the accomplishment of major milestones the company set forth 12 months ago in order to continue their innovation in the area of on-demand software deployment and management. Significant company accomplishments over the past year include: more than doubling revenues, significant new customer wins like Riverdeep and Cleveland Municipal School District, partnership with Intel and announced today, a new partnership with Altiris, formation of a global VAR program, and new technology patents awarded in the area of application streaming.

"Venky and the management team have been instrumental in AppStream's success and we look forward to their continued contributions as we execute our next phase of growth," said Marc Sokol, AppStream board member and partner at JK&B Capital. "Under their leadership, AppStream has helped to define streaming and virtualization, recognized by analysts, global enterprises and the world's largest software companies as technologies that will shape the next generation of IT solutions."

Building on the success of virtualization technology, AppStream has also expanded their support to include companies wanting to move into the emerging Software-as-a-Service (SaaS) marketplace. AppStream's SaaS offering targets a specific problem most ISV's face today -- enabling their existing Windows based applications for on-demand access on the web. Underscoring the growth potential of SaaS based solutions, a recent survey by McKinsey and Co. and Sand Hill Group showed nearly 21% of senior IT and business executives listed SaaS as the most important software issue facing their company.*

"Our management continues to drive the successful execution of our strategic goals and strong growth," said Mr. Venkataraman. "I am proud to be leading the team in our commitment to innovation in on-demand solutions for application delivery. We believe that virtualization based technology will be the driving force for new solutions in both application and data management in the enterprise or over the internet, finally enabling the promise of simple, service based delivery."

Mr. Venkataraman has more than twenty years industry experience managing, designing and implementing complex software systems. Prior to joining AppStream, Mr. Venkataraman served as Vice President of R&D at Zone Labs where he helped develop the leading personal and distributed firewall technology that is currently installed on over 20 million PCs worldwide. Before Zone Labs, Mr. Venkataraman served as VP of Development at Senterprise and as a senior manager for Autodesk, where he managed software development for e-commerce and e-business solutions. Mr. Venkataraman has a Master of Science degree with a Mechanical Engineering major from Purdue University, Indiana and a Bachelors degree in Mechanical engineering from Madras University, India.

About AppStream

AppStream, Inc. is a leader in on-demand application deployment and management. By combining application streaming with application virtualization technologies, AppStream offers customers the most flexible application management solutions at the most affordable price, with the fastest implementation time. AppStream also enables a Software as a Service (SaaS) business model by transforming any Windows-compatible software application into a service over the internet. AppStream does this through patented on-demand technologies and partnerships with industry leaders. AppStream is headquartered in Palo Alto, CA with offices in Europe, Asia, and the Americas. For more information log onto www.appstream.com.

*McKinsey & Co. and Sand Hill Group survey of 475 senior IT and business executives

Contact Information

  • For Media Inquiries:
    Brad Rowland
    AppStream, Inc.
    650-251-2500

    Lisa Copass
    Stepping Out Communications
    925-253-8445