SOURCE: Gary L. Fischer Consulting

September 18, 2014 17:04 ET

Gary L. Fischer Helps eRide; Caps 8 Plus Years

SAN JOSE, CA--(Marketwired - September 18, 2014) - "Helping Others Succeed", a business consulting practice operated by Gary L. Fischer, CFO, announced today that Mr. Fischer finished off eight plus years with eRide, a startup developing GPS software and hardware. 

Mr. Fischer joined eRide in late 2005 as CFO and was quickly instrumental in raising their Series A Preferred of $10M, of which $8M came from two industry partners. In 2008 Mr. Fischer closed on a $13.5M loan from a company looking to acquire eRide. Later, in 2009, Mr. Fischer helped the founders sell the company to Furuno Electric Company, a public company in Japan with solid market presence in navigation. After completing the acquisition, Furuno asked Mr. Fischer to stay on with eRide as half time CFO which gave rise to Helping Others Succeed, the consulting practice founded and operated by Mr. Fischer. In addition to continuing with eRide, various engagements include M&As, executive coaching and Organizational Development, equity and debt financings for startups, hands-on detailed CFO work over a broad range of software and hardware companies and more.

In 2013 Furuno, after absorbing and transferring the eRide technology back to Japan, began an orderly closure of eRide which was concluded in 2014. Mr. Fischer negotiated with Furuno for an extension to the termination of the team by explaining that if he could help the team to find a new job as a group, a general sense of good will would color the exit path and benefit Furuno. Mr. Fischer was able to secure team-wide interviews for the engineering group at two prestigious global companies, both of which made offers to the individual eRide employees. 

"One of my personal values is to help others and this was a huge, huge opportunity to live out this value and simultaneously live out the name of my consulting company. I consider it one of my greatest career achievements and the team I helped thought it was just awesome. On the day we informed them that Furuno was closing us down I was also able to announce that they already had interviews at one company and the other would arrive on site the next day to present to the team and set up interviews. In the end, almost everyone got a job at one of these firms and those who did not declined to interview or declined the offer that was extended. Everyone left with a smile and a hope. Furuno was grateful that they agreed to give me the chance to pull this off."

Gary L. Fischer, based in Silicon Valley, has worked extensively in Asia and Europe. He has taken two companies public, led three public secondary offerings and has been involved in numerous private financings of equity and debt. He has solid experience in M&A, including the sale in 2009 of eRide where he began serving as CFO in 2005. He continued as a part time CFO with eRide after the acquisition and began his consulting business. Helping Others Succeed provides CFO consulting services, organizational development, executive coaching, M&A hands-on due diligence, M&A closings and other business and financial projects. He receives high marks for his achievements but prides himself at being "hands on" (he still changes the oil in his car!) Prior to eRide Mr. Fischer joined ISSI in 1993, took it public in 1995 and subsequently was appointed President and COO of the company. Mr. Fischer's complete bio is listed on LinkedIn. 

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