SOURCE: Openet

June 25, 2008 05:00 ET

Openet Appoints Chief Financial Officer

Eoghan Donnelly Joins Openet's Executive Team to Drive Financial Roadmap

DUBLIN, IRELAND--(Marketwire - June 25, 2008) - Openet, a provider of Transactional Intelligence solutions for the world's largest and most innovative service providers, today announces the appointment of Eoghan Donnelly to chief financial officer. Donnelly has served as the Company's financial accountant since September 2006.

Though its FusionWorks Platform™ solutions, Openet plays a key role in Tier 1 customer innovation and implementation of next-generation services. In recent months, the Company has made a series of announcements, continuing to advance customer revenue and service opportunities. With this rapid product innovation, Donnelly's role will be crucial as Openet enters the next phase of growth and expansion.

"With the service provider market poised for explosive growth, the demand for Openet's Transactional Intelligence solutions will continue to rise," said Niall Norton, CEO of Openet. "As CFO, Eoghan will be at the helm of the Company's financial growth as we roll out an aggressive strategy. He has served as a leader and integral component of Openet's success in his role as financial accountant, and will continue to do so in this key executive role."

Prior to joining Openet, Donnelly was the financial reporting manager and dealt with regulatory compliance issues at O2 Ireland. In addition, he has held positions at the International Financial Services Center and the Isle of Man. Donnelly trained with Horwath Bastow Charleton, and is a Fellow of the Institute of Chartered Accountant in Ireland. He holds a bachelor's degree from University College Dublin.

"As a leader in the market, Openet's growth and success are a direct result of its seasoned leadership team," said Donnelly. "Openet has put a stake in the ground with its commitment to continual innovation. I look forward to helping drive the Company's growth as its products prove to be 'must haves' for the who's who of telecom."

About Openet

Openet is a leading worldwide provider of event processing and transaction management solutions. The Transactional Intelligence of the company's solutions extracts increased value from diverse service provider networks, enabling rapid introduction of new services and reliable, cost-effective management of existing services. Openet is focused on delivering best-in-class network edge solutions and specialized engagement processes that create business value from network activity. A global company, Openet's implementations include long-running engagements with the world's leading service providers such as BT, Orange, at&t and Verizon Wireless. For more information, visit www.openet.com.

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