SOURCE: Penguin Computing

May 04, 2005 11:00 ET

Penguin Computing Enlists Seasoned SVP and CFO to Guide Company Growth

Deep Financial Expertise Gives Penguin Hands-On "Business Builder"

SAN FRANCISCO, CA -- (MARKET WIRE) -- May 4, 2005 -- Penguin Computing announced today that Frank Mattson joined the company as senior vice president (S.V.P.) and chief financial officer (C.F.O.) effective immediately. Mattson brings over 27 years of varied and in-depth financial experience in several successful public and venture capital-backed, high technology companies. In his new role at Penguin Computing, Mattson will oversee the Company's finances and assume operational responsibility for information technology and human resources as he helps guide the Company through its planned aggressive growth in the enterprise server and clustering market segments.

"Frank's background is building businesses so I know that he will be a huge asset to Penguin as we move forward with our expansion," said Enrico Pesatori, chairman and chief executive officer, Penguin Computing. "Frank is a hands-on financial leader who knows what needs to be done to make a company successful. His past successes really speak for themselves -- such as his leadership as C.F.O., president and chief operating officer of Scientific Learning, where he steered the company from a privately-held, pre-revenue start up through its initial public offering (IPO) to positive cash flow."

"As S.V.P. and C.F.O., Frank brings much more to a company than simply financial acumen," said Sheryle Bolton, former chairwoman and chief executive officer of Scientific Learning. "Frank has an extremely strong operational background with young and rapidly growing companies like Scientific Learning, and with large companies like Ingram Entertainment. It is a great combination that allowed Frank to play a key role in our company's growth."

Before joining Penguin Computing, Mattson consulted with several technology companies on financial and operational strategies and business planning. From 1997 to 2002, Mattson helped grow Scientific Learning Corporation as C.F.O. -- and ultimately president and chief operating officer -- securing private financing from Warburg Pincus LLC and completing an IPO with Merrill Lynch, Thomas Weisel Partners and Pacific Growth Equities. Prior to Scientific Learning, Mattson held several key financial and operational roles including executive vice president, C.F.O. and member of the Board of Directors at MusicNet, a pioneer in interactive media and e-commerce, backed by top-tier venture firms including Kleiner Perkins Caufield and Byers and The Mayfield Fund.

Prior to MusicNet, Mattson held senior financial and operational positions at Ingram Entertainment and Commtron Corporation, the leading distributors of home entertainment and consumer electronics products with combined sales of $900 million. He served on the Board of Directors of Commtron, a public company. His significant achievements included managing Commtron's rapid growth from $150 million to more than $600 million in sales in four years, helping complete an IPO led by Bear Stearns, helping negotiate the merger of Commtron and Ingram Entertainment and leading the post-merger integration of the combined companies. Mattson has a B.A. in Business (Accountancy) from Miami University (Ohio) and a M.A. in Economics from the University of Wisconsin-Milwaukee. He has recently served as a mentor in several business plan competitions at the University of California at Berkeley Haas School of Business graduate program.

"Penguin Computing is operating in a large market that is moving very fast -- which presents a huge market opportunity for the company and a very exciting professional opportunity for me," commented Frank Mattson, S.V.P. and C.F.O, Penguin Computing. "But even more importantly, Penguin has a world-class team of people. In a competitive market -- and one that is getting more competitive every day -- it all comes down to the people. The company with the best, most solid team will win and I want to be part of that."

About Penguin Computing

Penguin Computing is the leading innovator of highly scalable, powerful Linux cluster, server and workstation platforms based on open standards hardware and software. The company has focused 100% on Linux since its inception and as a result, its solutions are robust and reliable, with a price/performance that's hard to beat. Scyld Software, a subsidiary of Penguin Computing, provides the industry leading Linux clustering software, Scyld Beowulf™, whose superior ease of use dramatically simplifies the deployment and management of Linux clusters. The company's extensive customer base includes Fortune 1000 companies, government agencies and educational institutions. Founded in 1998, Penguin Computing is headquartered in San Francisco, California. To learn more about HPC and Linux clustering, please visit Penguin Computing at http://www.penguincomputing.com and Scyld Software at http://www.scyld.com.

Penguin Computing is a registered trademark of Penguin Computing, Inc. Scyld Beowulf is a trademark of Scyld Software Corporation. Linux is a registered trademark of Linus Torvalds.

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