SOURCE: Symbio Group

August 19, 2008 11:15 ET

Robert E. Grady Joins Symbio's Board of Directors

Global Leader in Venture Capital With Extensive Investing, Capital Markets and Government Experience

ROCKVILLE, MD--(Marketwire - August 19, 2008) - The Symbio Group ("Symbio"), a leading provider of software development, testing, and globalization outsourcing services, announced today that Robert E. Grady, a Partner and Managing Director at The Carlyle Group, one of the world's leading private equity firms, has joined the Company's Board of Directors. In addition to his extensive experience as a venture capitalist, investment banker, and public official, Mr. Grady brings wealth of contacts and relationships in the technology and investment communities globally.

At Carlyle, Mr. Grady is the Chairman of Carlyle Venture Partners ("CVP"), which invests in high growth technology, medical device and business services companies. He has served as global coordinator of and helped to build Carlyle's global venture capital and growth investing operations, which today are comprised of over $4.2 billion in assets under management in 9 funds. Mr. Grady is a member of the Investment Committees of CVP, Carlyle Asia Growth Partners and Carlyle Europe Technology Partners. Carlyle has been an active venture and growth capital investor for over a decade, and has made over 80 venture and growth capital investments in the U.S. and over two dozen in China.

Mr. Grady is a director of Maxim Integrated Circuits (PINKSHEETS: MXIM) and AuthenTec, Inc. (NASDAQ: AUTH), and a former director of Blackboard (traded on the NASDAQ under the symbol "BBBB") and Ingenio (sold to AT&T, traded on the NYSE under the symbol "T"). He also serves on the boards of directors of several privately held Carlyle portfolio companies, including eScreen, Panasas, Verari Systems, Secure Elements, Wall Street Institute, Viator, and The Health Central Network. Mr. Grady also served as a director and was Chairman in 2006-2007 of the National Venture Capital Association ("NVCA").

"We are very excited to have such an active leader in the venture capital business and a person with extensive connections in business and government around the world joining our Board of Directors," commented Jacob Hsu, Symbio's CEO. Mr. Hsu continued, "Bob Grady has vast experience in working with emerging growth companies and helping them to achieve their goals. We know that Bob can help us build our business and identify strategic opportunities for growth."

"I am delighted to join the Symbio team in building a global leader in cross-border IT services," Mr. Grady said. "The market for China-based IT services is growing, the Chinese government has declared it a priority, and Symbio is one of the market leaders. I am excited to help Symbio's young, intelligent and energetic management team grow their business to the next level as the market expands and the globalization of business continues," he added.

Prior to joining Carlyle, Mr. Grady was a Managing Director and Member of the Management Committee at Robertson Stephens & Company, a leading technology investment bank, at which he served as the lead investment banker on over 150 public market financing and M&A transactions. He served in the White House as Deputy Assistant to former President George H.W. Bush and as Executive Associate Director of the White House Office of Management and Budget ("OMB"). He also served as the Chief Speechwriter and policy advisor on the successful 1988 Bush presidential campaign, and as a chief aide to a Governor (Thomas H. Kean of New Jersey) and a U.S. Congresswoman (Millicent Fenwick of New Jersey). From 1994-2004, he served on the faculty of the Stanford Graduate School of Business, teaching courses on environmental policy, regulation, and "Investing in Highly Regulated Industries."

Mr. Grady earned an A.B., cum laude, from Harvard College, and an M.B.A. from Stanford University's Graduate School of Business.

In addition to his many corporate leadership roles, Mr. Grady has contributed in a broad range of public service activities. He is a member of the National Commission on Energy Policy, an Advisory Trustee of the Environmental Defense Fund, and a member of the Council on Foreign Relations. He was appointed by President Bush to the Advisory Committee on Trade Policy and Negotiation ("ACTPN"), by California Governor Arnold Schwarzenegger to the California Commission on Military Base Restructuring and Realignment, by the Administrator of NASA to the Blue Ribbon Commission on the Management of the International Space Station ("ISS"), and by the Secretary of the Smithsonian Institution to the Commission on the Future of the Smithsonian.

Concurrent with Mr. Grady's joining Symbio's Board, he has made an equity investment in Symbio.

About Symbio

Symbio leverages China outsourcing teams to help companies become global leaders. It helps organizations accelerate their software development and testing cycles by optimal application of its global resources and delivery models. Symbio also localizes and supports technology products for any language or locale. Founded in 1994 by a group of engineers from IBM's international research and development labs in Asia, Symbio now functions as a cost-effective and highly efficient extension of an organization's development, testing and globalization teams. Symbio's clients include IBM, Electronic Arts, Microsoft, Citigroup, AOL, BMC, Computer Associates, and many more. For further information on Symbio, visit www.symbio-group.com.

Contact Information

  • For more media information, contact:
    Lisa Hendrickson
    LCH Communications for the Symbio Group
    Email Contact
    516-767-8390