SOURCE: SpaceClaim


August 11, 2009 09:00 ET

SpaceClaim Appoints Gregory Stott as Chief Financial Officer

Brings Significant Strategic Global Financial Expertise, Including Financing and M&A

CONCORD, MA--(Marketwire - August 11, 2009) - SpaceClaim, provider of the world's fastest and most innovative 3D Direct Modeling solutions, today announced the appointment of Gregory Stott as Chief Financial Officer. Stott brings more than 20 years' experience in strategic financial positions for global technology firms.

"SpaceClaim has identified a growing market opportunity in 3D Direct Modeling and the Company's momentum validates that engineering organizations are looking for better solutions for support of engineering, analysis and conceptual design," said Stott. "SpaceClaim has a world-class team, and I look forward to being part of the next phase of the Company's growth."

Most recently, Stott served as the founding CFO of Covergence, where he drove strategic relationship agreements, funding rounds, and the sale of the Company to Acme Packets. Prior to Covergence, he held the position of Vice President, Finance, Administration and Treasurer for Telica, a VoIP switching products company. Stott was part of the leadership team that negotiated and executed the sale of the Company to Lucent Technologies. Stott started his career as a certified public accountant at Arthur Young & Company, and is a member of the American Institute of Certified Public Accountants. Stott is a graduate of Bentley College and holds an MBA from Nichols College.

"We continue to expand our global customer and partner relationships successfully -- in fact a recent survey of our customers showed that more than 90 percent have recommended SpaceClaim to colleagues," said Chris Randles, President and CEO of SpaceClaim. "Our success is due to the highly talented team of engineers and managers at SpaceClaim. We welcome Greg and know his experience in building venture-backed technology companies will be extremely valuable as we continue to develop our products and channels, and advance 3D Direct Modeling within engineering organizations."

As CFO of SpaceClaim, Stott will be responsible for all financial, legal, and other administrative operations within the Company.

In recent weeks, SpaceClaim has announced a major OEM win with water jet technology leader Flow International Corporation; was selected by Microsoft® as one of a few Independent Software Vendors (ISVs) to support the launch of Windows 7; demonstrated the ability for engineers and designers to leverage Windows Touch to manipulate solids models on-screen using touch and gestures; and announced new enhancements to the Company's 3D Direct Modeling solutions.

SpaceClaim's 3D Direct Modeling solutions include SpaceClaim Engineer and SpaceClaim Style and represent the most significant advancement in 3D engineering in more than 10 years. These direct modelers enable engineers to work in 3D and engage in conceptual design, engineering analysis, and simulation-driven design.

About SpaceClaim Corporation

SpaceClaim provides the world's fastest and most innovative 3D Direct Modeling solutions. SpaceClaim has created a quantum leap in engineering productivity, enabling 3D solid modeling that is accessible to everyone from power users and engineers to part-time designers. Global customers include Nokia Siemens Networks, BorgWarner, Medtronic, Lotus Cars, Sharp, K2 Medical Systems, FuelCell Energy, Emhart Glass, GE Aviation, General Dynamics, and the U.S. Navy. SpaceClaim is privately held and backed by Borealis Ventures, Kodiak Venture Partners, and North Bridge Venture Partners. For more information on SpaceClaim, please visit:

SpaceClaim is a registered trademark of SpaceClaim Corporation. All other names mentioned herein are either trademarks or registered trademarks of their respective owners.