SOURCE: Synacor, Inc.

Synacor, Inc.

September 15, 2011 08:00 ET

Synacor Names Bill Stuart Chief Financial Officer

BUFFALO, NY--(Marketwire - Sep 15, 2011) - Synacor, the market leader powering next-gen portals and TV Everywhere (TVE) services, today announced the appointment of William J. Stuart as Chief Financial Officer. Stuart is an accomplished business leader with demonstrated success as the CFO of publicly and privately held technology companies. He will report to Synacor President and CEO Ron Frankel and join the talented executive team leading one of the fastest growing privately held companies in the technology industry.

Stuart is a tech and telecom veteran, experienced in private equity financing, public company financial leadership and governance, mergers and acquisitions, and navigating the complexities of capital markets. Throughout his career, he has played a key role in leading private and public companies through rapid growth and transition.

"Synacor has experienced significant revenue growth and is on track to continue and accelerate that growth trajectory. The company reaches 30 million consumers via portals built for cable, satellite, telco and consumer electronics companies, and is a pivotal player in the growing TV Everywhere phenomenon," said Stuart. "Synacor delivers products and services that enhance the consumer experience -- ultimately increasing subscriber loyalty and revenue for our clients. I'm delighted to join Synacor at such an exciting time."

Most recently, Stuart served as CFO for Avici Systems, a publicly held supplier of core routers to ISPs, where he led the transition of the company from a hardware supplier to a software company re-branded as Soapstone Networks. Prior to that, Stuart was a partner at Still River Funds, a Boston-based venture capital firm. Previously, he was CFO for publicly held Telco Systems, and as CFO led the sale of two privately held telecom equipment suppliers, NetCore Systems and Broadband Access Systems. Stuart earned his Bachelor's Degree in Political Science from Boston College and his MBA from Northeastern University. He also attended the Executive Education Program at IMD in Switzerland.

"We're pleased to have Bill Stuart join Synacor's executive team as CFO," said Ron Frankel, President and CEO of Synacor. "Bill's experience navigating private equity and capital markets becomes increasingly important as Synacor continues its rapid-pace growth while expanding offerings and investing in new opportunities to deliver online entertainment to consumers including TV Everywhere."

About Synacor
Synacor powers next-gen portals and TV Everywhere services reaching over 30 million high-speed Internet subscribers worldwide. Synacor clients -- cable, telecom and satellite providers, and consumer electronics companies -- use Synacor's best-of-breed technology solutions to deliver video, news, gaming, sports and other value-added services, including Geek Squad technical support, across multiple digital platforms. Synacor's innovative technology platforms enable its partners to quickly adapt to the evolving online landscape, driving consumer engagement and generating new revenues through search, content distribution, advertising, value-added services and e-commerce. Synacor is headquartered in Buffalo, NY. For more information please visit www.synacor.com.

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