SAN JOSE, CA--(Marketwire - Feb 28, 2013) - Ubiquiti Networks, Inc. (NASDAQ: UBNT) ("Ubiquiti"), a next-generation communications technology company, today announced that Craig Foster will join the company as Chief Financial Officer, effective March 4, 2013. Mr. Foster will report directly to Founder, Chairman and Chief Executive Officer Robert J. Pera.
"Craig brings a compelling combination of financial and operating experience and a deep understanding of Ubiquiti's business. He will play a key role in shaping overall strategy and creating the operational foundation to expand our business into new markets," said Mr. Pera.
"I am thrilled to join Ubiquiti at such an exciting time for the company and the industry," said Mr. Foster. "Ubiquiti's disruptive technology is opening up new markets for Internet services where it wasn't possible before. Ubiquiti's unique operating model parallels my core beliefs on how companies should be optimized for growth and profitability. I look forward to working with the team to strengthen and expand this transformational business and help drive the next phase of growth."
Mr. Foster joins Ubiquiti from Credit Suisse where he served as a director in the investment banking group focused on technology infrastructure and software from June 2012 to February 2013. From August 2007 to June 2012, he worked at UBS investment bank as an Executive Director, and most recently as the co-head of the software group. During his investment banking career Mr. Foster completed over $6 billion of investment banking transactions, including the initial public offering of Ubiquiti Networks in October 2011.
Prior to banking, Mr. Foster was an early employee of Loudcloud, Inc. and held a number of management positions in product management, business development and finance. He also held various positions at RBC Capital Markets, Open Market, Deloitte Consulting, and PriceWaterhouseCoopers.
Mr. Foster holds an M.B.A. in Finance from the Wharton School of Business and a B.A. in Economics from the University of California, San Diego.
About Ubiquiti Networks
Ubiquiti Networks (NASDAQ: UBNT) is closing the digital divide by building network communication platforms for everyone, everywhere. With over 10 million devices deployed in more than 180 countries, Ubiquiti is transforming under-networked businesses and communities. Our leading edge platforms airMAX™, UniFi™, airFiber™, airVision™, mFi™ and EdgeMAX™ combine innovative technology, disruptive price performance and the support of a global user community to eliminate barriers to connectivity. For more information, join our community at http://www.ubnt.com.
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