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Aconex Names Steve Recht as CFOVeteran of Shutterfly, NetGravity Joins Online Project Collaboration Leader (May 16, 2012)
SAN BRUNO, CA -- (Marketwire) -- 05/16/12 -- Aconex, the world's largest provider of online project collaboration solutions to the construction and engineering industries, today announced that Steve Recht has been appointed to the position of Chief Financial Officer (CFO). Steve brings a 30-year background of diverse operating and finance experience as a CEO, COO and CFO for venture-backed private and public companies.
"Aconex is approaching the end of a record financial year and is positioned for significant continued growth," said Leigh Jasper, CEO of Aconex. "Steve has uncommon breadth of experience in software, e-commerce, hardware and manufacturing, extensive knowledge of M&A, and a track record in leading companies to success in public and private markets. All of this made him an ideal candidate to join us."
Mr. Recht held senior financial and operations roles at noteworthy private and public companies, including Shutterfly and NetGravity Corporation. Mr. Recht was CFO at Shutterfly, where he guided that company's initial public offering in 2006. At NetGravity, Mr. Recht held a range of financial and other responsibilities, oversaw two successful capital raisings, and was closely involved in the $525m merger with DoubleClick in 1999.
"The Software-as-a-service (SaaS) project collaboration platform is being rapidly embraced by the construction and engineering industry and Aconex, as the global market leader, is both driving and benefitting from this trend," said Mr. Recht. "I'm excited to join a strong management team in a company that is poised for execution at the next level."
Aconex is a web-based platform for managing the large volume of information created and exchanged during the lifecycle of a construction or engineering project. Using the secure, central platform, each organization can manage cross-project processes, and access, distribute, track and archive its documents and correspondence in real time. This reduces administrative costs, improves productivity by streamlining the flow of information and reduces exposure to risks such as disputes and delays.
From its 43 offices around the world, Aconex services over US$260 billion worth of construction, infrastructure, energy and resources projects. Projects using the system include the $3.2 billion Panama Canal Expansion, the $6.8 billion Denver Transit Expansion Program and the $40 billion Yas Island development in Abu Dhabi. For more information and examples of Aconex in action, see www.aconex.com. Follow Aconex on Twitter using @aconex and on Facebook at http://www.facebook.com/Aconex.
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