SAN DIEGO, July 19, 2005 (PRIMEZONE) -- IPEX, Inc. (OTCBB:IPEX) (the "Company") announced today that telecom and wireless industry veteran, Jerry Beckwith, has been named Chairman of the Board and Chief Executive Officer. Bringing with him 25 years of operational, executive management, and financial experience at major public companies, Mr. Beckwith will oversee all operations, technology development and strategic planning at IPEX.
Most recently, Jerry Beckwith served as Chief Operating Officer for Savi Technology, Inc., where he oversaw all operational units including global services and manufacturing teams, network solutions and services, engineering, sales and marketing.
Prior to Savi, Mr. Beckwith held various executive management positions, most recently as President of the Wireless Systems Division at QUALCOMM, Inc., an industry leader in cellular and mobile communications. In his role as president, Mr. Beckwith oversaw a number of key organizational changes and carried ultimate responsibility for the Division's sales, marketing, production and development of CDMA cellular infrastructure for domestic and international markets. He also oversaw the Division's Globalstar business unit, managing a $1.4-billion development program for the Globalstar Limited Partnership and driving production and sales of gateways and handsets for the Globalstar system.
Mr. Beckwith will assume the CEO role full-time on August 15. In the interim, Chief Operating Officer, Sothi Thillairajah, will manage the company's day-to-day operations.
"We are proud to announce the addition of such a highly accomplished and proven manager to the IPEX team. Jerry's background at major public companies and his extensive, relevant industry network are perfectly suited to helping IPEX become a leader in this emerging space," said former Chairman of the Board and Interim CEO, Milton "Todd" Ault, III.
"I am delighted to be a key contributor to a company so uniquely well positioned to capitalize on a number of exciting growth opportunities in the telecom and IP industries," said Mr. Beckwith. "IPEX is at a pivotal stage now where it must continue to set the market pace for voice and data IP routing solutions, while properly managing its own operational growth."
Mr. Beckwith began his career with General Dynamics as an electrical engineer, developing portions of the F-16 AIS Test Station. From there, he joined Mostik Corporation, where he was involved in designing multiprocessor systems and products for their VME based product line. He later joined Linkabit Corporation, developing digital cross connect systems and T1 multiplexers used in the telephone industry.
About IPEX, Inc.
IPEX, Inc. operates an electronic market for the exchange of international, IP-based telecom traffic and is developing a peering fabric with ENUM connectivity to terminate calls based on Voice over Internet Protocol (VoIP). The exchange members, primarily consisting of communications service providers, exchange traffic according to route quality and pricing criteria through an interactive, software-based system. IPEX's automated VoIP platform updates, routes and executes its capacity using proprietary software that also invoices and processes payments for its members and provides them dynamic access to routes and related information worldwide. The company is also developing digital imaging technology for use in IP and wireless data transmission that enhances the quality of traditional RGB (red, green, blue) images, while reducing their file size. IPEX, Inc. is based in San Diego, California.
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements. These forward-looking statements can generally be identified as such because the context of the statement will include words such as IPEX, Inc. "expects," "should," "believes," "anticipates" or words of similar import. Stockholders, potential investors and other readers are cautioned that these forward-looking statements are predictions based only on current information and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by the forward-looking statements. Certain of those risks and uncertainties are discussed in the IPEX filings with the Securities and Exchange Commission, including IPEX annual report on Form 10-K and quarterly reports on Form 10-Q. These forward-looking statements are only made as of the date of this press release and IPEX does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.