IRVINE, Calif., Jan. 28, 2014 (GLOBE NEWSWIRE) -- AllDigital Holdings, Inc. (OTCBB:ADGL), recently recognized as one of Streaming Media Magazine's "Streaming Media 100," which honors the most innovative and influential companies in the online video industry, has announced the addition of a new member to its executive team – Michael Linos as executive vice president of sales. Linos will oversee all aspects of AllDigital's sales and business development functions and will serve on AllDigital's Board of Directors.
"In addition to our recent hires of Barbara Crofts as CFO and Brad Eisenstein as COO, we continue to build a world-class executive management team," said Paul Summers, chairman and CEO of AllDigital. "I worked closely with Michael at VitalStream where he helped build a scalable team of sales professionals, built an amazing network of strategic partners and helped position the company for a transition to NASDAQ and ultimate sale. I'm deeply honored that Michael would join our team as a director, investor and senior executive. His leadership will be instrumental in our strategy to establish AllDigital as the leader in providing ultra low latency ("ULL") solutions to the digital broadcasting industry."
Linos helped NTT/Verio create and grow their enterprise hosting sales organization nationwide, delivering $50M in annual revenue. His strong experience in sales includes taking VitalStream from $5M to $20M in sales in less than two years, and leading the sales team at BandCon with over $20M in revenue before the company was acquired by Highwinds. He started his career at IBM as a sales representative, selling technology solutions to Fortune 500 companies.
"I'm extremely excited to work again with Paul Summers, Tim Napoleon and Steve Smith at AllDigital and have the chance to serve as a member of the senior leadership team," said Linos. "I'm looking forward to strengthening AllDigital's sales channels and enhancing its leadership position in the digital broadcasting space."
Co-founder and Chief Strategist Tim Napoleon added, "I had the pleasure to work for Michael at VitalStream, where we successfully launched strategic initiatives that rapidly grew client count and recurring revenue. I look forward to working with him again as we continue to focus on our content management system with an eye towards industry-leading low latency content delivery metrics."
Steve Smith, co-founder and vice president of network services, stated, "He has the proven experience and vision to build a highly scalable sales and business development team."
Linos has a BS from the University of Dayton and an MBA degree from Northwestern University.
Concurrent with entering into an executive employment agreement with AllDigital, Linos purchased 2.25 million shares of AllDigital's common stock from AllDigital at a price of $0.15 per share. In addition, he directly purchased 1 million shares from Tim Napoleon at $0.15 per share and 500,000 shares from Steve Smith at $0.15 per share. Under the terms of his employment agreement, Michael will be granted 1 million shares on each of the first and second anniversaries of his employment. Those grants will be accelerated at Michael Linos' election if AllDigital is sold for more than $10 million in consideration.
This release may contain forward-looking statements as well as historical information. Forward-looking statements, which are included in accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, may involve risks, uncertainties and other factors that may cause AllDigital's actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this release. These risks and uncertainties include, without limitation, whether AllDigital will be established as the leader in providing ultra low latency solutions to the digital broadcasting industry and whether AllDigital will enhance its leadership position in the digital broadcasting space. In addition, other risks are identified in the Company's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the SEC. Such forward-looking statements speak only as of the date of this release. The Company expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in company expectations or results or any change in events.
About AllDigital: AllDigital Inc., a leader in digital broadcasting solutions, is the developer of AllDigital Cloud, a content management system (CMS), focused on the virtualization of digital content. AllDigital Cloud empowers enterprises to stream content across multiple devices including mobile, desktop and digital television, providing total control over the global distribution of digital media assets. Mainly serving media and entertainment companies, enterprise brands, non-profit and government organizations, AllDigital sets itself apart by offering highly scalable and ultra-low latency (ULL) digital broadcasting solutions, including cloud storage, origin transit, content management solutions, integration services and related customer support. AllDigital Cloud can be used as a cloud-based service or as an on premise content management tool to power private- or public-facing virtual digital broadcasting networks with high-speed data transfer, scalable storage, encoding / transcoding, VoD and linear programming, and real time reporting. For more information on AllDigital, please visit http://www.alldigital.com/.
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