NEW YORK, NY--(Marketwired - Jan 20, 2016) - Bayshore Networks®, the cybersecurity leader for the Industrial Internet of Things, today announced that veteran software industry CEO and entrepreneur Michael Dager has joined the Company as Chief Executive Officer, effective immediately.
Dager brings more than two decades of experience in senior-level management positions at leading technology companies, most recently Arxan Technologies, Inc., a leader in subscription-based Mobile Device Security. In his nine years as CEO at Arxan, Dager raised $29M in venture financing, took a new product to market, consistently drove 100% year-on-year growth, and guided the Company to an exit at a nine-figure sales price.
"Mike's outstanding track record as a CEO for companies in adjacent market spaces was a key attribute for our Board of Directors," said Francis Cianfrocca, Bayshore Founder, Inventor and Chairman of the Board, who will assume the title of Chief Scientist. "Bringing Mike onboard is a critical first step in a year of aggressive expansion and growth that we are planning for 2016."
"Mike Dager is recognized as an established leader in the cybersecurity industry," remarked John McNulty, Bayshore Board member and former CEO of Secure Computing. "His background and accomplishments are a natural fit for Bayshore and he is the ideal executive to help us attain our goals. We are excited for him to get started."
"I am thrilled to be joining the team at Bayshore Networks as it positions for growth in the exciting Industrial Internet marketplace," said Dager. "Bayshore has the technology, the customer base, and the market potential to reach great heights."
About Michael Dager
Prior to joining Bayshore, Dager was CEO of Arxan Technologies, which provides application protection and hardening in the Mobile Device Security space. In his nine years at Arxan, he raised $29M in venture financing and eventually sold the Company to TA Associates, a leading private equity firm. The event produced a ten-fold return for investors and liquidity for all managers and employees. He stayed on as CEO for two years after the acquisition to maintain stability, continue growth and profitability.
Dager built Arxan from a grass roots startup with no commercial revenue into a large, profitable organization and a recognized market leader. He hired the entire executive team, identified potential markets and created commercial products to successfully penetrate those markets. With his guidance, the Company experienced 14 consecutive quarters of 100% growth over the prior year's quarter and 13 consecutive quarters of profitability.
Dager was previously CEO & Chairman of the Board of Worksoft and President & CEO of OSE Systems Inc. (acq. ENEA). Prior to OSE Systems, he held senior sales management positions at Pure Software (acq. RATL). Dager began his career at Texas Instruments in the semiconductor division. He earned his BSEE degree from the University of Michigan. He has served on the Engineering Advisory Board of the Engineering School at UM since 2007.
About Bayshore Networks
Bayshore Networks®, named a Gartner Cool Vendor and SINET 16 Innovator for 2015, is the cybersecurity leader for the Industrial Internet of Things. The Company's award-winning, patented Bayshore IT/OT Gateway™ software unlocks the power of the Industrial Internet by enabling industrial applications and data. It provides Fortune 1000s with unprecedented visibility into their Operational Technologies, safely and securely protecting industrial applications, networks, machines and workers. http://bayshorenetworks.com.
Contact Information:
Evan Birkhead