Time Domain Names Paul Reitmeier Chief Executive Officer
Siemens Veteran Brings 30 Years of Proven Leadership and Management Experience within the High Technology and Services Business Sectors
Huntsville, Alabama - March 17, 2008 - Time Domain Corporation, (www.timedomain.com), a leader in precision ultra wideband (UWB) real-time location systems (RTLS), today announced that Paul Reitmeier has joined the company as chief executive officer. Reitmeier will lead the company's growth in commercial applications for its high-performance UWB and dual-mode precision RTLS solutions in the healthcare, manufacturing and retail markets.
Reitmeier brings more than 30 years of senior management experience to Time Domain having recently led three separate Siemens business units in the U.S. and in Germany since 2000: Siemens Enterprise Services; Siemens Home and Office Communications; and Siemens Carrier Services, respectively. Reitmeier also held general management, sales, marketing and product management positions at various Siemens AG subsidiaries in the U.S. from 1987 until 1998. He was previously president of Inacom Communications, (a subsidiary of Inacom Corporation), the largest, two-tier distribution partner of Lucent Technologies' (now AVAYA) enterprise communications applications systems and services. Reitmeier began his career in technology with Motorola Communications & Electronics in sales and later held senior management responsibilities at NEC Corporation.
"I am excited and honored to assume the CEO responsibilities for Time Domain," said Reitmeier. We have a passionate team and a diverse, growing partner network. Together we are committed to creating market momentum and adoption of our UWB-based RTLS solutions. The Time Domain PLUS portfolio and enabling services deliver tangible productivity and process improvement, as well as enhanced asset tracking and management to the public and private sectors. The company's patent leading PulsON UWB precision location technology is at the core of our offerings."
"Paul's demonstrated track record in achieving profitable growth through operational excellence, combined with his dedication to forge strong partner and customer relationships makes him the ideal person to lead the next phase in Time Domain's continued growth," said Kneeland Youngblood, managing partner of Pharos Capital, and the chairman of the board of directors of Time Domain Corporation.
About Time Domain Corporation Time Domain is the world leader in ultra wideband (UWB) product development and provides solutions that enable enterprises to maximize productivity of their people and assets using a real-time location system (RTLS). Our products and professional services deliver "Precise Location for a World in Motion" to the healthcare, retail, and other vertical markets and are sold and supported through a network of certified channel partners. Time Domain's new Precision Location UWB System (PLUS) products are powered by the innovative PulsON suite of UWB technologies, which are also available for strategic OEM integration. For more information, please visit www.timedomain.com. Pharos Capital Group, LLC, www.pharosfunds.com, of Dallas, Texas and Nashville, Tennessee is Time Domain's largest venture capital investor.
About Pharos Capital Group, LLC
Based in Dallas and Nashville, Pharos Capital Group currently has $500 million in capital under management through three private equity funds. Pharos primarily invests in companies seeking later stage equity funding for internal growth, acquisitions, management buyouts or recapitalizations across industry sectors, with particular focus on healthcare, business services, and applied technology. To learn more about Pharos Capital Group, LLC, please visit www.pharosfunds.com.
Kim Novino
Bridgeman Communications
P: 617-742-7270
E: kim@bridgeman.com
