ATROAD history

http://www.trimble.com/about_companies.shtml

http://www.road.com/

- Trimble $3 billion marketcap , big guy in mobile space is Garmin with $6 billion marketcap . All other are $100 million range , so the mobile space is not that big . It is hardware based commodity business .

http://www.google.com/finance?q=NASDAQ%3ATRMB

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ATRoad lessons:
a) a sales guy like Panu can not build a tech company in an innovative space ( like Mobile resource, GPS ..)
b) you can't build a company on just Sales: Atroad changed one 'VP of sales' for every 1.5 years on average, once the new VP sales power to sell to new customers is exhausted , he is fired new guy is brought in.
c) US financial market are very efficient , board and CEO ( with big stock holders)can mange stock price for some time like an year or so not so long . Wall street will find the real value of the company one way or the other.

- @Road went public in 2000 and was acquired by Trimble in 2006 for $496M ( from one of notes below)
- Under Krish @Road has raised over $225 million and went public on September 28, 2000.
- at IPO stock listed $10 same as IPO price ( since dot com burst started in 2000 ) , then dropped to $2 in 2003 down time
- in recovery tech market in 2005 , it managed to reach top $16 with small group of investors and board manged the stock .
- sold 5 million stocks to one group as secondary offering for $14 that brought $60 million at the peak of the stock ( with manged price of $14 ).
- this $60 million saved the comapany to servive for 2 more years till 2006. from that offering period of 2004 stock dropped slowly from $14 to $5 in 2 year period.
- Trimble bought it in 2007 for $500 million , seems $5 price.
- I think for Trimble sale, main drivers may be the fund that bought stock at $14 and initial founder Rod (who was outsted by Panu after IPO , with the help of new investors and board ). Both may have combined 5 + 5 = 10% holding of company) . they must have fedup with Panus plans and inability to bring stock price UP.


Krish Panu
Tom Allen - VP service delivary ( came from Visa , typical IT department manager )
Kenneth Colby
Leo Jolicoeur
Michael Martini

Mike Walker - Executive Vice President and Chief Technology Officer
asr: this is real one solid engineering guy worked prior in Sierra Wireless inc, Mororolla . Mike was initial guy who worked to first founders Rod etc.. to build company base product ..
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http://www.linkedin.com/companies/galleon-group

Concurrent Elects Krish Panu to Board of Directors
Thursday, November 13, 2008

http://www.istockanalyst.com/article/viewiStockNews/articleid/2795813

Concurrent (Nasdaq: CCUR), a worldwide leader in real-time Linux-based computing technologies, today announced that Krish Panu has been elected to the board of directors, to be seated as an immediate addition as the board expands from five directors to six. He is currently managing partner with The Galleon Group, one of Concurrent’s largest shareholders.

“Mr. Panu’s extensive experience in building successful technology companies combined with his knowledge of the investment community is a tremendous asset,” stated Dan Mondor, Concurrent president and CEO.

Mr. Panu’s professional career includes twenty-four years in technology, where he has built successful businesses which have experienced explosive revenue growth and global expansion while creating multi-billion dollar markets. Prior to joining The Galleon Group, Mr. Panu was chairman, CEO and president of @Road, Inc., a worldwide leader in mobile resource management solutions. Under his leadership, @Road became one of the first profitable “software as a service” companies (SaaS), developing a broad customer base and acquiring and integrating several companies. In February 2007, Mr. Panu successfully negotiated and completed a merger between @Road and Trimble Navigation Ltd. for almost half a billion dollars.

Prior to @Road, Mr. Panu served as vice president and general manager of the Logic Products division of semiconductor manufacturer Atmel Corporation, where he directed the engineering, manufacturing, software development and marketing groups. His management of many of Atmel’s strategic and operational initiatives strongly contributed to the $1 billion revenue growth the company saw during his seven-year tenure. Previous to Atmel, Mr. Panu held executive sales and marketing roles at Catalyst Semiconductor, Datapoint Corporation and Xicor.

Mr. Panu served on the board of directors of PeopleSupport, Inc (NASDAQ: PSPT) until its acquisition by Aegis in October, and currently serves on the board of Liquid Computing, Inc. (privately held). In addition, he serves as president of Panu Foundation, a nonprofit corporation which provides grants to educational institutions and supports healthcare research and other charitable activities around the world.

“Mr. Panu has developed a broad network of relationships in venture capital, investment banking and entrepreneur communities,” said Steve Nussrallah, Concurrent’s chairman of the board. “His extensive experience as a ‘Silicon Valley’ business leader and the success he has achieved in the investment community make him an excellent addition to the board of directors.”

Mr. Panu holds a B.S. in electrical engineering, an M.S. in computer engineering and an M.B.A. from Wayne State University in Michigan.

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Liquid Computing Appoints New Board Member, Krish Panu
Business Wire , Sept 10, 2007

"Liquid Computing is making all of the right moves as a market leader in fabric computing - a seasoned senior management team, a solid business strategy and a ground-breaking virtualization solution that cuts across broad market segments," said Mr. Panu. "LiquidIQ's high performance and flexible virtualized processing, virtualized networking and virtualized IO dramatically reduce the challenges, cost and complexity associated with production-scale datacenter and service provider deployments. LiquidIQ is very complementary with OS virtualization technologies such as VMWare and XEN. When LiquidIQ is coupled with virtualized storage solutions such as offered by EMC, Gartner's long-standing vision of the Real Time Infrastructure (RTI) for the datacenter becomes a practical reality."

Mr. Panu brings more than two decades of business strategy, engineering, and operational experience to Liquid Computing. Most recently, he was Chairman, CEO and President of @Road, Inc., a worldwide leader in Mobile Resource Management solutions. As CEO, he aggressively built @Road into one of the world's first profitable Software-as-a-Service (SaaS) companies. @Road went public in 2000 and was acquired by Trimble in 2006 for $496M.

"We are privileged to have Krish as part of our distinguished board," said Brian Hurley, CEO, Liquid Computing. "His business insight and operational experience in growing innovative technology companies and transforming them into major market leaders will play a vital role as we push forward in our growth strategy."

Prior to @Road, Inc., Mr. Panu served as Vice President and General Manager of the Logic Products division of semiconductor manufacturer Atmel Corporation, where he directed the engineering, manufacturing, software development and marketing groups. During his seven-year tenure, Atmel's revenue grew from approximately $100 million to over $1.1 billion, and the wireless business increased to 42 percent of the company's business. Mr. Panu was also a key member of the management team which raised over $600 million in both stock and bond offerings.

Through his repeated experience in building successful technology businesses, Mr. Panu has developed a broad network of relationships in the investment and business communities. He supports promising new technology businesses as an active angel investor. Mr. Panu holds an M.S. in Computer Engineering and an M.B.A. from Wayne State University in Michigan.

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Krish Panu
Chairman, CEO and President


"@Road has pursued a vision; delivering the easiest-to-use, fastest–to-deploy mobile resource management solution with a very compelling return on investment." - krish quote on website ..


Krish Panu is the @Road President, Chief Executive Officer and Chairman of the Board. Under his leadership @Road has raised over $225 million and went public on September 28, 2000. @Road is a global leader in Mobile Resource Management. In January, 2005, @Road was ranked number one on the Forbes Midas List for 2004, a ranking of the 25 fastest growing publicly traded technology companies in North America. In 2004 Frost & Sullivan awarded @Road the “Mobile Communications Product of the Year.” In 2003 @Road was ranked “Number One Fastest Growing Silicon Valley Technology Company by the Deloitte & Touche Fast 50 Program. In both 2001 and 2002, @Road was named by the Silicon Valley/San Jose Business Journal as one of Silicon Valley’s 50 fastest-growing public companies.

Mr. Panu’s career has spanned more than 20 years in technology companies. Prior to @Road, he served as Vice President and General Manager of the Logic Products division of Atmel Corporation, a semiconductor manufacturer. He was responsible for managing engineering, manufacturing, software development and marketing groups as well as the corporate quality and reliability organization. During his seven-year tenure Atmel's revenue grew from approximately $100M to over $1.1 billion, and the wireless business increased to 42% of the company's business. Mr. Panu was also a key member of the management team which raised over $600M in both stock and bond offerings. Previous to Atmel, Mr. Panu held executive sales and marketing roles at Catalyst Semiconductor, Xicor and Datapoint Corporation, and, in addition, while at Atmel, Xicor and others he has initiated global operations centers around the world.

Mr. Panu is an active angel investor in building technology businesses. As a result of his long, successful experience, Mr. Panu has a broad and deep network of relationships in both the venture capital and entrepreneur communities.

Mr. Panu holds a B.S. in Electrical Engineering, an M.S. in computer engineering as well as an M.B.A. from Wayne State University in Michigan.

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