ASSIA, Inc. Expands Management Team

Names Joe Grady as VP Worldwide Sales, Raymond Ostby as CFO, and Steve Timmerman as SVP Marketing

REDWOOD CITY, Calif.--(BUSINESS WIRE)--ASSIA, Inc., the leading provider of high-performance software tools for Dynamic Spectrum Management (DSM) of Digital Subscriber Line (DSL) networks, today announced that it has added three key executives to its management team. Joe Grady joins as vice president of worldwide sales and leads ASSIA’s sales efforts. Raymond Ostby is named vice president of finance and administration and chief financial officer and heads ASSIA’s finance and administrative functions. Steve Timmerman joins as senior vice president of marketing and directs ASSIA’s marketing and strategy initiatives. All three communication industry veterans report to ASSIA Chairman and CEO, Dr. John Cioffi.

“DSL holds a 70 percent market share worldwide of consumer broadband, and its growth continues to outpace the alternatives”

"Joe, Raymond, and Steve bring to ASSIA an in-depth understanding of ASSIA’s customers and the industry along with extensive experience growing telecommunications software and services companies," said Cioffi. "Their experience, track record, and skill set complement ASSIA’s management and will help fulfill ASSIA’s mission to deliver the broadband future with DSL.”

Grady brings more than 30 years of experience in the development of high-profile products and companies in the telecommunications and high tech industries, as well as relationships with the world's major telecommunications service providers, ASSIA’s current customers. Grady has served as an executive vice president of sales at Excess Bandwidth and Amati Communications. Earlier, he held sales management positions with Newbridge Networks, Racal Data Communications, Octel Communications, and AT&T Paradyne. Grady has a B.S. in Economics and Business Administration from Mount Saint Mary's University.

“ASSIA solves a critical problem for today’s service providers: how to improve the speed, reach, and stability of their DSL networks,” said Grady. “I’m delighted to join a company that provides a compelling solution to this challenge.”

Prior to joining ASSIA, Ostby served as CFO of several companies, including NextG Networks, ArrayComm, KBC Pharma, Quickturn Design Systems, Force Computers, and Atmel. Ostby also held several senior financial management positions at Intel. Ostby serves on the board of directors and as chairman of the audit committee of Trident Microsystems. Ostby has been a Certified Public Accountant and holds a B.A. and an M.B.A. from the University of Montana and has completed Ph.D. coursework in quantitative analysis at the University of California at Berkeley.

“ASSIA has gained significant traction with customers and investors,” said Ostby. “I’m especially pleased with our recent close of a $10 million financing consisting principally of strategic telecommunications service provider investors.”

Timmerman most recently served as vice president of marketing for ShoreTel, where he directed all marketing activities, helped quadruple revenue over 4 years, and served as a core member of the successful 2007 IPO team. Prior to ShoreTel, Timmerman was vice president of marketing for Proxim, where he was responsible for marketing indoor and outdoor wireless networking products. Timmerman also held management positions at Octel Communications/Lucent and McKinsey. Timmerman has a B.S. in Mechanical and Aerospace Engineering from Princeton University and an M.B.A. from Harvard University.

“DSL holds a 70 percent market share worldwide of consumer broadband, and its growth continues to outpace the alternatives,” said Timmerman. “The opportunity to improve the performance and profitability of these networks is tremendous, and I look forward to working with the world-class ASSIA team to unleash the full potential of DSL.”

About ASSIA

ASSIA, Inc. is the leading provider of high-performance software tools for Dynamic Spectrum Management of DSL networks. ASSIA’s products enable DSL service providers to realize dramatic speed and reach improvements, lowering operating and capital expenses, generating incremental revenue, and opening new business opportunities in the broadband-enabled home. ASSIA has more than 23 million lines under management with top tier service providers and is backed by strategic investors, including Mingly China Growth Fund, SFR Development, Sofinnova Ventures, Stanford University, Swisscom Ventures, and T-Ventures. For more information, visit www.assia-inc.com.