NEXX Systems Names Tom Walsh as CEO and President

BILLERICA, Mass.--(BUSINESS WIRE)--NEXX Systems Inc., a leading provider of process equipment for advanced wafer level packaging applications, today named Tom Walsh, PhD, as the company's President and Chief Executive Officer. Walsh, whose career spans over 20 years in the semiconductor and semiconductor equipment industry, brings a proven track record of accomplishments in building and leading growth businesses, as well as technology development. Richard Post will continue as Chairman of the Board.

"Tom comes to NEXX with the right background and business experience to lead NEXX to its next level of business growth as it continues to extend its leadership position in wafer level packaging," said Post. "I don't think we could have found a better person as our new CEO. And the timing is perfect, as we have just completed a very strong bookings quarter driven by record orders for NEXX’s Stratus electroplating tool."

Added Walsh, "I am excited to join NEXX. The company has assembled an excellent team, built a strong customer base, and has an exceptional set of products in its Apollo, Nimbus, and Stratus tools. Right now, NEXX is poised to move solidly forward to market leadership in wafer level packaging. I look forward to leading the business to its next level of success."

Walsh’s appointment as President and CEO follows the September closing of a $10.7 million equity financing round that gives NEXX Systems additional financial strength as it moves into a new phase of enhanced growth. Walsh joins NEXX from Novellus Systems. Prior to Novellus, he held a variety of senior positions at IBM in product management, manufacturing, and product development.

NEXX Systems brings exceptional products and technical expertise to flip chip and advanced packaging. Our product lines provide the most efficient, yet affordable, systems of their kind: Apollo and Nimbus for multi-layer sputter deposition of metals and Stratus for high throughput electro-deposition of metals. Additional information can be found at: www.nexxsystems.com.

“Safe Harbor” statement: This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding future events or the future performance of NEXX Systems. These statements are only predictions. Actual events or results may differ materially from those in other forward-looking statements set forth herein. Among the important factors that could cause actual events to differ materially from those in other forward-looking statements are potential fluctuations in quarterly results, dependence on new product development, rapid technological and market change, acquisition strategy, manufacturing and sourcing risks, volatility of stock price, international operations, financial risk management, and future growth subject to risks. NEXX Systems is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.