14.07.15

Investors join Pexip board of directors

Pexip has announced that John Wylie has joined the board of directors and invested in the company. He joins at the same time as Espen Fjogstad, chairman of Pexip's leading investor Stavanger Venture. Wylie and Fjogstad will further strengthen Pexip's board and position the company for future growth and success.

Wylie was elected a board member of Pexip on June 22. At the same time, he made an equity investment of USD 5 million in the company through a private placement, taking the total equity raised by Pexip to USD 30 million.

Wylie has served as managing director of Credit Suisse First Boston Australia from 1994 to 1999, before forming Carnegie Wylie, an investment boutique firm, in 2000 that was acquired by Lazard in 2007. He has since served as CEO of Lazard Australia until he stepped down in 2014 to form a new investment firm.

Wylie brings a wealth of experience in venture investments, business management, and leadership worldwide, and will take an active role in the company's strategic direction through
his ownership position and role as a Director of the Board.

Fjogstad brings a wealth of experience in entrepreneurship and venture investments, having been a founding member of numerous successful companies such as Global IP Sound (acquired by Google in 2010), Sonorit (acquired by Skype™/eBay in 2006) and CrudeCorp (listed on OSE in 2012). Through Stavanger Venture, Fjogstad has been the leading investor in Pexip since its inception in 2012.

Electing Fjogstad to serve on the Board of Directors formalizes the already strong relationship, and greatly contributes to position Pexip for future success, enabling the company to capitalize on his formidable experience.