SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 25, 1998
CASTELLE
(Exact name of registrant as specified in its charter)
California 0-220-20 77-0164056
(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
3255-3 Scott Boulevard
Santa Clara, California 95054
(Address of principal executive offices)
Registrant's telephone number, including area code: (408) 496-0474
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Item 5. Other Events.
On November 25, 1998, Castelle issued a press release announcing the
appointment of Donald L. Rich as president and chief executive
officer.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
Exhibit Number Description
99.1 Press Release issued November 25, 1998
2
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
CASTELLE
Dated: November 25, 1998 By: /s/ Randall I. Bambrough
------------------------
Randall I. Bambrough
Chief Financial Officer,
Vice President of Finance
and Administration and
Secretary
3
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INDEX TO EXHIBITS
Exhibit No. Description
99.1 Press Release dated November 25, 1998.
4
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Exhibit 99.1
Company contacts:
Donald Rich, President & CEO
Randall Bambrough, Vice President of Finance & CFO
Castelle
408-496-0474
Castelle Names New President and CEO
Donald Rich chosen after extensive executive search
Santa Clara, CA, November 24, 1998 - Castelle (NASDAQ: CSTL), a leader in
specialized network servers, announced today that Donald L. Rich has been
appointed president and chief executive officer. Arthur H. Bruno will remain as
chairman and Jerome J. Burke will serve as executive vice president after
filling the role of president for the past several months while an executive
search had been underway.
"Our Board of Directors has selected and endorsed Mr. Rich as the individual who
can take Castelle to the next level," said Mr. Burke. "We are particularly
impressed with his experience and software background, which are expected to
help Castelle leverage its current product line and technology obtained in
recent acquisitions into a successful market strategy."
Mr. Rich brings more than 25 years of leadership experience from a successful
career that was launched at International Business Machines Corporation ("IBM")
where he held sales, marketing and financial management positions. His most
recent role was president and chief executive officer at Talarian Corporation of
Mountain View, California where he raised funding, turned around the business,
repositioned the company into new market opportunities, and achieved a track
record of seven consecutive quarters of profitability. In addition, he has held
various executive positions including vice president marketing and sales at
Integrated Systems, Inc., contributing to its successful Initial Public
Offering. Mr. Rich holds a BS in Mechanical Engineering from Purdue University
and an MBA from Stanford Business School.
"According to International Data Corporation, the U.S. fax server market will
grow from $480 million in 1998 to $1.1 billion in the year 2001, a 32%
compounded annual growth rate, " stated Mr. Rich. "Castelle has a unique
position in the marketplace. New enhancements to the current product line and
recent acquisitions combined with a strong VAR channel now provide a complete
fax server solution. I look forward to the opportunity to expand Castelle's
business. "
Castelle, founded in 1987, develops and markets specialized network servers for
increased productivity in workgroups and the enterprise. The company recently
announced its acquisition of Object-Fax from Traffic Software, a leading
provider of high-end fax server solutions for medium to large enterprise
networks. Castelle products, available through a worldwide network of
distributors, include: network/Internet fax servers, fax/email on demand and
network/Internet print servers. The company, publicly traded on the
over-the-counter market under the NASDAQ symbol CSTL, is headquartered in Santa
Clara, California. For more information, call 800-289-7555, 408-496-0474 or
visit www.castelle.com.
Except for the historical information contained herein, this news release
contains forward-looking statements that involve risks and uncertainties,
including timely development, acceptance and pricing of new products and general
economic conditions as they affect the Company's customers, as well as the other
risks detailed from time to time in the Company's Securities Exchange Commission
reports, including the report on form 10-K for the year ended Dec. 31, 1997.
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Nasdaq Information
Stock Symbol: CSTL
Nature of the release: Hiring of new CEO
Contact names: Donald Rich and Randall Bambrough
Time release is scheduled to go out: After 3:00 pm (PST)
Phone number: (408) 496-0474
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