ISP Channel Founder Leaves SoftNet Systems
SAN FRANCISCO--(BUSINESS WIRE)--Aug. 14, 2000--SoftNet Systems, Inc.
(Nasdaq:SOFN) today announced that its president and founder of its ISP Channel
subsidiary, Ian B. Aaron, has resigned.
"Ian was the founder and originator of our cable modem business. In essence, it
was his vision that lead to the creation of the ISP Channel and expansion into
our satellite and international businesses. SoftNet today is a larger and more
diverse company than the ISP Channel, with the company's forward-looking
strategic emphasis on our SoftNet Zone wireless broadband and Intellicom
satellite businesses. With regards to our cable modem business, we are now
managing for profitability and not for expansion into new markets. SoftNet
extends gratitude to Ian for his past contributions. We wish him well in his
future endeavors, and on a personal note, I thank him for bringing me into
SoftNet," said Dr. Lawrence B. Brilliant, chairman and chief executive officer
for SoftNet Systems.
Aaron served as president of SoftNet Systems since 1999 and served as a member
of SoftNet's Board of Directors since 1994. Prior to his post as president of
the corporation, Aaron served as president of ISP Channel, Inc. from June 1996
to June 1999, and before that served the company as vice president and chief
technology officer from October 1994 to June 1996.
Aaron resigns his executive and board posts with SoftNet effective immediately
to pursue other business interests.
Jonathan Marx succeeded Aaron in June of last year as president of ISP Channel.
Brilliant will assume Aaron's SoftNet corporate management duties.
SoftNet Systems, Inc. (Nasdaq:SOFN) is a leading global broadband
Internet services company.
For further information about SoftNet Systems, Inc. and its
subsidiaries, please visit www.softnet.com or call 415/365-2500.
This press release contains forward-looking statements concerning the company's
anticipated future operating results, future revenues and earnings or adequacy
of future cash flow. (These forward-looking statements include, but are not
limited to, statements containing the words "expect," "believe," "will," "may,"
"should," "project," "estimate," and like expressions, and the negative
thereof.) These statements, including the risks attendant to a growing business
in a new industry as well as those risks described in the company's Quarterly or
Annual Report.
CONTACT: SoftNet Systems, Inc.
Jody P. Flynn, 415/365-2510 (MEDIA)
[email protected]
Gloria Parrish, 415/365-2514 (MEDIA)
[email protected]
or
Cindy Wyrick, 415/343-2325 (INVESTOR)
[email protected]
