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Mergers and Acquisitions expert joins Complinet board

CompliNet : 02 June, 2008  (Company News)
New chairman brings high level experience of taking companies through phases of high growth and corporate listing
Complinet has appointed Nick Discombe as chairman of the board of directors as a non-executive director.

Mr Discombe has a long and successful track record in the private equity and venture community. His experience spans strategy, management and M and A activity.

"We are extremely fortunate to have someone with Nick's outstanding credentials join our board of directors," said Chris Pilling, CEO, Complinet. "We are poised to have another record year in 2008, and his experience guiding high-growth companies will help us to continue to build upon our past success."

Discombe has helped a number of early-stage transatlantic companies to grow and realise shareholder value. As a board member for Iris, he has been instrumental in creating a company with annual revenue exceeding $200 million USD. He also serves as an adviser to a number of fast growing companies including Distribution Technology, one of the fastest-growing companies in the UK.

In June 2007 he led the cash sale of Witness Systems for approximately $1 billion USD. Prior to Witness he was CEO of Eyretel, which he steered through IPO on the London Stock Exchange in March 2000. Mr Discombe joined Eyretel in 1998 from Synon Europe where he was head of EMEA and served on the worldwide management committee that directed its global business.

"It's a great time to be involved with Complinet," said Discombe. "The demand for the company's solutions continues to be very strong, and the current difficulties in the financial services sector are increasing the need for expert assistance and advice with compliance and Risk Management matters. Joining the board not only aligns me with solutions that deliver outstanding value, but also with a top notch executive team."
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