Vidyo names NTT Data and GE veteran Kaminsky as CFO

Reuters News
Posted: Jul 16, 2012 8:20 AM
Vidyo names NTT Data and GE veteran Kaminsky as CFO

(Reuters) - Video technology start-up Vidyo, aiming to become a major player in the video communications industry, has hired veteran corporate finance specialist David Kaminsky as chief financial officer, the company said on Monday.

New Jersey-based Vidyo, which competes against larger rivals Cisco Systems Inc <CSCO.O> and Polycom Inc <PLCM.O>, has raised around $100 million since its founding in 2005. Its low-cost software platform is used by Google Inc <GOOG.O> among others.

Kaminsky joins Vidyo from NTT Data Inc <9613.T>, where he was CFO. He previously ran finance operations at different businesses of General Electric Co <GE.N>.

"The appointment strongly complements our management team as we transform from a late-stage start-up to a fast growing corporation," said Vidyo co-founder and Chief Executive Officer Ofer Shapiro.

Shapiro, who previously told Reuters he hopes see the company go public before 2015, declined to comment on whether the naming a seasoned CFO was linked to listing plans.

"We want to be ready for it, so that the company can do that at the time it chooses," Shapiro said in an interview from the United States via Vidyo's conferencing system.

The company has not unveiled any details of its revenues, but it is seen by analysts as one of the key challengers to established players.

(Reporting By Tarmo Virki; editing by John Wallace)