Clearlake Operating Advisor, Erik Prusch, Joins NetMotion Wireless as CEO
Leading Provider of Mobile Security and Network Performance Management Software Poised to Accelerate Growth
Santa Monica, CA and Seattle, WA – January 13, 2014 – Clearlake Capital Group, L.P. and NetMotion Wireless today announced that wireless industry veteran and Clearlake Operating Advisor Erik Prusch has joined NetMotion as Chief Executive Officer, effective immediately. NetMotion, a leading provider of enterprise mobility management software and solutions, was acquired by affiliates of Clearlake in September 2012. Mr. Prusch succeeds interim CEO and Clearlake Operating Advisor, Chris Gibbons, who will continue to serve as the Chairman of NetMotion's Board.
Behdad Eghbali and Prashant Mehrotra of Clearlake said, "Erik is a seasoned and visionary market leader and we're pleased to be working with him as an Operating Advisor. Erik brings deep expertise in navigating technology companies through rapid growth and expansion phases, and we are also pleased he is joining NetMotion as CEO at this exciting time. He is the right person to lead NetMotion as we pursue opportunities for the Company and capitalize on strong trends in enterprise mobility management."
Mr. Prusch brings a wealth of finance, operations, and leadership expertise and has significant experience leading technology businesses with a focus on software and solutions. He most recently served as President and CEO at Clearwire Corporation, a U.S. provider of fourth generation (4G) wireless broadband services, where he oversaw significant increases in the company's revenues and subscriber base, improved margins, and successfully led the sale of the company to Sprint. Prior to Clearwire, Mr. Prusch served as President and Chief Executive Officer of Borland Software. Other leadership roles have included Vice President of Finance at Intuit's TurboTax division, CFO of Identix Incorporated, and Vice President and CFO, Finance and Operations at Gateway Computers, Inc.
"We are excited to welcome Erik as NetMotion accelerates growth and brings new and innovated solutions to the enterprise mobility management market," said Mr. Gibbons.
"The opportunity to lead NetMotion is tremendous, and I look forward to working with the talented NetMotion team and its customers as we look to set the new standard in enterprise mobility management," said Mr. Prusch. "NetMotion has attractive opportunities for expansion, and the Company is well-positioned to benefit from significant market trends, including the continuing rise in the number of mobile workers, the increasing use of mission-critical applications on mobile devices, and numerous regulatory changes requiring greater data security."
Bespoke Partners conducted the CEO search on behalf of Clearlake.
NetMotion Wireless develops Enterprise Mobility Management (EMM) software for organizations with mission-critical mobile workforces. The company's products address the unique challenges created by these workforces by providing the security, visibility, and control that IT departments demand, while minimizing the connectivity challenges faced in the field, so mobile workers can be more productive. Thousands of enterprises around the world are using NetMotion products to keep millions of mobile workers connected to applications. The company is headquartered in Seattle, Washington.
About Clearlake Capital Group
Clearlake Capital Group, L.P. is a private investment firm focused on special situations and private equity investments such as corporate divestitures, recapitalizations, buyouts, reorganizations, turnarounds and other equity investments. Clearlake seeks to partner with world-class management teams by providing patient, long-term capital and operational expertise to invest in dynamic businesses. Clearlake currently manages approximately $1.4 billion of equity capital, and Clearlake's founding principals have led over 70 investments totaling more than $3 billion of capital in sectors including automotive, business services, consumer products/retail, defense/public safety, energy/power, industrials, and technology. For more information, please visit www.clearlakecapital.com.