WASHINGTON â€“ April 8, 2008 â€“ Piyush Sodha, an accomplished technology executive, will become Chief Executive Officer and Co-Chairman of Kastle Systems International LLC, a global leader in building and office security systems.
The announcement was made by Mark Ein, majority owner of Kastle Systems, who acquired the privately held company last year, and Gene Samburg, the former CEO, who will join the Office of the Chairman with Ein and Sodha.
"Piyush is an incredibly experienced CEO with a virtually unparalleled track record of successfully building and rapidly scaling technology-centric entrepreneurial companies," Mark Ein said. "Having worked together with Piyush in four companies over the last 15 years, I have seen how his unique blend of talent, leadership and customer focus has transformed these companies and led to dramatically accelerated growth. Piyush and I share a conviction about the opportunity to significantly grow Kastle and a long-term commitment to make it happen. I have great confidence that he is the ideal leader for this Company."
The appointments are effective immediately.
"I am delighted to be passing the baton to Piyush, who is an engineer by training, a businessman by experience and a proven leader by approach," Gene Samburg said, "After 35 years as CEO of Kastle, I can't imagine turning it over to better hands."
In addition to his duties as CEO and Co-Chairman, the company announced that Mr. Sodha had made a significant financial investment in Kastle and will become a major shareholder in Kastle.
"I am very excited to join Kastle as CEO, investor and partner with Mark," Mr. Sodha said. "With its strong brand and large customer base, Kastle is a great company and platform to build on. There is a significant and growing need for our products and services and a real long-term opportunity to develop and provide new technology solutions that are responsive to the needs of our customers and the marketplace. I think we have the chance to build on Gene's great work and create something very special here over a long period of time."
Mr. Sodha has an exceptional record, Mr. Ein noted, leading, growing and building significant value in a series of successful technology companies by providing compelling new products to the market. In several of these companies, Mr. Ein was a lead investor and worked in partnership with Mr. Sodha to help drive the growth.
Most recently, Sodha was Chairman and CEO of Cibernet Corporation, a leading provider of settlement, clearinghouse and revenue generation solutions for the wireless industry. During his tenure from 2005-2007, Cibernet experienced substantial growth through global expansion and new product introduction. From 2001 through 2005, Sodha served as CEO of Matrics Inc, a designer and manufacturer of electronic product code Radio Frequency Identification (RFID) systems, growing it into a market leader that was purchased by Symbol Technologies. Sodha also served as CEO of LCC International, a global provider of RF engineering services, from 1990-1998. Under his leadership, the employee base and revenues grew by almost 20 times and the company launched an initial public offering in 1995. In each of these companies, Mr. Ein was a major investor and board member.
Sodha holds a B.S. in electrical engineering from IIT in New Delhi, an M.S. in electrical engineering from Drexel University, and an M.B.A. from the Wharton School of the University of Pennsylvania.
In addition to being the majority owner and Co-Chairman of Kastle Systems, Ein is the founder and Chief Executive Officer of Venturehouse Group, LLC, a holding company based in Washington D.C., that creates, invests in and builds technology and telecommunications companies. He is also the Chairman and CEO of Capital Acquisition Corp, a Special Purpose Acquisition Company, that completed a $262.5 million in IPO in November 2007. Mr. Ein recently launched a World Team Tennis franchise called "The Washington Kastles," the security firm's namesake www.washingtonkastles.com.