BTI Systems has begun its latest growth chapter by appointing Colin Doherty as its new president and CEO, taking over from Steve Waszak.
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Waszak, who served as the CEO since 2010, is leaving the company for personal reasons. He led BTI through what was a rapid growth phase by enhancing its product set, securing major service provider customers like Frontier and developing a number of new software and support offerings.
A 25-year telecom industry veteran, Doherty comes to BTI Systems from Arbor Networks, where he also served as CEO since 2009. During this period, he led its acquisition by Danaher in 2010, followed by Arbor's acquisition of security analytics vendor Packetloop.
Before Arbor, he was the CEO of switching startup Mangrove Systems and also held senior management, sales and operations roles with NMS Communications and Nortel Networks.
Doherty comes to BTI at a time when the company is riding a strong growth wave. Driven by growth from content, colocation and service providers, BTI has achieved a compound annual revenue growth of 33 percent between 2007 and 2013.
At the same time it has been enhancing its software capabilities, particularly in the software defined networking (SDN) and network functions virtualization (NFV) domains with its Intelligent Cloud Connect platform. The vendor has raised more than $60 million in financing from investors such as Bain Capital Ventures, BDC, Covington Capital and GrowthWorks to fund its growing software and cloud initiatives.
Doherty's arrival at BTI is the latest of many new members to join its executive team. BTI also named former VMware co-president and current Heroku CEO Tod Nielsen to its board, along with Ken Taylor from March Communications as CFO and Tom Nolette from Crossbeam Systems as senior vice president of global operations.
For more:
- see the release
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