Gaithersburg, MD, August 9, 2005 - BroadSoft, Inc., the leading provider of VoIP application software, today announced that Philip B. Livingston, vice chairman of enterprise resource planning controls management software supplier Approva Corporation, has joined BroadSoft's board of directors and will serve as Audit Committee Chairman.
A former adviser to the Financial Accounting Standards Board (FASB) and International Financial Accounting Standards Board (IASB), Livingston is a renowned expert in corporate accountability and regulation who has also served as CFO for several public companies. As president and CEO of Financial Executives International, he also helped author sections of the Sarbanes-Oxley Act of 2002 regarding ethical codes of conduct for corporate financial officers and audit committee financial experts.
"Phil is a vital addition to BroadSoft's board," said Michael Tessler, president and CEO for BroadSoft. "The company has achieved market leadership through sales penetration and growth in a wireless and wireline VoIP applications market that has only begun to approach its potential. Phil's unmatched expertise in corporate financial standards and responsibility will help BroadSoft build on those achievements and expand our success."
Livingston is known worldwide as a corporate financial management expert and practitioner. Prior to joining Approva, Livingston served as chief financial officer for publicly held companies Celestial Seasonings, now part of The Hain Celestial Group (NASD:HAIN); and World Wrestling Entertainment Inc. (NYSE: WWE). He is a director and audit committee chairman of Cott Corporation (NYSE:COT) and MSC Software (NASDAQ:MNSC).
"Through its innovative technology, corporate growth and leadership in the VoIP industry, BroadSoft's team is transforming the way the world communicates, collaborates, learns and does business," said Livingston. "I am pleased to participate in this exciting company's efforts to build even further on that success."
Since its founding in 1998, BroadSoft has grown to more than 100 service provider customers, including Tier-1 carriers such as, MCI Inc., Singapore Telecommunications Ltd., Telstra and Verizon Communications. Along the way, the company has won partnerships with leading telecom manufacturers, including LM Ericsson and Lucent Technologies, while raising a total of $60 million in three rounds of funding from leading venture capital firms. In 2005, BroadSoft customers have launched the first fixed wireless (Wi-Fi and WiMAX) and mobile wireless VoIP services in North America. BroadSoft has grown to approximately 150 employees, based in eight countries.
In July, Light Reading named BroadSoft to its "Top 10 Private Companies" list, citing viable and accepted technology, smart and well-connected people, stability and efficient use of financial backing received.
BroadSoft's VoIP application software is revolutionizing the delivery of hosted telephony and multimedia services. Its flagship BroadWorks® technology empowers wireless and wireline carriers to deliver next-generation voice and multimedia applications and advanced features that increase revenue, enhance competitive differentiation and elevate customer satisfaction. BroadSoft's family of carrier-class software products delivers the scale, open architecture and reliability that the world's leading telecommunications companies demand to serve mission-critical enterprise and residential broadband customers. BroadSoft's customer base of more than 110 network operators, including BellSouth, MCI, Singtel, Telstra, Verizon and XO Communications, leads the industry with more than 1,200,000 lines deployed. Additional information is available at www.broadsoft.com.