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Minerva Grabs $6.5M

Minerva Networks closes $6.5M round led by myQube, appoints Marco Landi, ex-COO of Apple Computer, to represent myQube on board

June 17, 2002

1 Min Read

SANTA CLARA, Calif. -- Minerva Networks, the leading provider of IP Television solutions, announced today the appointment of Marco Landi, former Chief Operating Officer at Apple Computer, Inc. and General Manager at Texas Instruments, to its board of directors. The appointment comes as the Company is closing a $6.5 million round of financing from key financial and strategic investors led by myQube, a European venture fund backed by Pirelli, Benetton Group, Mediobanca, and other financial institutions. Marco Landi, representing myQube on the Minerva Board, will counsel and direct the Company on key international strategic and business development matters. "We are ecstatic to have Mr. Landi join our team," said Mauro Bonomi, founder and CEO of Minerva Networks. "Marco's strong executive and international experience will help us replicate internationally the business success we are enjoying in North America." After 25 years with Texas Instruments, Mr. Landi joined Apple as President of European Operations. When promoted to the COO position, Mr. Landi was responsible for Apple's Product Divisions, Claris Corporation and AppleAssist, as well as for the Company's worldwide sales operations. Recently Mr. Landi was Senior Vice President of BMC and President of BMC Europe, Middle East and Africa. Minerva Networks Inc.

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