BTI Systems, which supplies cloud and metro networking software and systems, named Colin Doherty as its new president and chief executive officer, replacing Steve Waszak, who has served as the company's president and chief executive officer since 2010.
Doherty joins BTI from Arbor Networks, where he has served as CEO since 2009. Doherty guided Arbor through its acquisition by Danaher in 2010 to give it more resources, followed last year by Arbor's acquisition of Packetloop to expand and differentiate its solutions portfolio. Earlier in his career, he served as CEO of Mangrove Systems and held senior management, sales and operations roles with NMS Communications and Nortel Networks.
BTI said it is experiencing strong growth and momentum as evidenced by compound annual revenue growth of 33 percent between 2007 and 2013. More than 40 percent of revenues coming from top-tier content, colocation and service providers.
- In December, BTI closed a $27 million financing round, bringing to $60 million the amount of growth capital the company has raised since 2011. Investors include Bain Capital Ventures, BDC, Covington Capital, GrowthWorks and additional strategic investors.