Monday, May 12, 2008

Virtela Appoints Steve King as CEO

Virtela, a global network solutions provider based in Denver, announced the appointment of Steven R. King as president and CEO. King also becomes a member of the company's board of directors. Previously, King was president and CEO of ZANTAZ Inc., a pioneer in compliance content archiving and e-discovery leveraging the Software as a Service (SaaS) model. Prior to ZANTAZ, King held a number of executive positions at E*TRADE Group Inc., where he played a key role in growing the company from under $100 million to more than $1.5 billion in revenues. He ultimately became CEO of E*OFFERING, the pioneering online investment bank of E*TRADE, acquired by Wit SoundView Group.

Virtela has developed a "Global Service Fabric" for delivering critical enterprise applications with a services suite that includes MPLS- and IP-based virtual private networks (VPNs), security services, remote monitoring and management of WAN/LAN infrastructure, and converged services (data, video, voice). Virtela's network reach spans more than 190 countries. The privately-held company reports seven consecutive quarters of positive net income, and said sales orders jumped 40% in Q1 2008 over the same period last year.