07 June 2006
Press release

Acronis Names John Murgo as Chief Financial Officier

June 7, 2006, Burlington, MA — Acronis, Inc., the technological leader in storage management software, announced the appointment of John R. Murgo as executive vice president and chief financial officer. Murgo reports to CEO Walter Scott.

Murgo joins Acronis from OpenServices Inc., a leading software vendor in the security information and event management market, where he served as executive vice president and chief financial officer. Earlier he served in various positions at Process Software Corp., eventually becoming president and chief executive officer. He also was the chief financial officer of web applications vendor Dirig Software Inc. and HPSC Inc.

In addition to his financial duties at HPSC, Murgo served as the acting chief operating officer where he was responsible for all SEC filings, investor relations and other financial responsibilities. He drove a $50 million recapitalization of the publicly held firm in order to reduce the company's cost of capital and better secure its financial base. As a result, the company regained sound financial footing as well as the confidence of its shareholders and shortly thereafter was sold to GE Capital.

Murgo also served at one of the Big Five accounting firms, serving as a manager in the Boston office of the international accounting firm Coopers & Lybrand (now PriceWaterhouse Coopers), where he worked with a number of public companies and reviewed Securities and Exchange Commission filings.

"John is a seasoned chief financial officer with 20 years experience in all facets of financial management, having served as CFO for a range of growth-oriented companies," said Acronis CEO Walter Scott. "His background in building high-quality finance teams, along with experience with financings, mergers and acquisitions, financial reporting and controls, make him an ideal executive for the next phase of Acronis' growth."

"Bringing on a seasoned financial professional further solidifies an outstanding senior management team," said Scott Maxwell, managing director of Insight Partners, a major investor in Acronis. "We see this as a huge plus for Acronis, a company that has seen meteoric growth over the past few years. This is a new position at Acronis and demonstrates the company's evolution from feisty start-up to an established player in the market for the long run."

About Acronis:

Acronis is a global cyber protection company that provides natively integrated cybersecurity, data protection, and endpoint management for managed service providers (MSPs), small and medium businesses (SMBs), and enterprise IT departments. Acronis solutions are highly efficient and designed to identify, prevent, detect, respond, remediate, and recover from modern cyberthreats with minimal downtime, ensuring data integrity and business continuity. Acronis offers the most comprehensive security solution on the market for MSPs with its unique ability to meet the needs of diverse and distributed IT environments.

A Swiss company founded in Singapore in 2003, Acronis has 15 offices worldwide and employees in 50+ countries. Acronis Cyber Protect is available in 26 languages in 150 countries and is used by over 20,000 service providers to protect over 750,000 businesses. Learn more at www.acronis.com.
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