Update: Intellectual Ventures has acquired Transmeta Patent Portfolio on Jan. 28, 2009
SANTA CLARA, CA. - Aug. 20, 2007 - Transmeta Corporationtoday announced that Sujan Jain has joined the executive team as chief financial officer, effective today, replacing Ralph J. Harms. Mr. Jain will report to Les Crudele, president and CEO of Transmeta, and will be responsible for directing all aspects of the company's financial management.
"We are pleased that Sujan Jain has joined our team as our new chief financial officer," said Mr. Crudele. "Sujan brings to Transmeta a proven track record as CFO and strong expertise in financial management, strategic planning, and fundraising. We believe that Sujan's entrepreneurial enthusiasm for growing technology companies will be a great asset to Transmeta and we look forward to his many contributions."
Mr. Jain is a seasoned finance executive who has served as chief financial officer at several semiconductor and technology companies. From 2004 to August 2007 he served at NanoAmp Solutions Inc., a privately held provider of low-power memory solutions for the wireless and medical markets, where he was most recently chief financial officer and secretary. Previously, from 2002 to 2004, Mr. Jain served as chief financial officer of PhotonWorx, a privately held optical technology company. Before joining PhotonWorx he held several senior management, investment banking and operating roles at J.P. Morgan Chase, Lazard and Schlumberger. In addition, Mr. Jain has been an advisor to several publicly and privately held high-tech companies and has been an Entrepreneur-in-Residence at SRI International (previously Stanford Research Institute).
Mr. Jain holds the U.S. equivalent of a B.S. degree in electronics and computer engineering from Delhi Institute of Technology in India and an M.B.A. in finance and management of organization from Columbia University. He is also a certified public accountant.
Mr. Harms, who is leaving the Company to pursue other interests, will continue with the Company until August 31, 2007 to assist in a smooth transition.
"I want to thank Ralph Harms for his support over the past year. Ralph has been very instrumental in our efforts to reduce our spending by streamlining our operations, and I wish him well in the future," said Mr. Crudele.
About Transmeta Corporation
Transmeta Corporation develops and licenses innovative computing, microprocessor and semiconductor technologies and related intellectual property. Founded in 1995, we first became known for designing, developing and selling our highly efficient x86-compatible software-based microprocessors, which deliver a balance of low power consumption, high performance, low cost and small size suited for diverse computing platforms. We are presently focused on developing and licensing our advanced power management technologies for controlling leakage and increasing power efficiency in semiconductor and computing devices, and in licensing our computing and microprocessor technologies to other companies. To learn more about Transmeta, visit www.transmeta.com.