Data Security Veteran David Canellos Joins PerspecSys as President and CEO

Growth Plans Include New Hires, Offices Following Intel Capital Funding

TORONTO, Aug. 31, 2011 /PRNewswire/ - PerspecSys Inc., maker of a cloud data privacy, residency and security platform that enables the enterprise to secure sensitive data used in cloud applications, today announced the hiring of David Canellos as President and CEO.  Canellos comes to PerspecSys from Irdeto, where he served as Senior Vice President, Global Sales and Marketing. Prior to joining Irdeto, Canellos was President and COO of Cloakware, which was acquired by Irdeto. Canellos brings more than two decades of software sales, marketing, and engineering experience to PerspecSys.

"David joins PerspecSys at a time when his experience with scaling a company and international data security and privacy law will be instrumental in the organization's growth plans," said Dave Nelson, Chairman, PerspecSys. "We look forward to tackling the vital security needs of many global organizations now adopting enterprise cloud computing."

PerspecSys' global customers include financial services firms, banks, management consulting firms and public sector services. PerspecSys enables enterprise adoption of cloud computing by addressing sensitive data Privacy, Residency, and Security (PRS) concerns. The PerspecSys PRS Solution™ preserves enterprise management and protection of their sensitive data used in public and private cloud applications. This removes the traditional barriers to enterprise cloud adoption such as regulatory compliance requirements, industry standard, or internal data management policies that would not normally allow sensitive data to go into the cloud.

"David brings the deep domain expertise and leadership experience that will help grow PerspecSys during a rapidly evolving time in cloud computing," said Sean Cunningham, investment director, Intel Capital. "His proven leadership, business skills, and sales ability will be instrumental in helping enterprises understand the imperatives associated with data security for cloud environments."

According to analyst firm Gartner, 2011 could be a breakout year for cloud services. Gartner predicts revenue growth in cloud computing will increase from $83.1B in 2011 to $148B in 2014. They note, however, that adoption has been slowed by concerns about security and reliability. This is one reason why Gartner chose PerspecSys as a "Cool Vendor" in the Cloud Security Services category.

Among his first responsibilities at PerspecSys, Canellos will oversee staff expansion over the next year and the addition of new offices to address growth in domestic and overseas markets. The company has already opened the first of these additions in Toronto in response to accelerated customer demand in that region.

"PerspecSys is in an ideal position to meet the growing demand for data security in cloud services, capitalizing on the continued expansion forecast for the industry," said David Canellos, president and CEO of PerspecSys Inc. "We are addressing the key challenges presented to enterprise customers, who are now adopting the technology: privacy, data residency and security. With a terrific team in place already, I look forward to driving the company's growth and continuing to build upon the momentum it has already experienced."

About PerspecSys

PerspecSys Inc. is a privately held Canadian corporation, based in the Greater Toronto Area of Ontario, Canada. Our mission is to provide Data Privacy, Residency and Security solutions that enable cloud adoption by the enterprise while controlling and protecting sensitive data.

For more information on PerspecSys or the PRS Server, please visit www.perspecsys.com.

"PRS Server" is a trademark of PerspecSys Inc. The names of other companies or products mentioned herein may be the trademarks of their respective owners.

SOURCE PerspecSys Inc.