Extensive Technology Venture Capital and Corporate Finance Experience Instrumental
for Achieving Company’s Goals
AIX-EN-PROVENCE, France, September 15th, 2008 – INSIDE Contactless, the world leader in advanced contactless microprocessor platforms, today announced it has appointed Richard Vacher Detournière as chief financial officer (CFO). The appointment brings deep financial expertise, buy-side and sell-side transactions experience, and successful private equity and technology venture capital investing experience to the company. As a member of the managing board, Mr. Vacher Detournière will play a critical role in helping INSIDE take the next step toward successfully achieving its goal of transforming how the world conducts transactions and information exchange.
“We are delighted to welcome Richard to INSIDE Contactless,” said Rémy de Tonnac, chief executive officer. “His technology experience, global market view, and financial expertise strongly complement the combined strengths of our management team . We look forward to his contributions as we enter an especially dynamic period of growth.”
Mr. Vacher Detournière joins INSIDE from Siparex, a leading independent French private equity and venture capital firm. Since joining Siparex in 1994, he has played a key role in more than 25 financing deals, including leveraged buy-outs, growth capital investments, and investments in early-stage technology companies. Most recently, he served as a partner in the area of information and communication technologies. From 2003 to 2005, based in California’s Silicon Valley, he helped manage SBV Venture Partners, an early-stage fund co-managed by Siparex. Before joining Siparex, he served as a consultant with Price Waterhouse in audit and corporate finance capacities, both in France and in Central Europe.
Mr. Vacher Detournière graduated from the Amiens School of Management and holds a master’s degree in management control, accounting and financial management (DESCF). He served on the board of thirteen Siparex portfolio companies, including Nanolase (sold to JDS Uniphase), SoiSic (sold to ARM), Leguide.com (listed on NYSE Alternext Paris by Euronext), EVE (hardware/software co-verification), and INSIDE Contactless. He also served on the audit committees for many of the firm’s portfolio companies.
“I am pleased to join INSIDE as it leads the way in transforming the ways in which people around the world conduct transactions, access information, and confirm their identities,” said Richard Vacher Detournière. “I look forward to working from the inside with a great team I have been involved with for many years and actively contributing to the company’s high growth and success.”
About INSIDE Contactless
INSIDE’s innovative, contactless and NFC semiconductor solutions are transforming how the world conducts transactions and information exchange. The company is the world leader in advanced contactless microprocessor platforms with 55 patents and more than 100 million products delivered worldwide. INSIDE enables bank card issuers, retailers, device manufacturers, service providers, and card brand organizations to deliver innovative consumer products and services with a high “cool factor” and outstanding user experience. INSIDE is headquartered in Aix-en-Provence, France, with offices in Shanghai, Singapore, Warsaw, Seoul, San Francisco, and Boston. For more information, please visit www.INSIDEcontactless.com.