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Formula Telecom Solutions Strengthens Executive Team29 November 2005
Formula Telecom Solutions, Ltd. (LSE: FTS), a leading provider of Billing and CRM solutions for the telecom industry, announced today the appointment of industry veteran Yair Sakov as Vice President of Marketing and Business Development. Mr. Sakov bolsters the executive team with more than 15 years of experience in the information technologies and communication industries. In his new role, Mr. Sakov is focused on the company's growth as well as driving the expansion of FTS' marketing initiatives and formulating its strategic positioning in the evolving billing and CRM worldwide marketplace. Mr. Sakov joined FTS in January of this year as VP business development and is instrumental in taking the company to new and lucrative directions working closely with partners in the telecom industry. Prior to joining FTS, Mr. Sakov was a partner at AIG Orion Venture Capital and served as a Board Director at several international high-tech companies. Before that, Mr. Sakov was a Director of Corporate Business Development at 3Com, taking 3Com into new markets such as Broadband over Cable, Voice over IP and Home Networking, as well as managing the marketing for 3Com's ATM division. Prior to joining 3Com, Mr. Sakov held various marketing positions at Intel Corporation and was a key member in the launch of the first Pentium(TM) processor. "Yair Sakov has valuable experience and knowledge in telecommunications and IP, and we are extremely fortunate that he is on our team," said Amos Sivan, CEO of Formula Telecom Solutions. "I believe Yair's appointment will be crucial as FTS continues to develop and market solutions that enable service providers to deliver next generation services like IP Multi-services and increase their revenues." "I'm thrilled to take on this new responsibility, especially when considering the huge opportunities for growth in the world of telecom customer management," added Mr. Sakov. "FTS' comprehensive portfolio of next generation BSS solutions enables operators to increase customer acquisition and retention and eventually AMPU. We are looking forward to expanding our market presence as these solutions are pivotal to the launching of next generation services." Mr. Sakov holds a B.Sc. in Electrical and Computer Engineering from the Technion, Israel, and an MBA from Washington University, USA. About Formula Telecom Solutions (FTS) Formula Telecom Solutions (FTS) (LSE: FTS) is a leading global provider of converged end-to-end CRM and billing solutions for telecom operators and service providers. FTS' integrated "triple-triple play" solutions enable wireline, wireless and content operators to offer advanced voice, data and video services, while supporting prepaid, postpaid and pay-on-demand billing. FTS maintains a global presence with worldwide installations supported by sales and service offices on three continents. Combining a proven track record of on-time, on-budget project delivery with solid backing and extensive resources from the Formula Group (NASDAQ: FORTY), FTS is a CRM and billing one-stop shop. FTS' cutting-edge solutions enable operators to streamline customer acquisition, enhance customer retention and increase profitability - all at a low total cost of ownership. For more information about FTS, please visit us at http://www.fts-soft.com. For further information please contact: F.T.S. - Formula Telecom Solutions Ltd. investors@fts-soft.com Moshe Peterfreund Tel. +972-9-952-6536 Ruder Finn Josh Cline Tel. +972-2-589-2000 jcline@ruderfinn.co.il
Source: PR Newswire
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