Contact Information: For more media information, contact: Lisa Hendrickson LCH Communications for the Symbio Group 516-767-8390
Robert E. Grady Joins Symbio's Board of Directors
Global Leader in Venture Capital With Extensive Investing, Capital Markets and Government Experience
| Source: Symbio Group
ROCKVILLE, MD--(Marketwire - August 19, 2008) - The Symbio Group ("Symbio"), a leading
provider of software development, testing, and globalization outsourcing
services, announced today that Robert E. Grady, a Partner and Managing
Director at The Carlyle Group, one of the world's leading private equity
firms, has joined the Company's Board of Directors. In addition to his
extensive experience as a venture capitalist, investment banker, and public
official, Mr. Grady brings wealth of contacts and relationships in the
technology and investment communities globally.
At Carlyle, Mr. Grady is the Chairman of Carlyle Venture Partners ("CVP"),
which invests in high growth technology, medical device and business
services companies. He has served as global coordinator of and helped to
build Carlyle's global venture capital and growth investing operations,
which today are comprised of over $4.2 billion in assets under management
in 9 funds. Mr. Grady is a member of the Investment Committees of CVP,
Carlyle Asia Growth Partners and Carlyle Europe Technology Partners.
Carlyle has been an active venture and growth capital investor for over a
decade, and has made over 80 venture and growth capital investments in the
U.S. and over two dozen in China.
Mr. Grady is a director of Maxim Integrated Circuits (PINKSHEETS : MXIM ) and
AuthenTec, Inc. (NASDAQ : AUTH ), and a former director of Blackboard (traded
on the NASDAQ under the symbol "BBBB") and Ingenio (sold to AT&T, traded on
the NYSE under the symbol "T"). He also serves on the boards of directors
of several privately held Carlyle portfolio companies, including eScreen,
Panasas, Verari Systems, Secure Elements, Wall Street Institute, Viator,
and The Health Central Network. Mr. Grady also served as a director and was
Chairman in 2006-2007 of the National Venture Capital Association ("NVCA").
"We are very excited to have such an active leader in the venture capital
business and a person with extensive connections in business and government
around the world joining our Board of Directors," commented Jacob Hsu,
Symbio's CEO. Mr. Hsu continued, "Bob Grady has vast experience in working
with emerging growth companies and helping them to achieve their goals. We
know that Bob can help us build our business and identify strategic
opportunities for growth."
"I am delighted to join the Symbio team in building a global leader in
cross-border IT services," Mr. Grady said. "The market for China-based IT
services is growing, the Chinese government has declared it a priority, and
Symbio is one of the market leaders. I am excited to help Symbio's young,
intelligent and energetic management team grow their business to the next
level as the market expands and the globalization of business continues,"
he added.
Prior to joining Carlyle, Mr. Grady was a Managing Director and Member of
the Management Committee at Robertson Stephens & Company, a leading
technology investment bank, at which he served as the lead investment
banker on over 150 public market financing and M&A transactions. He served
in the White House as Deputy Assistant to former President George H.W. Bush
and as Executive Associate Director of the White House Office of Management
and Budget ("OMB"). He also served as the Chief Speechwriter and policy
advisor on the successful 1988 Bush presidential campaign, and as a chief
aide to a Governor (Thomas H. Kean of New Jersey) and a U.S. Congresswoman
(Millicent Fenwick of New Jersey). From 1994-2004, he served on the
faculty of the Stanford Graduate School of Business, teaching courses on
environmental policy, regulation, and "Investing in Highly Regulated
Industries."
Mr. Grady earned an A.B., cum laude, from Harvard College, and an M.B.A.
from Stanford University's Graduate School of Business.
In addition to his many corporate leadership roles, Mr. Grady has
contributed in a broad range of public service activities. He is a member
of the National Commission on Energy Policy, an Advisory Trustee of the
Environmental Defense Fund, and a member of the Council on Foreign
Relations. He was appointed by President Bush to the Advisory Committee on
Trade Policy and Negotiation ("ACTPN"), by California Governor Arnold
Schwarzenegger to the California Commission on Military Base Restructuring
and Realignment, by the Administrator of NASA to the Blue Ribbon Commission
on the Management of the International Space Station ("ISS"), and by the
Secretary of the Smithsonian Institution to the Commission on the Future of
the Smithsonian.
Concurrent with Mr. Grady's joining Symbio's Board, he has made an equity
investment in Symbio.
About Symbio
Symbio leverages China outsourcing teams to help companies become global
leaders. It helps organizations accelerate their software development and
testing cycles by optimal application of its global resources and delivery
models. Symbio also localizes and supports technology products for any
language or locale. Founded in 1994 by a group of engineers from IBM's
international research and development labs in Asia, Symbio now functions
as a cost-effective and highly efficient extension of an organization's
development, testing and globalization teams. Symbio's clients include IBM,
Electronic Arts, Microsoft, Citigroup, AOL, BMC, Computer Associates, and
many more. For further information on Symbio, visit www.symbio-group.com.