FOR IMMEDIATE RELEASE
Geomagic Adds Paul Rizzo to Board of Directors
Former IBM vice chairman brings strong mix of business and industry savvy to innovative 3D software company.
RESEARCH TRIANGLE PARK, N.C., April 7, 1999 - Geomagic, Inc., the software company that introduces simplicity and automation to 3D model creation, today announced that Paul Rizzo, former IBM vice chairman has joined the company's Board of Directors. Mr. Rizzo's appointment comes as a result of funding by Franklin Street/ Fairview Capital. Mr. Rizzo is chairman of Franklin Street Partners and a general partner of Franklin Street/Fairview Capital (see today's related announcement, "Geomagic Closes on $5 Million in Venture Funding").
"My contribution will be to guide the development of Geomagic's business strategies," said Paul Rizzo. "I am very pleased to take this position on their Board."
Paul Rizzo, who was one of the founding stockholders of Franklin Street Partners, recently retired from his position as vice chairman of the board of IBM Corporation. He currently serves on the boards of directors of several corporations, including Johnson & Johnson, Ryder Systems, and Cox Enterprises, Inc., which are listed on the New York Stock Exchange, and NASDAQ-listed Pharmaceutical Product Development, Inc. and Kenan Transport Company. Mr. Rizzo is also former dean of the Kenan Flagler Business School at the University of North Carolina at Chapel Hill. He holds a BS from the University of North Carolina at Chapel Hill.
"I am honored to have Paul join our Board," said Ping Fu, co-founder, chairman, and chief technology officer of Geomagic. "He is very knowledgeable and brings a wealth of experience and connections to Geomagic."
Geomagic, Inc. is a 3D software company dedicated to developing the most technologically advanced and cost-effective solutions for the automatic creation of production-quality digital 3D models from existing objects. The company's technology makes it possible for corporations in a variety of industries to reengineer their business processes by enabling the implementation of Template Based Design and Digital Inventories. The result is more efficient design and production, better quality products, tremendous cost savings, and a higher level of competitiveness. In the longer term, Geomagic envisions the use of their technology as the underlying software that will make 3D appliances such as 3D printers, 3D copiers, and 3D fax machines as commonplace as 2D printers, copiers, and faxes are today. Geomagic was founded in 1996, is privately funded, and is headquartered in Research Triangle Park, NC.
Editor's note: In a related announcement, the company announced a new round of financing
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