Press ReleasePress Release
Bay Microsystems Named a Red Herring Top 100 Winner
Award Recognizes Top 100 Emerging Growth Firms in North America Representing the Greatest Business OpportunitiesSAN JOSE, Calif., May 23, 2006 – Bay Microsystems, Inc., the world's fastest growing network processor company, today announced that it has been selected as a winner of the annual "Red Herring 100 North America" award by Red Herring magazine. This list of 100 privately held companies recognizes the leading entrepreneurial firms selected by financial performance, technology innovation, quality of management, execution of strategy, and the companies' competitive position. To view the full list, visit www.redherring.com.
As one of the winners, Chuck Gershman, president and CEO of Bay Microsystems, will present at the exclusive Red Herring Spring 2006 CEO summit, May 23-25 in Monterey, California, where a select group of technology entrepreneurs, investors, and corporate developers will gather to meet this next wave of disruptive technology companies.
Disruptive Technologies and Business Plans
"With venture capital flowing again, we're seeing a lot of innovative new companies taking on the established players with disruptive technologies and innovative business plans," said Joel Dreyfuss, Editor in Chief of Red Herring. "The Red Herring 100 North America companies, among them Bay Microsystems, are pushing and breaking the boundaries of the technology business and are excited to report on their success stories."
"We appreciate this Top 100 award from Red Herring magazine which recognizes Bay's leadership position in the high-end network processor market and our market momentum as the fastest growing network processor company in the world," said Chuck Gershman, president and CEO of Bay Microsystems. "Our products, including our recently introduced 40G Chesapeake™ network processor, empower network OEMs to rapidly develop a new generation of multimedia-centric network equipment for the red hot residential broadband market. Customer demand is overwhelming, and driving the next wave of growth for our company."
More than just buzz
Red Herring's lists of top private companies are an important part of the renowned magazine's tradition of identifying new and innovative technology firms and entrepreneurs. Companies like Google and eBay were spotted in their early days by Red Herring editors as some that would change the way we live and work.
After receiving more than 1,000 submissions and nominations, Red Herring's editorial staff rigorously evaluated Bay Microsystems and the other contenders through a careful analysis of financial data and subjective criteria, including quality of management, execution of strategy, and dedication to research and development. The Red Herring 100 North America companies are at the forefront of the technologies that are changing our lives in profound ways.
About Bay Microsystems
Bay Microsystems is one of the fastest growing communications semiconductor companies. As the recognized global leader in high-performance, programmable network and transport processors, Bay's award winning products enable the delivery of converged voice, video, data and multimedia and have been deployed in mission-critical service provider, enterprise and government networks since 2003. Bay announced profitability in June, 2005 and its customers include many leading government, telecom and network equipment manufacturers. For more information please visit www.baymicrosystems.com.About Red Herring Spring 2006
Red Herring Spring 2006 will assemble 300 of the continent's most innovative and successful CEOs, investors, and corporate developers and feature a dynamic group of over 100 speakers that are pushing and breaking the boundaries of the business of technology. Themed "The Pursuit of Disruption," it will be held May 23-25 in Monterey, California. Please contact Michael Felber at 650.428.2900 or email to request an invitation to attend the event. More information is available online at www.herringevents.com/rhspring06.About Red Herring Magazine
Red Herring magazine is a sophisticated insider's guide to the business of technology, featuring unparalleled insights on the emerging technologies driving the economy, from the Internet to wireless communications and digital entertainment. Red Herring's journalists report on how innovation and entrepreneurship are transforming business and how the business of technology is transforming the world, providing readers with a deep understanding of venture capital and capital markets. Recognized as an essential resource in today's fast-changing business world, Red Herring gets the right answers before anyone else even thinks to ask the questions. More information on Red Herring is available on the Internet at www.redherring.com.Editor Contacts:
Tim Helms
Helms Communications
925-606-6936
Bill Weisinger
Bay Microsystems
408-437-0400