/24-7PressRelease/ - SAN DIEGO, CA, February 12, 2006 - Semtek Innovative Solutions Corporation announced today that Patrick K. Hazel has been named the company's Chief Executive Officer. Mr. Hazel will also become a director of the company. Mr. Hazel brings vast experience in the payment processing and technology industries to Semtek, a developer of solutions for the mobile payments sector.
The announcement was made by Chairman John Sarkisian who commented that "Patrick Hazel brings exactly the right combination of executive experience and domain knowledge that Semtek needs to reach its potential. His track record in raising capital, building management teams, and delivering shareholder value is substantial."
Mr. Hazel was previously the Chief Executive Officer of EWI Holdings, a payment processing company with operations in the US and Latin America and the operator of the PayGo processing network. Previously, he held a variety of principal and senior executive roles with Triumph Outdoor, Chancellor Media Corporation, The Copley Press, and American City Business Journals. He has also been active in early stage technology ventures, serving as a director of several high growth companies on the West Coast as well as an active advisor to the venture capital and private equity world on issues such as technology commercialization, IP portfolio development, and payment processing opportunities.
"Semtek is a very intriguing opportunity given its significant history of innovation and its IP portfolio relating to mobile commerce and encryption. The company has a solid base of fiercely loyal, Fortune 1000 clients who continue to turn to Semtek to resolve tough problems related to enabling mobile devices to securely process mobile transactions."
Mr. Hazel was awarded his BA from the University of Southern California in 1983 and his MBA from the University of Santa Clara in 1987. He has earned a public company director's certification from the Anderson School of Business at UCLA, and serves on the non-profit boards of the St. James Academy and the Sunset Water Polo Foundation. He resides in Rancho Santa Fe with his wife, Janeen, and their three children.
About Semtek
Semtek Innovative Solutions is a technology firm focused on enabling mobile commerce devices and applications, magnetic stripe security solutions, and wireless gateway services to the mobile payments sector. Founded in 1998 by industry leaders in the magnetic card reader field, Semtek has evolved to become a premier OEM provider to handheld and mobile device manufacturers and merchant processors seeking mobile solutions. Its customers include HP, Palm, Symbol, Nextel, Wells Fargo, Card Services, and IBM.
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