AllDigital Holdings, Inc. Announces Passing of CEO Paul Summers
August 29, 2014 --
IRVINE, Calif., Aug. 29, 2014 (GLOBE NEWSWIRE) -- AllDigital Holdings, Inc. (OTCBB:ADGL), announced today the sudden passing of Paul Summers, the Company's Chief Executive Officer and Chairman of the Company's Board of Directors.
Paul was a consummate Tech Entrepreneur and co-founded AllDigital in August 2009, along with Tim Napoleon and Steve Smith. Prior to AllDigital, he co-founded VitalStream Holdings, which eventually listed on NASDAQ and sold for more than $200 million in stock. Paul also co-founded AnaServe, a privately held web-hosting company that sold to Concentric Network Corporation.
Tim Napoleon has been a long-time collaborator with Paul, having worked alongside each other at their three last companies. "Paul loved this industry and had a passion to bring forward services that could be used by both large and small companies," Tim said. "He was a great friend and mentor. We will honor his legacy by building AllDigital into the global brand he envisioned it to be as a cofounder."
"It was a privilege to have been able to work along side with Paul over the last 19 years," said Steve Smith. "He was a real visionary and more importantly a mentor and friend to me. I will be forever grateful for the positive impact he has had on my life."
Michael Linos, President of the Company said, "I truly enjoyed working with Paul in the past at VitalStream and I feel fortunate to have had the opportunity to work with him again at AllDigital. The team here worked closely with Paul to develop the Company's long-term goals and we will strive to continue his legacy."
The Board of Directors has issued the following statement: "The entire AllDigital family is saddened by the news of Paul's death. The Company's directors and employees grieve Paul's passing and send our deepest condolences to his family."
Michael Linos has assumed the responsibilities of Interim Chief Executive Officer of the Company.
About AllDigital Inc.
AllDigital Inc., a leader in digital broadcasting solutions, is the developer of AllDigital Cloud, a content management system (CMS), focused on the virtualization of digital content. AllDigital Cloud empowers enterprises to stream content across multiple devices including mobile, desktop and digital television, providing total control over the global distribution of digital media assets. Mainly serving media and entertainment companies, enterprise brands, non-profit and government organizations, AllDigital sets itself apart by offering highly scalable and ultra-low latency (ULL) digital broadcasting solutions, including cloud storage, origin transit, content management solutions, integration services and related customer support. AllDigital Cloud provides high-speed data transfer, scalable storage, encoding / transcoding, VoD, linear programming, and real time reporting. For more information on AllDigital, please visit http://www.alldigital.com/.
CONTACT: Heidi Smith