KoolSpan Names Gregg Smith New Chief Executive Officer

KoolSpan Inc., developer of the TrustChip family of plug-in mobile security solutions, has named Gregg Smith as new chief executive officer.

Smith brings more than 25 years of leadership experience to KoolSpan, most recently as CEO of Acuity Mobile, a mobile advertising platform. At Acuity, Smith built the firm from a start-up into an industry leader, securing agreements with brands including Harrah’s Entertainment, Urban Outfitters and Acxiom, before negotiating the sale of Acuity to NAVTEQ, a billion dollar division of Nokia.

In past roles, Smith held executive positions with Aether Systems Inc. and TeleCommunications Systems Inc, where he led the expansion of global mobile services and software businesses. Former KoolSpan CEO Tony Fascenda has taken on a new role as chief technology officer, focusing on the company’s technology and innovation.

“This is an exciting opportunity because KoolSpan has developed outstanding technology that serves a red hot global market. As smartphones and tablet computers become more ubiquitous, IT teams must address security more proactively and TrustChip by KoolSpan provides an outstanding solution,” Smith said.

Analysts predict that the market for mobile security is poised for dramatic growth. In a recent report, research firm MarketsandMarkets anticipates the global smartphone security market to grow from $387.5 million in 2010 to nearly $3 billion by 2016.

“We are very pleased to welcome Gregg to KoolSpan,” said Chairman Elad Yoran. “He joins a strong team and brings terrific experience to the company as we capitalize on our business and market opportunity.”

“As KoolSpan continues to scale, Gregg brings extensive industry and operational expertise to the organization,” added KoolSpan founder Fascenda.

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