Intelligent Video Analysis Leader Names Industry Visionary to Board of Directors and Unveils Advisory Board of Industry Leaders
CAMBRIDGE, Mass.--(BUSINESS WIRE)--June 21, 2005--IntelliVid Corporation, the leader in Intelligent Video Analysis solutions for retail loss prevention, today named Domenic J. LaCava to its Board of Directors and unveiled its Advisory Board of senior industry executives.
IntelliVid enables retailers to use video in ways never before possible to enhance profits, prevent loss and create a safer environment for their employees and customers. The company is addressing a critical market need. The retail industry suffers from over $33 billion in losses each year according to industry surveys. To combat these losses, many retailers have made large investments in Closed Circuit Television (CCTV) and recorders for loss prevention and security purposes. However, they have found it very difficult to effectively use the enormous volume of video information they collect. IntelliVid is the first company to help retail loss prevention professionals fully leverage their video assets to reduce theft and increase profits.
Domenic LaCava is a member of VX Management Group, an executive management consulting firm. He has over 30 years' experience in the high technology industry, having built successful businesses in both the computer and telecommunications industries. Prior to his current position, Mr. LaCava held the roles of CEO, President, COO and Corporate Vice President at companies including Eastman Software, PictureTel, Digital Equipment Corporation, and the PowerOpen Association. Early in his career, Mr. LaCava held a number of management positions of increasing responsibility at IBM. He is a past Director of PlaceWare Inc. which was successfully acquired by Microsoft in April of 2003. In addition to IntelliVid, Mr. LaCava currently is a Director at Top Layer Networks, Inc. of Westboro, Massachusetts.
"IntelliVid provides the most advanced technology I've seen for retail loss prevention," commented Mr. LaCava upon joining IntelliVid's Board of Directors. "The company is already demonstrating its value in helping retailers use CCTV, such as tracking people and assets, automating alerts, and managing investigations. I'm excited to be involved with a company that's having such a major impact."
Dr. Patrick Sobalvarro, President and CEO of IntelliVid, said, "We're gratified that a prominent industry executive like Domenic LaCava has joined our Board of Directors, and I look forward to working with him. Having an individual of Dom's caliber join our board validates the importance of IntelliVid's mission as a key player in the retail loss prevention industry. That importance is further highlighted by the stellar Advisory Board that I am also very pleased to announce today. This group of thought leaders is a key strategic asset to IntelliVid as we accelerate into an exciting growth phase. Both of these boards play very important roles in helping IntelliVid continue to aggressively address the retail industry's loss prevention needs."
In addition to Mr. LaCava and Dr. Sobalvarro, IntelliVid's Board of Directors includes:
IntelliVid's Advisory Board members are:
IntelliVid was founded in 2002 by a team of technology leaders to develop Intelligent Video Analysis solutions for retail loss prevention. Its team of market veterans and world-class software engineers are committed to continually providing innovative loss prevention products based on unique video processing technology. IntelliVid's products enable organizations to realize the full potential of their CCTV systems and increase their ROI significantly. For more information, visit www.intellivid.com.
for IntelliVid Corporation Brenda Nashawaty, CHEN PR, 781-466-8282 x13 firstname.lastname@example.org