Tervela names technology veteran to CEO post

Eric Schnadig, CEO, Tervela: "My goal is to accelerate the broader adoption of Tervela."

Tervela, the provider of open, intelligent, hardware-accelerated messaging systems, has named Eric R. Schnadig as chief executive officer, succeeding J. Barry Thompson, Tervela's founder, who takes over as chief technology officer.

Mr. Schnadig joins Tervela from Unica Corporation (NASDAQ: UNCA),where he served as SVP of Worldwide Sales and Business Development.

"As the financial markets reawaken and IT budgets are restored, firms will be forced to revisit their overworked, inefficient legacy infrastructures," said Eric Schnadig, CEO, Tervela. "The company's powerful enterprise-class messaging platform is the best way for data-intensive organizations to gain competitive advantage in the face of new market requirements. My goal is to accelerate the broader adoption of Tervela by giving our customers the most effective means to achieve this benefit."

"Eric has a proven track record in high growth technology businesses," said Peter Perrone, managing director, Goldman Sachs and a Tervela board member. "Tervela's messaging products are helping some of the world's leading financial services firms improve the performance of their trading platforms. The company will benefit from having Eric at the helm as it seeks to repeat this formula in broader market segments and geographies."

"With customers in production both domestically and internationally, business partnerships with financial market leaders and the recent introduction of the Tervela TMX-500 Message Switch, we have proven the efficacy of hardware-accelerated messaging and delivered a new framework for how the enterprise deals with data," said J. Barry Thompson, chief technology officer. "In Eric, we found a leader with an unparalleled track record in enterprise software and a rock-solid reputation with customers."