Bsquare Announces Appointment of Jerry D. Chase as President and CEO

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Release: 2014-02-25 07:43

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BSQUARE Corp (NASDAQ:BSQR) a leading enabler of smart, connected systems, today announced that its Board of Directors has unanimously appointed Jerry D. Chase as President and Chief Executive Officer of the company. Chase, 54, joined the Board of Bsquare in July of 2013 and has been serving as the interim CEO since September of 2013.

"We are pleased with the significant progress that Jerry, as interim CEO, and the management team have made in putting the company on a sound financial footing and in developing our new strategy," said Andrew Harries, Chairman of the Board. "We are confident with Jerry as CEO, our team will continue to improve our licensing and professional engineering services businesses, and grow our capabilities in the emerging Internet of Things (IoT) market. Jerry clearly has the expertise, desire and capacity for leadership to take our organization to its next stage of growth."

Mr. Chase said, "I feel very fortunate to have the opportunity to lead Bsquare at such an exciting time in its history. I look forward to continuing to work closely with the Board and the management team to achieve and maintain sustained profitability and positive cash flow in our existing businesses. Bsquare is well positioned to build on our existing market position and technical strengths to expand our participation in the rapidly growing IoT market, starting with our existing world-class customers."

Jerry Chase has considerable public company leadership experience. From February 2008 to June 2011, Mr. Chase served as CEO and director of Lantronix (LTRX), a publicly traded provider of secure software, and embedded and external hardware solutions. Mr. Chase was previously CEO and director of Terayon (TERN), a publicly traded cable, satellite and telecom supplier of digital video networking applications, from September 2004 to July 2007. Prior to serving as the CEO of Terayon, he held leadership roles in several digital video and networking systems companies. Mr. Chase is a former United States Marine Corps Officer and Pilot and holds an MBA from Harvard Graduate School of Business Administration and a BS in Business Administration, Magna Cum Laude from East Carolina University. Mr. Chase currently serves as a board member of East Carolina University's BB&T Center for Leadership Development.

Bsquare will release Q4 2013 earnings after market today.

About BSQUARE Corporation: Bsquare, a global leader in embedded solutions, applies experience and expertise on leading platforms to create new connections with customers, new business models and to enable new ways of working and communicating. Bsquare serves customers by forging connections among the partners, people, tools and technology needed to create smart connected devices. For more information, visit

Cautionary Note about Forward-Looking Statements: This release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include, among others, those regarding: strategies and expectations for customer retention, growth, and market position, including within the Internet of Things market; financial results in future periods such as anticipated profitability and positive cash flow; expectations for particular products, including DataV, and for our professional engineering services business; and expectations about the success of our management team and our personnel more broadly. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the extent to which we are successful in gaining new long-term relationships with customers and retaining existing ones; our ability to execute our sales and marketing strategies around the Internet of Things market and our product and service offerings more generally; whether we are able to maintain our favorable relationship with Microsoft; changes in customer demand for our engineering services; our success in leveraging strategic partnering initiatives with companies such as Qualcomm; our management of risks associated with protection of intellectual property and potential infringement claims; risks associated with recent changes in our senior management team; risks associated with our ability to achieve the anticipated benefits of our 2013 restructuring; possible changes in the size and components of the expected charges associated with this restructuring; and such other risk factors as discussed in our most recent Annual Report on Form 10-K and other filings with the SEC. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. Except as may be required by law, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

BSQUARE is a registered trademark of BSQUARE Corporation.

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BSQUARE Corporation
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