Cortexa, a Manufacturer of Home Automated Systems, is Acquired and Appoints Coleman Washington President and CEO - 6 -24 -08
Austin, TX - Cortexa LLC, an innovative residential automation controller developer and manufacturer, was acquired by Cortexa Systems LLC, an investment group funded by Hidrock Realty.
In conjunction with its acquisition, Cortexa Systems also named Coleman Washington to be Cortexa's new President and CEO effective May 13, 2008.
Coleman has over 30 years experience in successfully leading start -ups, major corporate initiatives, and military system programs. He has extensive experience in successfully identifying and entering new markets, competitively repositioning in current markets, and delivering breakthrough products and services that drive sustained market leadership, while achieving impressive financial objectives.
Prior to joining Cortexa Systems LLC, Coleman held leadership positions at Texas Instruments, ROLM Telecommunications, IBM, Perot Systems, KPMG Consulting, Cabletron, Unisys, and three technology start -ups, including one that developed a first generation Home Control System over 20 years ago.
Jack A. Hidary, CEO of Hidrock Realty and the lead investor in Cortexa Systems, said, "Coleman has a strong background in building creative, collaborative Teams that I felt was critical to reinvigorate Cortexa in the home automation market. He is an experienced leader who has proven himself in consumer, commercial, and military markets, as well as he has solid skills across a wide range of disciplines, including executive management, product management, marketing, sales, finance, and Quality Assurance. He has demonstrated that he knows what it will take to build Cortexa into a world -class team that produces market leading products and services." Steven J. Hidary, Managing Investment Partner for Cortexa Systems states, "Coleman's leadership and direction will help catapult the company into a new way of thinking. We feel that the home automation market is emerging into an exciting time, which represents accelerated growth with a strong upside as an investment opportunity. We believe that under Coleman's leadership, Cortexa will enjoy exceptional success and help redefine the entire industry."
Coleman is a 1974 Naval ROTC Scholarship Honor Graduate from Vanderbilt University with a BA in Economics. He has completed the Distribution Masters Course at the University of Virginia's Colgate Darden Graduate School of Business, and the Business Strategy Masters Course at the Harvard Business School.
Coleman started his career as a Navy carrier aviator, followed by his selection as a Test Pilot, and Assistant Program Officer for the initial testing and fleet acceptance of the F/A18 Hornet and the joint US Marine Corps / British Navy AV8 B/C Harrier launch and recovery testing and certification, as well as the proof -of -concept flight testing of the flying wedge design for the NASA Space Shuttle.
When asked about the acquisition of Cortexa and the infusion of investment, Coleman Washington said that, "Cortexa is well -positioned to take advantage of the rapidly -emerging (residential) energy and water conservation market. One of our first steps already underway is to build on Cortexa's solid functionality by adding a 'green focus' as well as more intuitive management of home operations. This will enable users to efficiently operate their homes in line with their life styles. We are expanding our existing presence in both the single family and MDU markets by recruiting leading Distributors and strategic Dealers, as well as becoming an OEM partner of choice in the digital home initiatives of major market influencers. Our Marketing and Development Teams are evaluating and expanding the list of off -the -shelf subsystems that integrate with our system, while still continuing to make our controller the robust, easy -to -use intelligent home automation solution that dealers and installers have come to expect."
About Cortexa: Cortexa's capability to simply and intelligently manage off -the -shelf residential subsystems using pre -configured and user -defined events positions it as one of the most flexible and easy -to -use home automation controllers in the market today. Cortexa delivers peace of mind for homeowners by enabling power and water monitoring and management, reducing the time, effort, and cost to running a home, and providing a sense of personal enjoyment and safety. It utilizes broad multi -media management, web access, Microsoft's Windows Media Center, and intuitive setup and operation to provide users quick, easy access to monitor and manage the operation of their home.
Cortexa offers a complete range of subsystem support to collaboratively manage the entire residential environment to ensure that users' homes automatically operate in a manner that complements and supports their lifestyle. Supported subsystems include lighting; interior climate control; whole home audio and video entertainment; motorized shades and curtains; security; video cameras; irrigation systems; pools and spas; garage doors; and automatic gates.
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