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Fusion-io Appoints Dennis Wolf as Chief Financial Officer to Guide the Company’s Rapid Revenue Growth

Fusion-io, inventor and leading provider of a new Flash-based, solid-state memory tier (ioMemory), today announced that Silicon Valley veteran Dennis Wolf has joined the company as senior vice president and CFO to help it manage its rapid growth as it continues to expand into new markets around the globe. Although Fusion-io is a privately held company and doesn’t disclose financial details, Wolf’s arrival is timely, as Fusion-io is experiencing more than 80 percent quarter-over-quarter sales growth and more than 300 percent sales growth year-over-year.

“I am incredibly pleased that someone of Dennis’ skill and reputation has joined the Fusion-io team. Unlike companies with an OEM-only sales model, our sales force can create pull for our OEMs and gain valuable insight into our customer base by driving sales growth directly at the customer level. This model allows us to focus on fully meeting customer needs while supporting our strategic partners, which include the world’s top three server vendors,” said David Bradford, CEO of Fusion-io. “With such a steep ramp ahead and NAND supplies only getting tighter, this visibility, coupled with a disciplined, strategic-minded CFO like Dennis Wolf, will only add fuel to our accelerated market expansion and continued success."

“In the 20 years I’ve been working in this industry, I’ve never seen a company grow this fast and I believe we are well poised to triple our growth in 2010,” said Jim Dawson, senior vice-president of worldwide sales for Fusion-io. “As a young company experiencing such incredible, rapid expansion, Dennis’ financial expertise and broad understanding of the marketplace will be essential to our continued ability to meet customer demand.”

Wolf is a seasoned executive who has led several public and private companies as CFO, COO and CEO. He brings more than 30 years of leadership experience in high-growth technology companies, with work in finance and other disciplines. Most recently, he served as executive vice president and CFO at MySQL, Inc., where he was integral in MySQL's growth strategy and its ultimate sale to Sun Microsystems in a transaction valued at $1 billion.

“I know an innovative company when I see one, and Fusion-io is one of those companies which is why I'm excited to be a part of it. Not only have they emerged as an industry leader in the growing field of solid-state enterprise technologies, they created this market for server-deployed, Flash-based solid-state as a new memory tier,” said Wolf. “Although Fusion-io is a private company and we don't usually discuss revenues, I'm pleased to say the quarterly numbers have eight digits and we're growing rapidly. This technology is truly groundbreaking and disruptive and the talent base here is extraordinary. I believe our numbers are a testament to the fact that we've got the right recipe for success in this emerging market.”

Today's enterprise SSDs are built to imitate the traditional hard disk form factor. As a result, they are relegated to a random, high-IOPS niche, only good for use as a performance-accelerating replacement to traditional hard disks in devices that already used them, such as NAS or SAN systems.

By contrast, Fusion-io offers the enterprise a new memory tier that fits directly into every server in the world via its PCI Express form factor. This new memory tier dramatically accelerates systems, applications and databases. At the same time, it significantly reduces capital expenses associated with meeting the growing performance requirements of today's data centers and consolidating infrastructure and the associated operational expenses for power, cooling, floor space and management. The universal applicability and significant savings associated with Fusion's ioMemory technologies help explain the company's rapid ascent to the top of the solid-state marketplace, because the technology provides not only industry-leading performance but also an architecture that, unlike enterprise SSD's, makes data center consolidation possible.

For more information on Fusion-io, visit www.fusionio.com.

About Fusion-io

Fusion-io is a leading provider of enterprise solid-state technology and high-performance I/O solutions. The company’s solid-state technologies close the gap between processing power and I/O needs, delivering breakthrough performance at a fraction of the cost of traditional disk-based storage systems. The result is a world of possibilities for performance-starved applications, including infrastructure consolidation that leads to less complexity and dramatic savings in operational costs. For more information, please visit www.fusionio.com.

Contacts:

Fusion-io
Robert Brumfield, 917-224-7769
MARCOM Director
bbrumfield@fusionio.com
or
Fusion PR
Janet Park, 212-651-4210
janet.park@fusionpr.com

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