This is an archived article that was published on sltrib.com in 2011, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.
Rapidly growing Adaptive Computing of Provo has a new CEO.
The company, which provides software to manage supercomputers and large banks of servers called clouds, has appointed Robert Clyde as CEO, according to an announcement prepared for release Tuesday.
Clyde, former chief technology officer at Symantec, takes over as CEO less than a year after an infusion of $14 million in venture capital aimed at accelerating the expansion of company.
Co-founder David Jackson, who had been CEO, remains at the company as CTO, as does brother Michael, who is president , chief operating officer and co-founder.
Clyde, who had been interim CEO at Adaptive Computing, said his appointment was the result of the board looking to push the company, which began in 2002, into a new growth phase.
"You can think about this move as a typical thing that happens as a company moves in its growth path from being a founder-owned-and-operated company," he said of Adaptive Computing, which has about 120 employees in Provo.
Clyde said the market for systems to operate cloud computers is growing at an annual clip of 45 percent and is estimated to reach $2.5 billion in 2015, according to a recent market survey.
After graduating from BYU, Clyde help found several Utah County companies, including Axent Technologies, which Symantec acquired in 2000 for about $1 billion.
In late 2010, Adaptive Computing received $14 million in financing, led by Intel Capital, along with Tudor Ventures and EPIC Ventures. Clyde had been part of EPIC.
Adaptive Computing also recently announced a new partnership in which its software runs with Hewlett-Packard's cloud-server products.
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