Luxembourg, August 8, 2014 - Altisource Portfolio Solutions S.A. ("Altisource" and NASDAQ:ASPS), a premier marketplace and transaction solutions provider for the real estate and mortgage industries, announced that Girish Juneja has been named Chief Technology Officer. Reporting to the President of Technology Services, Juneja will be responsible for guiding Altisource's technology vision, creating cloud-enabled development platforms that Altisource and its Labs' portfolio companies are using to rapidly build the next generation of software applications for the financial services sector. A seasoned technology executive with roots in big data, cloud infrastructure and software-as-a-Service (SaaS) platforms, Juneja will lead technology teams across its global footprint in Atlanta, Bangalore, Boston, Dallas, Irvine, Luxembourg, Los Angeles, and Seattle.
Before joining Altisource, Juneja was General Manager, Big Data Products and Chief Technology Officer of Data Center Software at Intel Corporation. There, he led the company's big data software strategy, drove the technology vision for Intel's data center software and launched the Intel Hadoop platform worldwide. As part of Intel's executive team, he helped lead several strategic acquisitions including the acquisition of McAfee, Inc. Girish came to Intel through the acquisition of Savega, Inc., a company he co-founded that led industry innovations in XML acceleration. Girish holds a M.S. in Computer Science and an MBA in Finance & Strategy from the University of Chicago.
Juneja said, "I am thrilled to join Altisource at this pivotal time in the development of the company's vision for its technology platform. Altisource has assembled an impressive combination of technology leaders, software assets and marquee customers. The company's unique position to create a new, cloud-enabled platform for an entire industry really drew me to Altisource."
William B. Shepro, Chief Executive Officer of Altisource, said, "Girish combines big data and cloud services know-how with a truly entrepreneurial spirit. Girish's record of success at Intel speaks volumes about his ability to build scalable enterprise software platforms that enable global marketplaces."
Mark J. Hynes, President of Technology Services at Altisource, said, "I am very pleased to have Girish join our team. His expertise and leadership will be instrumental as we continue to develop our unique global accelerator model of developing next-generation software innovations for the mortgage and real estate marketplaces."
This press release contains forward-looking statements that involve a number of risks and uncertainties. Those forward-looking statements include all statements that are not historical fact, including statements about management's beliefs and expectations. Forward-looking statements are based on management's beliefs as well as assumptions made by and information currently available to management. Because such statements are based on expectations as to future economic performance and are not statements of historical fact, actual results may differ materially from those projected. The Company undertakes no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to: Altisource's ability to retain existing customers and attract new customers; general economic and market conditions; governmental regulations, taxes and policies; availability of adequate and timely sources of liquidity; and other risks and uncertainties detailed in the "Forward-Looking Statements," "Risk Factors" and other sections of the Company's Form 10-K and other filings with the Securities and Exchange Commission.
Altisource is a premier marketplace and transaction solutions provider for the real estate, mortgage and consumer debt industries offering both distribution and content. We leverage proprietary business process, vendor and electronic payment management software and behavioral science based analytics to improve outcomes for marketplace participants. Altisource was named the 20th fastest growing global company by Fortune for 2013. Additional information is available at www.altisource.com.
About Altisource Labs
Altisource Labs provides compelling startup opportunities for premier technology talent to help build the next-generation of disruptive software solutions. Altisource Labs includes a global technology Accelerator where teams are incubating and accelerating the next wave of enterprise and Big Data software companies. To support its growth the Labs is hiring hundreds of technology professionals over the next 12 to 18 months, including executive, engineering, sales and product talent. For more information, visit www.altisourcelabs.com and follow @AltisourceLabs on Twitter, LinkedIn and Facebook.
Michelle D. Esterman
Chief Financial Officer
+352 2469 7950
617 728 5516