New X5 Solutions CEO To 'Evolve' Telecom Company
Submitted by Mark Haranas on

What is your vision for X5 products/solutions?
The vision is to evolve the business model from a carrier to a communications company. We will take advantage of the of the Information Technology industry "third platform" evolution -- cloud computing, mobile computing, big data and social networking. Specifically, our larger growth initiative is focused on the emergence of technology as-a-service, XaaS, which delivers value by addressing the needs of business through technology-enabled services via cloud computing.
Talk about why this acquisition happened.
A critical first step in our long term growth strategy was to start with the right platform acquisition. Our filter required a Network Services firm of relevant size and profitability which was operating in an NFL market with strong management, technical and sales talent serving mid-market enterprise customers. We conducted an extensive search and due-diligence on multiple targets, and X5 Solutions was clearly the best fit for us.
Why take the new job as CEO?
For me, this is the logical next step in the process. My business partner, Rick Hirsh - now X5's Chairman - and I built the investment thesis and promoted the initiative to the capital markets. We were fortunate to have locked up with NewSpring Capital. X5 Solutions is now a portfolio company of New Spring Holdings, the firm’s dedicated control buyout strategy. We have a strong financial partner, an equally strong board and a great platform company. I am excited about applying my experiences, passions and skills to this new project.