Ubilite Hires Marty McDermut as Its New CFO
July 12 2024 - 10:00AM
Business Wire
Ubilite Inc. (“Ubilite”) announced today Martin “Marty” McDermut
as the company’s new Chief Financial Officer effective July 8,
2024. McDermut will report to CEO Peter Gammel and will be
responsible for Ubilite’s corporate finance, accounting and
administrative functions.
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Marty McDermut (Photo: Business Wire)
McDermut, with more than 30 years of broad financial leadership,
has a strong track record in strategic and financial planning,
business development, mergers and acquisitions, and public equity
markets for technology companies. Prior to joining Ubilite,
McDermut served as Chief Financial Officer of Resonant Inc., a
publicly traded RF technology venture start-up. In March 2023
Resonant was sold to Murata Manufacturing Co., Ltd. McDermut served
as Vice President and Chief Financial Officer of Applied Micro
Circuits Corporation, a publicly traded semiconductor company, from
January 2016 to February 2017 when the company was acquired by
MACOM Technology Solutions Holdings, Inc. Prior to that, McDermut
served as Senior Vice President, Finance and Chief Financial
Officer of Vitesse Semiconductor Corporation, a publicly traded
semiconductor company, from August 2011 to April 2015 when the
company was acquired by Microsemi Corporation. Prior to that,
McDermut served as a managing director and consultant at Avant
Advisory Group, LLC, a management consulting firm based in Los
Angeles and Santa Barbara, CA. He also served as chief financial
officer for other publicly traded companies including Iris
International Inc. and Superconductor Technologies Inc. He was a
partner at the public accounting firm of Coopers & Lybrand LLP
(now known as PricewaterhouseCoopers LLP).
McDermut is a Member Board of Trustees, CSUCI (California State
University Channel Islands) Foundation, Camarillo, CA, and Co-Chair
Finance Committee.
McDermut holds a BA in economics from the University of Southern
California and an MBA from the University of Chicago Booth School
of Business. He is a Certified Public Accountant.
“We are very happy to have Marty joining Ubilite in the position
of CFO to help us manage our growth phase,“ said Peter Gammel, CEO
of Ubilite. “Marty’s wide experience in the semiconductor industry
will be a great asset to Ubilite as we move to the commercial
stage.”
“I am very excited to join the Ubilite team during this period
in their growth,” said Marty McDermut, the newly appointed CFO of
Ubilite. “I look forward to drawing upon my experience to advance
Ubilite’s operational excellence and discipline, as we deliver for
our stakeholders and drive shareholder value.”
About Ubilite Inc.
Founded in 2014, Ubilite is a fabless semiconductor company
developing Ultra Low Power Wi-Fi Chipsets for IoT applications.
Ubilite has developed the lowest power 802.11 Wi-Fi SoC on the
market with power consumption that is lower than Bluetooth. The
Ultra Low Power requirements enable very long battery life or the
ability to use energy harvesting to enable continuous operation for
years.
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Clint Brown cbrown@ubilite.com