6 October 2004

Braintree CEO passes reigns back to founder

Braintree announced today that chief executive Mr Peter Hall has formally handed back the reigns to founder and chief technical officer Peter Mason.

Mr Hall joined Braintree in 2000 to manage Braintree 's transition from an engineering consultancy business to a proactive developer of embedded transactions systems for the financial industry. Customers now include Telstra, Optus, TNS Australia, NPBS and Cashcard.

Mr Hall said “My role was to ensure the smooth transition from consultancy to product development by putting in place the infrastructure, processes and strategies required to do this. The systems have now been implemented successfully and Braintree is moving forward”.

Braintree 's growth during Mr Hall's leadership is demonstrated through a three-fold employee growth from 2000 to 2004 and a four-fold increase in turnover for the same period.

Also, since Mr Hall joined Braintree , the company has relocated to cope with employee expansion, attained over $2 million in R&D funding for Braintree 's technology development and begun the implementation of its export strategy into the UK and Asia .

“Peter Hall has been instrumental in getting us to the stage that we are today and I look forward to working closely with him in the future as he will continue to play an important role in our development,” said Mr Peter Mason.

Mr Hall will remain as a key shareholder and management consultant to Braintree .

About Braintree Communications

Braintree Communications has supplied over 12,000 gateways in Australia that have carried over 60 million transactions. Braintree specialises in the design and development of data communication solutions that allow existing transaction terminals to connect to modern IP networks and transact immediately through embedded intelligent protocol conversion.

Braintree 's primary technology focus is on Short Duration Transaction Networks (SDTN) such as EFT applications like Point-Of-Sale and ATM connectivity, defence communications systems, security systems and financial services.

Braintree has been developing unique solutions since 1990 for clients such as Telstra, Optus, TNS Australia, Boeing, Cashcard and Ericsson.

Mr Peter Mason, Founder and Chief Technical Officer
Braintree Communications
Ph: +61 7 3033 8800

Mr Peter Hall
Ph: +61 (0)402 441 610
Email: peterchall@iprimus.com.au ADSL.


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