James D. Robinson III to Join Semtek Board of Directors

SAN DIEGO, Feb. 24 /PRNewswire/ -- Semtek Innovative Solutions Corporation announced today that James D. Robinson III has joined the Company's board of directors. Mr. Robinson is a general partner at RRE Ventures, a New York-based venture capital firm that has participated in both of Semtek's equity financing rounds.  Mr. Robinson replaces his RRE colleague Richard McGinn, who has served on Semtek's board since October, 2007.

"On behalf of all members of the Semtek team, I would like to thank Rich McGinn for his commitment to helping us build a successful enterprise.  His operational experience and strategic counsel have been pivotal in helping us achieve our goals," said Patrick Hazel, President and Chief Executive of Semtek.

Mr. McGinn commented, "I look forward to continuing to contribute and assist Semtek as they begin this next phase of growth and market adoption.  Semtek has an excellent opportunity to play a major role in resolving the security issues facing the payments industry."

In addition to his role as a General Partner and Co-Founder of RRE Ventures, Mr. Robinson was Chairman and CEO of American Express Company and Non-Executive Chairman of Bristol-Myers Squibb Company.  He served as a member of the Board of Directors of First Data Corporation and chairman of its Executive Committee prior to KKR taking the company private in 2007. In addition to the Semtek board, Robinson serves on the Board of Directors of The Coca-Cola Company, and is an advisor to Novell. He is Honorary Chairman of the Memorial Sloan-Kettering Cancer Center, an Honorary Trustee of the Brookings Institution, and Chairman Emeritus of the Partnership for New York City and the World Travel and Tourism Council. Robinson served as Co-Chairman of the Business Roundtable and as Chairman of the Advisory Committee on Trade Policy and Negotiations.  Mr. Robinson holds an MBA from Harvard University and a Bachelor of Science from Georgia Institute of Technology.

"Semtek is building a strong reputation as an end-to-end security solution to contain security risks for the card payments sector.  Its value-add to both acquiring and issuing sides of the card business is impressive and I look forward to working more closely with Pat and his team," Mr. Robinson said.

Mr. Hazel added, "Jim Robinson brings exactly the right balance of peerless industry reputation and independence that is so crucial to early stage technology companies as they emerge into their high growth phase.  We're looking forward to his insights and counsel as Semtek faces the challenges and opportunities of the coming years."

About RRE Ventures:

Since its founding in 1994, RRE Ventures has been dedicated to helping talented management teams build leading companies in the software, communications, and financial services industries. With $850 million in assets, the firm backs entrepreneurs and management teams that possess the knowledge, vision, and discipline to create market-dominating companies. RRE's team offers a unique combination of management, operations, and investment expertise as well as an unrivaled network of relationships that has helped build over 100 companies. For more information, visit http://www.rre.com

About Semtek:

Semtek is focused on resolving the security vulnerabilities of magnetic stripe, contactless, and EMV based payment systems and is playing an increasingly central role in the development and deployment of end to end security architectures that resolve the security risks associated with accepting and processing payment card data. For more information, please visit Semtek's website at http://www.semtek.com.

SOURCE Semtek Innovative Solutions Corporation