New CEO, $10 million for

SSN Staff  - 
Thursday, August 28, 2003

August 28, 2003

Eagle Broadband

LEAGUE CITY, Texas - Bundled digital services provider Eagle Broadband, who recently launched a home security division, announced Thursday that it had completed a $10 million round of funding and also appointed a new chief executive officer who will focus on expanding company revenues.

Dave Weisman, Eagle's new chief executive officer and member of the company's board of directors, will focus on leveraging the company's broadband businesses, accelerating the adoption of the company's products and technologies and bringing the company to profitability, according to company officials. Weisman will take over the role of chief executive officer from H. Dean Cubley, who will become the company's chief technology officer and remain as a board member.

The company announced in July that it had secured a letter of intent from Aggregate Networks for $10 million, funding that will allow it to pursue expansion plans in the residential, hospitality, aviation and government/military markets. The company will receive $3 million initially and at least $7 million within 90 days.