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Phil Huff Transitions Role at eLynx—Remains on Board of Directors
February 09, 2007
eLynx, a portfolio company of American Capital Strategies Ltd. (NASDAQ: ACAS), and provider of the largest secure electronic document communications network for the financial services industry, announced that effective as of January 31 eLynx president and CEO, Phil Huff, has decided to step down as president and CEO at eLynx and has turned the reins of the company over to Sharon Matthews, interim president and CEO. Huff will continue to serve on the eLynx Board of Directors, while aiding the transition to new leadership and assisting the sales and business development organizations.
"Under Phil’s leadership, the company has firmly secured leadership in Mortgage Banking; acquired Swiftview; and established a foothold in the Insurance sector," said Todd Wilson of American Capital, which purchased eLynx from Huff and his partners in December 2004. "Phil has built a strong organization with good momentum in the financial services space – he’s ready to move on, and the board fully supports him in this decision."
"The board and I are committed to working with all of our employees and customers to keep eLynx strong and healthy during this period," Huff said. "I’m confident that we’ll not only sustain momentum, but position the Company for unprecedented future growth. In short, the company is in excellent hands, and the time is right for me to start transitioning my responsibilities."
"With Sharon in place, eLynx won't miss a beat," Huff added. "She has extensive experience in running technology companies and will be a great asset to eLynx. During the transition period, in addition to working with Sharon, I will assist the sales and development teams to ensure that we maintain the highest levels of customer service, while capitalizing on our many growth opportunities."
Matthews said she looks forward to working with Huff in 2007. "With incremental growth through existing customers, coupled with new sales opportunities in both the Mortgage and Insurance sectors, this company is just beginning to tap its full potential. Phil and his team have established a solid base of customers by developing an impressive portfolio of technology solutions in the eBusiness space. We're confident we can meet the challenge of taking eLynx to new levels of growth and success."
About eLynx
eLynx, a portfolio company of American Capital Strategies Ltd. (NASDAQ: ACAS), provides the largest secure electronic document communications network for the financial services industry. Serving more than 500 financial institutions, including 17 of the top 20 mortgage lenders in the United States, the company's solutions enable businesses to capture and maintain data electronically throughout the document lifecycle, automating paper-intensive processes, improving workflow, reducing costs and ensuring compliance with evolving industry regulations. In 2006, eLynx services were used in more than 10 million financial transactions involving consumers, lenders and settlement agents.
eLynx was founded in 1994, and recently acquired SwiftView, Inc, a provider of electronic document viewing software and paperless document communications services. The company is headquartered in Cincinnati with additional operations, support, and research and development staff in Portland, Ore. For more information, please visit www.elynx.com and www.swiftview.com.