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Video software company SeaChange International Inc. has named Michael Bornak as its new chief financial officer, a role he will assume Jan. 23, according to a release.
In addition to the CFO title, Bornak will also hold the titles of treasurer, secretary and senior vice president of finance & administration, SeaChange (Nasdaq: SEAC) said in the release. Bornak comes to Acton-based SeaChange from Tollgrade Communications Inc., a once publicly traded Pennsylvania company that was taken private in a private equity sale to Golden Gate Capital in May 2011. SeaChange, for its turn, announced also in May that it was evaluating “strategic options” for the company, following a Wall Street Journal report that said the company was in acquisition talks with Arris Group Inc.
Bornak has served as CFO and treasurer at Tollgrade since 2009, and the release said that he “was instrumental in returning the company to profitability in 2010 and 2011 from years of losses.” Bornak has also served as CFO for Solar Power Industries Inc., MHF Logistical Solutions Inc., Portec Rail Products Inc., and was a certified public accountant at Ernst & Young. He holds an executive MBA from the University of Pittsburgh.
SeaChange provides video-on-demand television technologies and content technologies for customers like Comcast, Virgin Media, AT&T and DISH Network. In April 2010, SeaChange sold its stake in Andover-based Casa Systems Inc., which specializes in delivering video over cable networks, for $25.2 million.
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