Ubilite Hires Marty McDermut as Its New CFO

SAN DIEGO--(BUSINESS WIRE)--Ubilite Inc. (“Ubilite”) announced today Martin “Marty” McDermut as the company’s new Chief Financial Officer effective July 8, 2024. McDermut will report to CEO Peter Gammel and will be responsible for Ubilite’s corporate finance, accounting and administrative functions.

McDermut, with more than 30 years of broad financial leadership, has a strong track record in strategic and financial planning, business development, mergers and acquisitions, and public equity markets for technology companies. Prior to joining Ubilite, McDermut served as Chief Financial Officer of Resonant Inc., a publicly traded RF technology venture start-up. In March 2023 Resonant was sold to Murata Manufacturing Co., Ltd. McDermut served as Vice President and Chief Financial Officer of Applied Micro Circuits Corporation, a publicly traded semiconductor company, from January 2016 to February 2017 when the company was acquired by MACOM Technology Solutions Holdings, Inc. Prior to that, McDermut served as Senior Vice President, Finance and Chief Financial Officer of Vitesse Semiconductor Corporation, a publicly traded semiconductor company, from August 2011 to April 2015 when the company was acquired by Microsemi Corporation. Prior to that, McDermut served as a managing director and consultant at Avant Advisory Group, LLC, a management consulting firm based in Los Angeles and Santa Barbara, CA. He also served as chief financial officer for other publicly traded companies including Iris International Inc. and Superconductor Technologies Inc. He was a partner at the public accounting firm of Coopers & Lybrand LLP (now known as PricewaterhouseCoopers LLP).

McDermut is a Member Board of Trustees, CSUCI (California State University Channel Islands) Foundation, Camarillo, CA, and Co-Chair Finance Committee.

McDermut holds a BA in economics from the University of Southern California and an MBA from the University of Chicago Booth School of Business. He is a Certified Public Accountant.

“We are very happy to have Marty joining Ubilite in the position of CFO to help us manage our growth phase,“ said Peter Gammel, CEO of Ubilite. “Marty’s wide experience in the semiconductor industry will be a great asset to Ubilite as we move to the commercial stage.”

“I am very excited to join the Ubilite team during this period in their growth,” said Marty McDermut, the newly appointed CFO of Ubilite. “I look forward to drawing upon my experience to advance Ubilite’s operational excellence and discipline, as we deliver for our stakeholders and drive shareholder value.”

About Ubilite Inc.

Founded in 2014, Ubilite is a fabless semiconductor company developing Ultra Low Power Wi-Fi Chipsets for IoT applications. Ubilite has developed the lowest power 802.11 Wi-Fi SoC on the market with power consumption that is lower than Bluetooth. The Ultra Low Power requirements enable very long battery life or the ability to use energy harvesting to enable continuous operation for years.