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CSP Inc. Announces Key Executive Management Team Appointment

BILLERICA, Mass., Dec. 8, 2014 (GLOBE NEWSWIRE) -- CSP Inc. (Nasdaq:CSPI), a provider of IT solutions, systems integration services and dense cluster computing systems, today announced the appointment of a new executive to the organization.

Craig Lund has joined the organization as the Vice President & General Manager of its High Performance Products segment.Lund has been working with CSPI in a consultant role since 2012, assisting with a top level analysis and business expansion plan for the Myricom acquisition. Prior to this, he was a consultant for the past six years, mostly helping clients take existing technology into new markets. Most of his customers were in the semiconductor space or building boards for embedded markets. Prior to this, he was the Chief Technology Officer for Mercury Computer Systems, a global manufacturer of highly specialized software and hardware. In his role as VP & General Manager of CSPI, Craig will run the day to day operations of CSPI, including sales, manufacturing and product management. He will specifically be focused on developing the future Myricom product roadmap, which is very important to the company's future growth.

In addition, Bill Bent has transitioned to a newly created role, Vice President, MultiComputer Product Line and Segment Engineering. In his new role, Bent will manage the Engineering and customer support organizations. His primary focus will be on managing the critical engineering timelines in support of product development on the software and hardware side of the business.

"Craig brings CSPI a wealth of experience to the organization," said Victor Dellovo, President and CEO, CSP Inc. "These critical changes will further support the future growth of CSPI, as well as propel sales growth in our existing markets for our Myricom product line. These areas are all core to our requirement to identify new market expansion opportunities for CSPI in the future."

About CSP Inc.

Based in Billerica, Massachusetts and founded in 1968, CSP Inc. and its subsidiaries develop and market IT integration solutions and high-performance computer systems to meet the diverse requirements of our industrial, commercial, and defense customers worldwide.

CSP Inc.'s High Performance Products & Solutions segment includes the MultiComputer Division, which designs and manufactures commercial high-performance computer signal processing systems for a variety of complex real time applications in defense and commercial markets. The Company also owns Myricom, a pioneer in high performance computing interconnect technology. Founded in 1970, Modcomp, Inc. is part of CSPI's Information Technology Solutions segment, and has offices in North America and Europe. Modcomp provides solutions and services for complex IT environments including disaster recovery, mobility, managed services, security, data center management, and collaboration. More information about CSP, Inc. is available at www.cspi.com. To learn more about Myricom or Modcomp, Inc., please visit www.myricom.com and www.modcomp.com.

CONTACT: Michele Merrell Vice President Global Marketing & Communications 954.571.4622 mmerrell@modcomp.com David Calusdian, Investor Relations Tel: 617.542.5300 dcalusdian@investorrelations.com

Source:CSP Inc.