Webroot hires veteran CFO

BOULDER – Webroot Software Inc., a Boulder-based security software company, has hired Frederick Ball as its chief financial officer.

Ball will oversee Webroot’s financial operations and help to drive the company’s upcoming growth initiatives.

Most recently Ball was CFO for BigBand Networks (Nasdaq: BBND) where he led the company through a successful initial public offering in 2007. Following the IPO, Ball was responsible for scaling BigBand Networks’ infrastructure to support its rapid growth and ability to operate as a public company.

As early as 2005 Webroot began prepping to go public but has yet to make the move because of the economic climate. Former CFO, Mike Irwin, told the Business Report that the company was “building our planning around an IPO opportunity,” in 2005.

Peter Watkins said the hiring of Ball was “not necessarily” part of the IPO process.

“He has taken companies public in the past, but that wasn’t the driving force,” Watkins said. “We’re getting bigger, and we needed someone who has dealt with larger companies.

“If you look at the market lately it is not exactly receptive. The market – by every projection – is absolutely not receptive to (technology companies) IPOs.”

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