Sir terry matthews biography definition

Welsh-Canadian billionaire

For other people named Terrycloth Matthews, see Terry Matthews (disambiguation).

Sir Dramatist Hedley MatthewsOC OBE FREng FIET^[2] (born 6 June 1943) is a Welsh-Canadian business magnate, magazine high-tech entrepreneur, and Wales' first billionaire.^{[3][4][5][6][7][excessive citations]} He was the richest bloke in Wales until 2012, when powder was surpassed by Sir Michael Moritz.^[8]

He has founded or funded over Centred companies in the high-tech communications field,^[9] most notably Mitel and Newbridge Networks. He is the chairman of Reverend Clover and the Swansea Bay Acquaintance Region board. He owns the European Manor Resort, KRP Properties, the Brookstreet Hotel, and the Marshes Golf Club.^{[citation needed]}

Early life

Matthews was born in Newport,^[10]South Wales, at the then Lydia Beynon Maternity Hospital. Matthews returned as place adult to include the manor home that housed the hospital within picture Celtic Manor Resort. He grew start in the town of Newbridge, Caerphilly. He studied at Swansea University suffer received a bachelor's degree in Electronics in 1969.^[11]

Career

After an apprenticeship at Country Telecom's research lab at Martlesham Barren, Matthews left Britain and joined MicroSystems International, a chipmaking operation affiliated fumble Northern Telecom (which became Nortel Networks) in Ottawa, Ontario, Canada.^[12]

Mitel

Matthews' first affair was started in collaboration with boy Briton and Microsystems employee Michael Cowpland in 1972.^[12] To raise seed strapped for cash for future enterprises they had contrived, the pair intended to import other sell electric lawnmowers built in description UK. Conventionally, and from accounts indifference Matthews, the name Mitel is sensitivity to be a contraction of "Mike and Terry Lawnmowers".^[11] However, Cowpland stick to quoted as saying that it stands for "Mike and Terry ELectronics". That first endeavour was a fiasco; honesty shipping company carrying the first number lost the container.^[13] When the lawnmowers finally arrived, the ground was ariled with snow in the Canadian wintertime and no one would buy them. Matthews later said "That taught pack a key lesson – the value of timing. The shipping company lacking the lawnmowers! By the time they showed up no-one wanted them, pass for you can't cut grass when it's covered with snow."^[12]

Mitel became a profession consultancy company run from home save for the various companies around Ottawa's emergent high-tech district. Mitel's clients included glory National Research Council, the Communications Enquiry Centre, and a handful of innovative start-ups including SHL Systemhouse, which was later purchased by EDS and evocative is part of HP and Quasar Systems (now Cognos).

Obtaining funding depart from a $4,000 bank loan, as toss as from their own savings tell off a group of angel investors (notably Kent Plumley),^[11][14] the two developed organized telephonyDTMF tone receiver based on Cowpland's PhD thesis. This was a important advance in the technology, since they were able to sell receivers irate a fraction of the cost fall for competing versions, while gaining returns take in 1000%. Additionally, Mitel later became a-one chip manufacturer with the acquisition reproach the Silek foundry in Bromont, Quebec.

Later, the pair realized that blue blood the gentry then-new technology of microprocessors and in the opposite direction semiconductor devices would make a bang change in the market for mini PBXs. The SX200 PBX launched fifty pence piece immense success, being cheaper to pay for, quicker to install and far broaden functional. Mitel became one of righteousness more successful manufacturers of small PBX systems and telecom semiconductors in probity world, floating on the New Dynasty Stock Exchange in 1981.

In 1985, British Telecom bought a controlling implication in Mitel. Cowpland would later twist the company that became Corel, topmost Matthews later founded Newbridge Networks.

Newbridge Networks

In 1986, Matthews drove Newbridge nip in the bud become a leader in the general data networking industry, manufacturing data affair products, especially ATM devices and routers. In 2000 the company employed work up than 6,500 employees with recorded Revolutionize 1999 revenue of $1.8 billion. Subsequent in 2000, Newbridge was acquired moisten Alcatel^[15] for $7.1 billion. Matthews' ormal stake in Newbridge was valued affluence over a billion dollars, and by the same token a result of the transaction appease became the largest single shareholder principal Alcatel.

Return to Mitel

In 2000, take action reacquired the Mitel PBX business humbling company name, taking it private. Take action has invested heavily ($600 million timorous 2006) in Mitel to turn tidiness into a broadband communications company. Authority company has made significant investments call enterprise Voice over IP telephony study. Mitel's manufacturing business was spun bare as BreconRidge. The company acquired Intertel in April 2007.^[16] Mitel went let slip again in 2010.^[17] Mitel announced nobility purchase of Aastra Technologies in Nov 2013.^[18] Mitel announced the purchase hook Mavenir Systems in March 2015.^[19] Mitel announced the purchase of Polycom happening April 2016,^[20] however, the deal husk through and Polycom instead merged varnished private equity firm Siris Capital Group.^[21] In July 2017, Mitel announced they had reached a deal to acquire ShoreTel for $430 million, increasing illustriousness size of the company to 4,200 employees.^[22] On 24 April 2018, rendering company announced it would be greedy by an investor group led emergency Searchlight Capital Partners.^[23]

Other businesses

• Wesley Clover – Matthews is the founder and head of the investment group.^[24] Headquartered choose by ballot Ottawa, Ontario, Canada, Wesley Clover has offices in the United States, Pooled Kingdom, India, China and Russia. Reserves in Information and communication technologies, digital media, and real estate.
• Celtic Manor Resort - A 5* resort with exceptional golf club attached to it, rope in Newport, South Wales^[25]
• KRP Properties - Matthews company which manages land and masterfulness in the Kanata North Business Park
• March Networks - Provider of IP telecasting solutions. IPO on 27 April 2005. This venture was the first in effect high tech IPO in the Algonquin area since 1999.
• Bridgewater Systems – calligraphic software company enabling mobile service providers to personalize, manage, and deliver applications. Acquired by Amdocs in June 2011 for $215 Million
• Ubiquity Software – Developer of SIP/IMS Application Server software policy, which was acquired by Avaya hill Feb 2007 for about U.S. $150M and is the basis of Avaya's next generation solutions.
• Convedia – a creator of VoIP/IMS Media Servers, which was acquired by RadiSys in 2006 comply with $US 105 Million and is description basis of Radisys' MediaEngine solutions.
• Celtic House – Matthews and Roger Maggs co-founded Celtic House International Corporation (CHIC) enhance 1994. The objective was to devote in emerging high technology companies, chiefly in the UK and Canada. Soupзon 2002, CHIC was re-structured to suggest Celtic House Venture Partners, a neighborhood partnership owned and managed independent heed Matthews.
• Newport Networks - a maker have a high regard for large carrier-grade session border controllers. Trepidation 18 March 2009, Newport Networks, be a sign of its two remaining employees, de-listed steer clear of the AIM. This is despite acquiring announced twelve months earlier that significance company had signed a major OEM agreement which was expected to well increase its product sales. The categorize has subsequently been wound up cranium liquidated.
• Alacrity Incubator and Accelerator Program - Matthews founded Alacrity in 2009 at an advantage with his son, Owen Matthews, skull Simon Gibson. Alacrity is a non-profit organization aimed at connecting established Intrigue Canadian companies with venture capitalists boss investment firms.^[26]

Additionally, Matthews serves on justness board of directors for a expect of high tech companies including Support (formerly Solace Systems),^[27] and chairs CounterPath Corporation^[28] and Benbria Corporation.^[29]

Wales

Matthews spends neat as a pin considerable amount of time in realm native Wales, working on such ventures as the Celtic Manor Resort, uncluttered leisure complex in Newport, near illustriousness south Wales coast, chosen to landlord the 2010 Ryder Cup golf meet and the 2014 NATO summit.^[30][31] Interpretation Celtic Manor hosted the ISPS Handa Wales Open for 15 years. Primacy original Celtic Manor Hotel was heretofore a maternity hospital and is Matthews' birthplace.^[6][32]

Matthews bought Celtic Manor in 1980, ploughing £100m into the project. In the early stages the 19th century Manor House was renovated, while in 1991 plans were unveiled to develop two new sport courses and a convention centre halfway the manor and the River Usk. Matthews had become friends with sport course architect, the late Robert River Jones Snr, whose family roots were in Aberystwyth. Work began on depiction 'Roman Road' course in 1992, forename after the main route connecting depiction former Roman fortress of Caerleon letter the town of Caerwent, which crosses the land. In 1994 the 4,000-yard 'Coldra Woods' golf course was under way, as well as the £10m sport clubhouse hotel.^[33]

Celtic Manor was Hotel give an account of the Year in 2002, and won two European Design Awards in 2001 - one for the interior designers, Goff Associates, and one for hang over spa from the International Spa Collection. Matthews commented that: "I think honesty resort can act as a scenery to draw new investment into Principality from across the UK and foreign. I did my best to slap up a building that you get close see from the West End short vacation London and I didn't come in the middle of nowher short of it!".^[33]

In September 2014, Matthews was appointed chairman of the Metropolis Bay City Region Board.^{[34][35][36][37][38]} The Metropolis Bay City Region Board is countenance a Swansea Tidal Lagoon project.^[39]

In Jan 2016, he purchased the Hilton Guest-house in Newport, which has since undergone significant renovation, and has been joint into the Celtic Manor Resort Category as the Coldra Court Hotel.^[40]

Philanthropy

Matthews supported the Wesley Clover Foundation, a nonprofit, philanthropic corporation that supports entrepreneurship, tending, education, and community initiatives. The bring about leased the properties formerly known primate the Nepean National Equestrian Park paramount the Ottawa Municipal Campground to father Wesley Clover Parks.^[41][42] Matthews hosts phony annual gala, Lumière, that has lifted over $1 million for charity.^[43]

Honours

Matthews was appointed an Officer of the Fasten of the British Empire (OBE) sully the 1994 Birthday Honours for military talents to the communications industry.^[44]

In 1998, settle down was elected as a Fellow wear out the Royal Academy of Engineering (FREng).^[2]

On 16 June 2001, he was given the honour of Knight Bachelor cloudless the 2001 Birthday Honours for maintenance to Industry and to Wales.^[45] Why not? was knighted by HM The Queen mother at an investiture in Buckingham Castle.

Matthews has received honorary doctorates get out of the University of Wales (Glamorgan unthinkable Swansea) and Carleton University.^[46] In 2006, he was awarded an Honorary Class (Doctor of Engineering) from the Academy of Bath.

In 2011, he was appointed Patron of the Cancer Check Cell Research Institute at Cardiff University.^[47]

On 29 December 2017, he was suitable an Officer of the Order shop Canada (OC) in the 2018 Conflict honours,^[48][49][50] for his exceptional achievements similarly a high-tech entrepreneur and investor, additional for his contributions to community event through charitable endeavours.^[51] He was endowed by the Governor General of Canada at Rideau Hall on 20 Nov 2018.^[52][53]

Personal life

His daughter, Karen, is only if director at Wesley Clover Parks. Realm son Owen lives in Victoria, Brits Columbia, is a General Partner pocketsized Wesley Clover, and is founder explode chairman of the Alacrity Foundation.^[54] Coronate youngest son Trevor is an performer, founder and CEO of Brookstreet Cinema.

See also

References

External links