Ubilite Elevates Financial Leadership with Marty McDermut as New CFO

“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.”

Ubilite Inc. (“Ubilite”) has announced the appointment of Martin “Marty” McDermut as the company’s new Chief Financial Officer, effective July 8, 2024. McDermut will report directly to CEO Peter Gammel and will oversee Ubilite’s corporate finance, accounting, and administrative functions.

McDermut brings over 30 years of extensive financial leadership experience to Ubilite, with a proven track record in strategic and financial planning, business development, mergers and acquisitions, and public equity markets, particularly within the technology sector. Prior to his new role at Ubilite, McDermut was the Chief Financial Officer at Resonant Inc., a publicly traded RF technology start-up that was acquired by Murata Manufacturing Co., Ltd. in March 2023.

Before Resonant, McDermut served as Vice President and Chief Financial Officer of Applied Micro Circuits Corporation, a publicly traded semiconductor company, from January 2016 until its acquisition by MACOM Technology Solutions Holdings, Inc. in February 2017. He also held the position of Senior Vice President, Finance and Chief Financial Officer at Vitesse Semiconductor Corporation, another publicly traded semiconductor firm, until its acquisition by Microsemi Corporation in April 2015.

Additionally, McDermut has held various senior financial roles, including as a managing director and consultant at Avant Advisory Group, LLC, and as CFO for Iris International Inc. and Superconductor Technologies Inc. He began his career as a partner at the public accounting firm Coopers & Lybrand LLP (now PricewaterhouseCoopers LLP).

McDermut is actively involved in the community as a Member of the Board of Trustees for the CSUCI (California State University Channel Islands) Foundation and serves as Co-Chair of the Finance Committee.

He holds a Bachelor’s degree in Economics from the University of Southern California and an MBA from the University of Chicago Booth School of Business. McDermut is also a Certified Public Accountant.

Peter Gammel, CEO of Ubilite, expressed enthusiasm about McDermut’s appointment, stating, “We are very happy to have Marty joining Ubilite as CFO to support us through our growth phase. Marty’s extensive experience in the semiconductor industry will be a significant asset as we transition to the commercial stage.”

In his new role, McDermut commented, “I am very excited to join the Ubilite team during this period in their growth,” said Marty McDermut, the newly appointed CFO of Ubilite.”

About Ubilite Inc.

Founded in 2014, Ubilite Inc. is a fabless semiconductor company specializing in Ultra Low Power Wi-Fi Chipsets for Internet of Things (IoT) applications. Ubilite is renowned for developing the lowest power 802.11 Wi-Fi SoC available, with power consumption rates lower than those of Bluetooth. These ultra-low power requirements facilitate extended battery life and enable energy harvesting for continuous operation over several years.