Parallels Inc is a worldwide leader in virtualization and automation software that optimizes computing for consumers, businesses, and service providers across all major hardware, operating system, and virtualization platforms. Founded in 1999, Parallels is a fast-growing company with 800 employees in North America, Europe, and Asia. Peter Bauert the present Chief Finance Officer and Chief Operating Officer of this virtualization and automation software company leads the corporation’s innovative growth and success in providing simple and yet efficient computer software for school, work or home applications. As much as the success is attributed to the company, the team of executives responsible for its achievements is also equally important.
Peter Bauert leads the Executive team of Parallels as its CFO and COO since March 2008. But prior to him joining Parallels, he had displayed tremendous success in his past affiliations, which made him the number one choice for Parallels. He started his career as a Development Manager for Siemens Stromberg Carlson in 1989. After staying for five years, he preceded to greener opportunities as Consultant for Bain & Co a privately held management consulting company in 1996. In 1997, Peter Bauert began his career in the software industry as VP for Corporate Development for Cybergold. He was the key person for business and corporate development functions, including identification, valuation, recommendation, and negotiation of acquisition targets and terms and was responsible for strategic partnerships within the business. Among the list of his accomplishments are:
- Increased revenues by negotiating content distribution agreements;
- Boosting revenue by more than 60% when Cybergold acquired iTarget;
- Closing a deal of substantial premium when he advised the CEO to sell the company to MyPoints;
- Drove e-traffic with a frequent shopper program in Smartfrog.com which he later sold to Cybergold.
- Raised Funding and grew operations of 100,000 active members;
- Established Distribution Agreements with other shopping related sites and negotiated the successful sale of the company.
Finding he liked the software industry, Peter Bauert’s growth in the business became unstoppable after that. He later became the CFO for SalesDriver in 2000 and was responsible for its strategy, corporate and business development functions in the internet industry. Just before his current post, he also became the EVP for Strategy & Operations in 2002 this time in the Computer Software Industry.