Steven M. Cakebread, Noted Silicon Valley Corporate Leader Accepts Role as Chief Financial Officer and Chief Administrative Officer of Commercial Quantum Computing Company, D-Wave Systems Inc.

BURNABY, British Columbia and PALO ALTO, Calif., Feb. 28, 2013 /CNW/ - D-Wave Systems, Inc., the world's first commercial quantum computing company, today announced that Silicon Valley corporate technology leader, Steven M. Cakebread has accepted key roles with the company, as chief financial officer and chief administrative officer.

"We are very pleased that Steve has chosen to join us," stated Vern Brownell, D-Wave president and chief executive officer. "He brings proven business acumen and a rich background of experience. It's gratifying to welcome a person of Steve's prominence and stature from the Silicon Valley arena of business innovation."

Cakebread will further manage and help sustain balance in D-Wave's corporate expansion trajectory as it pursues its mission to solve the intractable problems of industry, security, aerospace and medicine. Before joining D-Wave, Cakebread served as chief financial officer of Pandora Media, Inc., a provider of personalized Internet radio and music discovery services. He was president and chief strategy officer of salesforce.com, a customer relationship management service provider. Other roles with salesforce.com include executive vice president and chief financial officer. Before that, Cakebread served as senior vice president and chief financial officer at Autodesk and Silicon Graphics World Trade. Cakebread holds a B.S. in business from the University of California at Berkeley and an M.B.A. from Indiana University.

"It's a privilege to be part of the next big leap in computing," stated Cakebread. "Classical processors have a new partner and there's no limit to how far humanity can advance with the power of quantum computers. Clearly, D-Wave is leading this next generation of computing."

About D-Wave Systems Inc.

Founded in 1999, D-Wave's mission is to integrate new discoveries in physics and computer science into breakthrough approaches to computation. The company's flagship product, the D-Wave One™ is built around a novel type of superconducting processor that uses quantum mechanics to massively accelerate computation. In 2010 Lockheed Martin purchased serial number 1, completing the historic world's first sale of a commercial quantum computer. With headquarters near Vancouver, Canada, the D-Wave U.S. offices are located in Palo Alto. D?Wave has a blue-chip investor base including Bezos Expeditions, Business Development Bank of Canada, Draper Fisher Jurvetson, Goldman Sachs, Growthworks, Harris & Harris Group, In-Q-Tel, International Investment and Underwriting, and Kensington Partners Limited. For more information, visit: www.dwavesys.com

Media contact: Janice Odell • 415. 738.2165 • [email protected]

This press release may contain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements.

SOURCE: D-Wave Systems, Inc.

http://www.dwavesys.com