Pivot Technology Solutions Appoints New CFO
TORONTO, Aug. 8, 2016 /CNW/ - Pivot Technology Solutions, Inc. ("Pivot" or the "Company") (TSX-V: PTG), today announced that, subject to TSX Venture Exchange approval, the Company has appointed Mr. Brian Kyle as its new CFO, effective immediately.
"We are extremely pleased to attract someone of Brian's calibre to join our management team," stated Kevin Shank, CEO of Pivot. "His track record as a public company CFO speaks for itself, and his experience in the technology and software services industries aligns closely with our key strategic initiatives. Brian will be an integral part of the team tasked with the future expansion of Pivot. As such, he will carry responsibility for the implementation of certain strategic initiatives, such as our normal course issuer bid, as well as play a key role in helping the Company further improve its financial performance. Additionally, his capital markets experience and reputation will be strong assets in the implementation of our investor relations program."
Mr. Kyle stated, "In Pivot I see a business with very strong technological capabilities, a highly capable and motivated work force, a solid and growing customer base, and a strengthening financial position. I also see strong growth potential, especially in the services area. This is what attracted me to the Company, and I look forward to making a contribution towards capitalizing on the opportunities Pivot is creating, as well as pro-actively engaging with the capital markets to increase the Company's visibility and highlight its value."
Mr. Kyle, who brings over 25 years of senior financial and strategic planning experience to Pivot, has a proven track record of building shareholder value and a strong capital markets reputation in the U.S. and Canada. He joins Pivot from ALSA Capital Ltd, a specialized asset management firm, where he was partner and co-founder. Prior to ALSA, Mr. Kyle spent 5 years at TSX-listed DH Corporation, where he was CFO and helped transform the organization into a leading financial technology and software as a service (SAAS) company. At DH, he oversaw six acquisitions, divested five businesses, streamlined the Company's cost base, as well as accessed both the Canadian and U.S. capital markets on numerous occasions for equity and debt offerings. During his tenure, DH's market capitalization increased by over $2 billion. Prior to this, he held a number of senior financial positions in leading publicly traded technology, consumer product and manufacturing companies, including with Teranet, a provider of integrated land-based information systems and software services, where he oversaw the Company's $1 billion IPO on the TSX, as well as its subsequent $1.6 billion sale and privatization transaction. Mr. Kyle has been on a number of advisory boards and currently is a Board member of VersaPay Corporation, a TSX-V listed fintech company. Mr. Kyle is a member of the Chartered Professional Accountants of Ontario, holds an MBA from Queen's University School of Business and has an Honorary Doctorate in Laws from University of Windsor.
About Pivot Technology Solutions, Inc.
Together with its portfolio companies and partners, Pivot delivers solutions that enable organizations to design, build, implement and maintain computing and communication infrastructure that addresses their unique business needs. Pivot's approach supports improvement of business performance, helps organizations reduce capital and operating expenses, and accelerates the delivery of new products and services to end-customers. With over 2,000 customers, many of whom are Fortune 1000 companies, Pivot extends its value added solutions to help organizations of all sizes improve operating efficiency, reduce complexity and enhance service delivery through virtualization and cloud computing. Pivot enables businesses to extend their enterprise through mobility solutions to better connect business partners and customers. Pivot has offices throughout North America and can be found online at www.pivotts.com.
Forward Looking Statements
This news release contains statements that, to the extent they are not recitations of historical fact, may constitute "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements include statements regarding the further improvement in the Company's financial performance and the Company's growth potential, and the assumptions underlying any of the foregoing. Pivot uses words such as "may", "would", "could", "will", "likely", "expect", "believe", "intend" and similar expressions to identify forward-looking statements. Any such forward-looking statements are based on assumptions and analyses made by Pivot in light of its experience and its perception of historical trends, current conditions and expected future developments, including the assumption that all regulatory and corporate approvals for the share consolidation will be received prior to the expected effective date. However, whether actual results and developments will conform to Pivot's expectations and predictions is subject to any number of risks, assumptions and uncertainties. Many factors could cause Pivot's actual results to differ materially from those expressed or implied by the forward-looking statements contained in this news release. These factors include, without limitation: the risk that the Company's financial performance will not further improve and the Company, including its services division, will not grow further. The "forward-looking statements" contained herein speak only as of the date of this press release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Pivot Technology Solutions, Inc.