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.