Datawatch Reaches Agreement with Potrero Capital and Appoints Charles M. Gillman to the Board of Directors
(Thomson Reuters ONE) -
BEDFORD, Mass., April 22, 2016 (GLOBE NEWSWIRE) -- Datawatch
Corporation (NASDAQ-CM:DWCH) ("Datawatch") today announced it has reached an
agreement with Potrero Capital Research LLC, together with its affiliates
("Potrero Capital"). Pursuant to the agreement, Datawatch agreed to add Mr.
Charles Gillman, Executive Managing Director of the IDWR Multi-Family Office, to
the Datawatch Board of Directors, effective immediately. Mr. Gillman will fill
a vacancy created by the resignation of Dr. Terry Potter who will step down due
to other commitments. Upon his appointment to the Board, Mr. Gillman will join
the Corporate Governance and Nominating Committee and the Compensation and Stock
Committee.
Richard de J. Osborne, Chairman of the Datawatch Board of Directors, said:
"Datawatch believes the addition of Mr. Gillman will bring a fresh perspective
and valuable experience to the board. On behalf of my fellow directors, I also
want to thank Terry Potter for his more than eighteen years of distinguished
service to Datawatch."
Mr. Jack Ripsteen, Managing Member of Potrero Capital, said: "We are pleased to
have played a constructive role in helping refresh the Datawatch board. We are
confident that the addition of Mr. Gillman to the company's board will allow
Datawatch to effectively capitalize on available opportunities to drive
significant shareholder value."
Mr. Gillman said, "I am excited to join the board of directors of Datawatch. I
look forward to working constructively with the board and management team in
creating value for Datawatch shareholders."
Pursuant to the agreement, Potrero Capital has agreed to customary standstill
provisions. The complete agreement between Datawatch and Potrero Capital will be
included as an exhibit to a Current Report on Form 8-K filed with the Securities
and Exchange Commission.
Datawatch retained Cadwalader, Wickersham & Taft LLP as legal adviser in
connection with the agreement. Olshan Frome Wolosky LLP served as legal adviser
to Potrero Capital.
ABOUT DATAWATCH CORPORATION
Datawatch Corporation (NASDAQ-CM: DWCH) enables ordinary users to deliver
extraordinary results with all their data. Only Datawatch can unlock data from
the widest variety of sources and prepare it for use with visualization tools or
other business processes. When real-time visibility to rapidly changing data is
critical, Datawatch enables you to visualize streaming data for the most
demanding business environments such as capital markets. Organizations of every
size worldwide use Datawatch products including 93 of the Fortune 100. Datawatch
is headquartered in Bedford, Massachusetts with offices in New York, London,
Frankfurt, Stockholm, Singapore, and Manila, and with partners and customers in
more than 100 countries worldwide. See how Datawatch can help you by
downloading a free version at www.datawatch.com.
ABOUT POTRERO
Potrero Capital Research, LLC is an investment firm headquartered in San
Francisco, CA focused on small-cap equity securities.
ABOUT CHARLES GILLMAN
Charles M. Gillman is the Executive Managing Director of the IDWR Multi-Family
Office ("IDWR"), a multi-family investment firm. IDWR employs a team of
analysts with expertise in finding publicly traded companies that require
operational enhancement and an improvement in corporate capital allocation. From
June 2001 to June 2013, Mr. Gillman was a portfolio manager of certain family
office investment portfolios at Nadel and Gussman, LLC. Prior to his employment
at Nadel and Gussman, Mr. Gillman worked in the investment industry and as a
strategic management consultant at McKinsey & Company.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995
Any statements contained in this press release that do not describe historical
facts may constitute forward-looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. Any such statements, including
but not limited to those relating to results of operations, contained herein are
based on current expectations, but are subject to a number of risks and
uncertainties that may cause actual results to differ materially from
expectations. The factors that could cause actual future results to differ
materially from current expectations include the following: risks associated
with the continuing weak global economy; risks associated with fluctuations in
quarterly operating results due, among other factors, to the long sales cycle
with enterprise customers and the size and timing of large customer orders;
risks associated with acquisitions; the risk that our goodwill resulting from
acquisitions may become impaired and require a write-down; limitations on the
effectiveness of internal controls; rapid technological change; Datawatch's
dependence on the introduction of new products and product enhancements and
possible delays in those introductions; competition in the software industry
generally, and in the markets for next generation analytics in particular;
Datawatch's dependence on its principal products, proprietary software
technology and software licensed from third parties; Datawatch's concentration
of customers in the financial sector; risks associated with international sales
and operations; risks associated with indirect distribution channels and co-
marketing arrangements, many of which were only recently established; the
adequacy of Datawatch's sales returns reserve; risks associated with a
subscription sales model; Datawatch's dependence on its ability to hire and
retain skilled personnel; disruption or failure of Datawatch's technology
systems that may result from a natural disaster, cyber-attack, security breach
or other catastrophic event; and uncertainty and additional costs that may
result from evolving regulation of corporate governance and public disclosure.
Further information on factors that could cause actual results to differ from
those anticipated is detailed in various publicly-available documents, which
include, but are not limited to, filings made by Datawatch from time to time
with the Securities and Exchange Commission, including but not limited to, those
appearing in the Company's Annual Report on Form 10-K for the year ended
September 30, 2015 and its Form 10-Q for the quarter ended December 31, 2015.
© 2016 Datawatch Corporation. Datawatch and the Datawatch logo are trademarks or
registered trademarks of Datawatch Corporation in the United States and/or other
countries. All other names are trademarks or registered trademarks of their
respective companies.
Investor Contact:
Datawatch Investor Relations
investor(at)datawatch.com
Phone: (978) 441-2200 ext. 8323
Media Contact:
Erin Hoesly
Datawatch Corporation
Erin_Hoesly(at)datawatch.com
Phone: (978) 441-2200 ext. 8322
Twitter: (at)datawatch
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Datawatch Corporation via GlobeNewswire
[HUG#2005978]
Unternehmensinformation / Kurzprofil:
Datum: 22.04.2016 - 14:55 Uhr
Sprache: Deutsch
News-ID 465875
Anzahl Zeichen: 8121
contact information:
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