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CARLSBAD, CA, April 1, 2013 /CNW/ - Pivot Technology Solutions, Inc. ("Pivot"
or the "Company") (TSX-V: PTG) announces that its common shares will begin
trading on the TSX Venture Exchange ("TSXV"), effective today at market open
under the symbol "PTG". The listing follows Pivot's successful reverse
take-over (RTO) of Acme Capital Corporation.
Pivot - co-founded by former Apple Inc. CEO and PepsiCo Inc. President John
Sculley - is one of North America's largest multi-vendor solutions providers
(MVSP). With over 2,000 clients and over 70% of 2012 revenues from Fortune
100 companies, Pivot has grown rapidly since its incorporation in 2010,
organically through partnerships and acquisitions. For the first nine months
of fiscal 2012, Pivot achieved revenues of $1.1 billion.
Together with its portfolio companies and partners, Pivot specializes in the
design and implementation of large-scale, complex IT projects. Focused on
data center, storage and virtualization initiatives, Pivot helps its clients
better align their IT strategy with corporate objectives. The Company
assists its clients in business model and process change, accessing new
revenue streams and improving operational efficiencies.
Greg Gallagher, CEO for Pivot, stated, "With an expanding network of over four
hundred vendors, we are able to source the best and most appropriate
technologies for the design of any particular technology solution, rather than
being beholden to a single brand. For our clients, dealing with only one
solutions provider, significantly reduces complexity, and increases efficiency
of the investment and transformation process. At the same time, clients are
able to achieve the optimal solution for their specific challenge. This
approach positions Pivot uniquely in an underserved niche of the market, and
clearly has found resonance with clients, allowing us to achieve critical mass
Mr. Gallagher continued, "Our listing is the next step in our mission to
become the leading MVSP in North America. We are looking to increase our
footprint in our existing key market verticals of Technology, Financial
Services, Health Care and Telecommunications, as well as expand into new
markets. Through our portfolio of companies and partners, we have built a
strong foundation for growth, which will be accelerated by our new access to
the equity and debt capital markets."
Concurrent with the RTO of Acme Capital Corporation, Pivot raised $3.5 million
in a private placement, priced at $0.80 per common share. Following the RTO,
Pivot has 65,469,125 million common shares outstanding, as well as 102,452,501
million Series A preferred shares.
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
clients, many of whom are Fortune 1,000 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
Marc Lakmaaker TMX Equicom firstname.lastname@example.org Tel: 416 815 0700
SOURCE: Pivot Technology Solutions, Inc.
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-0- Apr/01/2013 13:53 GMT
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