Pivot Technology Solutions, Inc. commences trading
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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 quickly."
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 at www.pivotts.com.
Marc Lakmaaker TMX Equicom email@example.com Tel: 416 815 0700
SOURCE: Pivot Technology Solutions, Inc.
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CO: Pivot Technology Solutions, Inc. ST: California NI: CPR ELE INTERNET MNA PVT
-0- Apr/01/2013 13:53 GMT