SAN ANTONIO--(BUSINESS WIRE)--
Carnegie Technologies Holdings, LLC and Founder Paul Posner (“Carnegie”), the holder of approximately 1.6% of the shares in magicJack VocalTec Ltd. (“magicJack” or the “Company”) (CALL), today issued the following statement regarding the 2016 Annual Meeting of Shareholders of magicJack.
Paul Posner, Founder and CEO of Carnegie Technologies, said, “As a result of Carnegie’s director nominations on January 5, 2017 and the strong response we received from fellow shareholders, magicJack’s Board has finally begun making positive steps towards unlocking shareholder value. We are encouraged by the Board’s recently announced strategic alternatives process and the engagement we have had with the Company over the last few weeks. Carnegie will continue to be an active participant in the strategic alternatives process and welcomes other parties involved, or considering involvement, to contact us to discuss joint transaction structures that are mutually beneficial.”
Added Posner, “At this important juncture for shareholder value creation, we have decided to withdraw our nomination of directors and we expect the Board to follow through, in a demonstrable and public way, on its commitment to the strategic alternatives process. We want to thank our fellow shareholders for their support in helping prompt this value creation process.”
About Carnegie Technologies and Paul Posner
Carnegie Technologies creates communications products that take advantage of the fundamental shifts occurring in the communications technology ecosystem. Founded in 2010 by Paul Posner, Carnegie Technologies has over 100 employees, engineering teams on four continents, and deep expertise in application development, mobile devices, and cellular core network operations. Paul Posner, prior to Carnegie, has a long history developing telecommunications companies including Pocket Communications, Discount Cellular & Paging, PageTexas, and several others, including a successful exit valued at more than $200 million from a wholly-owned cellular operation that he built from the ground up.