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Martello Announces Retirement of Niall Gallagher from Board of Directors

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OTTAWA, ON, Sept. 22, 2020 /CNW/ - Martello Technologies Group Inc., ("Martello" or the "Company") (TSXV: MTLO), a developer of enterprise digital experience monitoring ("DEM") solutions announced today that Niall Gallagher has retired as a member of Martello's board of directors, following the Company's Annual and Special Meeting of Shareholders, held today in Ottawa. A co-founder of Martello and key player in the Company's early growth, Mr. Gallagher has been a member of Martello's board of directors since 2009, and was the Company's VP, Product Management until retiring from that position in December 2018.

Logo: Martello Technologies Group (CNW Group/Martello Technologies Group)
Logo: Martello Technologies Group (CNW Group/Martello Technologies Group)

"Niall played a pivotal role in Martello's early growth, and the entire Martello team is grateful to him for his vision, hard work and dedication to the Company's success", said John Proctor, President and CEO of Martello. "We wish him the very best as he begins a well-deserved retirement, and we will continue to work hard to grow the business that he co-founded 11 years ago".

Co-Chairman of Martello's Board of Directors Terry Matthews noted Niall's contribution to the Company's success: "Niall had a vision for Martello back in 2009, to develop performance monitoring software for the emerging world of unified communications. That vision remains core to the Digital Experience Monitoring strategy the Company embraces today, and it continues to drive the long-held partnership the Company enjoys with Mitel. I thank Niall for his vision and years of dedication to the success of Martello, and I do wish him well in the future", said Mr. Matthews.

"I'm extremely proud of what the team at Martello has accomplished over the last 11 years, including four acquisitions, a public listing, and solid year over year revenue growth", said Mr. Gallagher. "Today, the Company has a compelling market opportunity in digital experience monitoring, and though the time is right for me to retire from the board, I remain an engaged shareholder of the Company".

The board composition is currently 8 directors.

About Martello Technologies Group

Martello Technologies Group Inc. (TSXV: MTLO) is a technology company that provides digital experience monitoring (DEM) solutions. The company's products provide monitoring and analytics on the performance and user experience of critical cloud business applications, while giving IT teams and service providers control and visibility of their entire IT infrastructure. Martello's software products include unified communications performance analytics, Microsoft 365 end user experience monitoring and IT service monitoring and analytics. Martello Technologies Group is a public company headquartered in Ottawa, Canada with offices in Amsterdam, Geneva, Nice, Paris, Dallas and New York. Learn more at http://www.martellotech.com

This press release does not constitute an offer of the securities of the Company for sale in the United States. The securities of the Company have not been registered under the United States Securities Act of 1933, (the "1933 Act") as amended, and may not be offered or sold within the United States absent registration or an exemption from registration under the 1933 Act.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking statements". Forward-looking statements can be identified by words such as:"anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding accretive monthly recurring revenues and effect of closing on the Company's gross margins.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following:

  • Continued volatility in the capital or credit markets.

  • Our ability to maintain our current credit rating and the impact on our funding costs and competitive position if we do not do so.

  • Changes in customer demand.

  • Disruptions to our technology network including computer systems and software, as well as natural events such as severe weather, fires, floods and earthquakes or man-made or other disruptions of our operating systems, structures or equipment.

  • Delayed purchase timelines and disruptions to customer budgets, as well as Martello's ability to maintain business continuity as a result of COVID-19.

Any forward-looking statement made by us in this news release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

SOURCE Martello Technologies Group

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