I’m excited by the appointment of DWCH’s new CEO software veteran Michael Morrison. He continues to buy shares in the open market. Yesterday he added to his existing significant position purchasing 14,822 shares at 5.20. This brings his total holding to 93,703 shares. With only 2,740,000 shares in the float he holds 3.42% of the public float.
I believe it’s worth repeating the recent Yahoo news release.
“I am excited about this opportunity with Datawatch, and I thank the board for their confidence,” said Mr. Morrison. “Datawatch is an undiscovered jewel and has the potential to redefine the analytics market with a unique technology solution and an extensive and passionate customer base. By focusing the talents of the Datawatch team on delivering solutions that expand on the current success of our customers, we can change the way reporting is viewed in the analytics market, drive tremendous momentum, and grow significant shareholder value.”
Mr. Morrison was chief operating officer at Applix Inc., a leader in business analytics software. During his three-year tenure at Applix, Mr. Morrison was responsible for all sales operations, marketing, business development and customer support. During this time, the company emerged as the fastest growing vendor in its market segment, achieving compound annual growth rates in excess of 30 percent. Applix was acquired by Cognos in October 2007 for $339 million, almost six times its annual revenue.
Datawatch also announced that David Mahoney has been named a vice chairman of the board of directors. Mr. Mahoney, a current director, joined the board in September 2010. He will work closely with Mr. Morrison in implementing business strategy, developing strategic alliances and driving the Company’s growth agenda. Mr. Mahoney was previously CEO of Applix and worked closely with Mr. Morrison on the very successful turnaround at that company.
Both board members have recently added to their large position with open market purchases. David Mahoney is now sitting on 152,580 shares.