TIDMBIDS
RNS Number : 1197E
Bidstack Group PLC
02 July 2019
Certain information contained within this Announcement is deemed
by the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon
publication of this Announcement, this information is considered to
be in the public domain.
2 July 2019
Bidstack Group PLC ("Bidstack or "the Company")
Appointment of Derek Wise and other Board changes
Former CTO of Grapeshot and now VP Contextual Intelligence,
Oracle Data Cloud
Bidstack Group plc (AIM: BIDS.L), the native in-game advertising
group, is pleased to announce the appointment of Derek Wise as a
Non-Executive Director of the Company with immediate effect. In
addition, Derek will be appointed to the Audit and Remuneration
Committees.
Derek is a highly experienced software technologist who enjoys
combining the chaos of software development and live operations
with flexible production processes that make it possible to better
predict outcomes and drive efficiency.
On becoming Chief Technology Officer of Grapeshot in January
2017, Derek was its first experienced technology and product
management resource and took over software development, product,
support and operations globally to reorganize and grow the group.
Within 12 months of his joining, Grapeshot had grown revenues by
160% year-on-year while the team grew from 120 to well over 250.
Six months later he was responsible for the product and technology
pitch that eventually led to Oracle's acquisition of Grapeshot in
August 2018 (for an estimated $400m according to Wikipedia).
Currently VP of Contextual Intelligence with Oracle Data Cloud,
Derek has global responsibility for all products related to the
contextual understanding of data, manages a global team and is
accountable for global revenues and growth.
Prior to Grapeshot, following six years with the US Marines,
Derek started his technical career in 2000 with Enron Broadband. In
2001 he founded GNi and, over the following 7 years grew the
business from annual revenues of $200,000 to over $10,000,000,
turning it into one of the fastest growing technology companies in
the US. Since then he has held a series of Technical Director and
CTO roles with CCP, TRC Family Entertainment, Jagex and Benevolent
AI.
The Company also announces that both John Taylor and Lindsay
Mair, who have been non-executive Directors of the Company since 15
November 2017 are taking this opportunity to step down from the
Board with immediate effect, to pursue their other business
interests.
James Draper, CEO of Bidstack, commented, "Given the
attractiveness of our technical offering we have been looking to
add a Board member who has had experience of building and scaling
borderless enterprise technology which has then been acquired by a
major Silicon Valley player.
"Derek's technical background at the highest level of gaming,
coupled with his intimate knowledge of the contextual understanding
of data, is a perfect blend for us and his work as CTO of Grapeshot
eventually led to the its acquisition by Oracle.
"Derek has already been a fantastic sounding wall for our
management team and I'm sure that his insight will help Bidstack to
accelerate our growth further over the coming years.
"On behalf of Bidstack and the team I would like to thank both
John and Lindsay for their hard work and invaluable advice and
assistance in getting the business listed on AIM and helping us to
raise finance to grow our business. With Derek's appointment, they
both feel that the Company has a strong Board with the necessary
skills to embark on the next stages of its journey and now is an
appropriate time to step down. We wish them both well in their
future business endeavours."
Derek Wise said, "I'm a technologist at heart with a passion for
people and process management. I m always on the lookout for new
technologies and solutions to help bridge the gulf of uncertainty
in software development, product development, and server
operations. Bidstack's technology is new and exciting as it opens
up a whole new market to digital advertisers. That is why I am
delighted to be joining Bidstack's Board."
John Taylor remarked, "Both Lindsay and I came on board in
November 2017 to find a business for the Company when it was an AIM
Rule 15 cash shell and guide it through the reverse takeover
process. We are delighted that the Bidstack business has been such
a success and feel that now is an appropriate time to step down in
order to allow others with much more relevant skill sets to help
the Company continue to expand."
Further information on Derek Wise is set out below.
Contacts
Bidstack Group PLC
James Draper, CEO +44 (0) 7850 341 885
SPARK Advisory Partners Limited (Nomad)
Mark Brady/Neil Baldwin/James Keeshan +44 (0) 203 368 3550
Peterhouse Capital Limited (Broker)
Eran Zucker/Lucy Williams/Duncan Vasey +44 (0) 20 7409 0930
Further information on Derek Wise:
Derek Joseph Wise (aged 43) is not currently a director of any
company and has not been a director of any company in the past five
years.
There is no further information on Derek Wise required to be
disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM
Rules for Companies.
As part of his package, the Company intends to grant Mr Wise
options over 1 million shares exercisable, in respect of 70% of
such options, at 31.75 pence per share and, in respect of the
remaining 30% at 50 pence per share. Mr Wise does not have any
other interest in the issued share capital of Bidstack.
ENDS
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END
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