Evercel Announces two additions to the Board of Directors

Rhea-AI Summary

Evercel, Inc. (OTC: EVRC) has appointed Greg Falk and Ted Zagat to its Board of Directors, effective immediately. CEO Daniel Allen expressed confidence that their extensive backgrounds will enhance the board's expertise during a significant period of growth, particularly with the impending acquisition of ZAGG. Falk brings more than 25 years in M&A transaction services, while Zagat has a rich entrepreneurial background and previous leadership roles at Facebook and Zagat Survey. Together, they aim to drive value for Evercel's shareholders.

Positive

• Appointment of Greg Falk and Ted Zagat adds valuable expertise to the Board.
• Their backgrounds in M&A and technology investments may enhance growth prospects.
• The board expansion comes as Evercel prepares for the acquisition of ZAGG.

Negative

• Potential concerns over continuity as new members integrate into the existing board.

MIAMI, March 19, 2021 (GLOBE NEWSWIRE) -- Evercel, Inc. (OTC: EVRC) announced today that it has appointed Greg Falk and Ted Zagat to its Board of Directors effective immediately. "We are pleased to welcome Greg and Ted as new directors to the Evercel Board as we continue to grow Evercel,” said Daniel Allen, Evercel’s CEO. “They join Evercel’s Board at an exciting time as we consummate the acquisition of ZAGG and position Evercel for its next phase of growth.”

“The addition of these directors adds to our Board of Directors' skills and experiences, and we are confident they will provide valuable perspectives and guidance as we continue to enhance value for Evercel’s shareholders. We look forward to their contributions and are excited they chose to join our Board.”

About Greg Falk
Greg is a retired senior partner at top global accounting firms who has led their M&A transaction services practice. Greg has more than 25 years of experience providing his clients with due diligence and tax structuring advice in connection with domestic and cross-border mergers and acquisitions.

Most recently, Greg led the transaction advisory service practice at BDO in New York. Prior to BDO, Greg was with KPMG for 12 years serving as the Northeast M&A Tax leader and for 5 years, the National leader. Greg retired from KPMG in 2014.  Before KPMG, he spent 14 years (10 as a principal) with PwC in the M&A Tax Practice. Greg has experience across many industries, with both major corporations and private equity funds as clients. Greg advised Evercel on its acquisition of Printronix while at KPMG.

Upon graduation from law school, Greg began his career with the Internal Revenue Service’s National Office in Washington, D.C., where he specialized in corporate transactions. Greg received an A.B. in Economics from University of California, Berkeley, a J.D. from Western New England University School of Law, and an LL.M. from Georgetown University Law Center. Greg is a member of the American Bar Association.

About Ted Zagat
Ted is an entrepreneur and technology investor. Ted co-founded Rimeto, an enterprise directory software product. Slack purchased Rimeto in 2020, and Ted now leads Slack’s people & profiles product organization.

Before Rimeto, Ted worked at Facebook, where his team built Video and Brand products, developing a multi-billion dollar business from the ground up.

Previously, Ted was President of Zagat Survey, the user generated guide to restaurants and other leisure activities. He transformed the company into a digital media business (sold to Google in 2011).

As a technology investor, Ted made early investments in leading companies like DoorDash, Stripe (via Payable acquisition), Gusto, OpenTable, Viagogo (acquired StubHub), and Thrasio. 

Ted holds an AB degree from Harvard College and a MBA from Harvard Business School. He serves on the board of directors of the Palo Alto JCC.

About Evercel, Inc.
Evercel, Inc. is a holding company that brings an entrepreneurial approach to acquiring and managing businesses through a hands-on, data-driven approach as it partners with strong management teams to drive for long term results.

Evercel is currently exempted from the SEC’s periodic reporting requirements, and voluntarily reports financial and other information from time to time. Evercel may change its reporting practices at any time, in its discretion and without notice. www.evercel.com

CONTACT:
info@evercel.com

FAQ

What are the qualifications of Greg Falk at Evercel?

Greg Falk has over 25 years of experience in M&A transaction services, including leadership roles at KPMG and BDO. He advised Evercel on its acquisition of Printronix.

What is Ted Zagat's background related to Evercel?

Ted Zagat is an entrepreneur and technology investor, co-founding Rimeto and leading Slack's product organization. He previously transformed Zagat Survey into a digital media business.

What is the significance of the new board appointments at Evercel?

The appointments of Falk and Zagat are expected to bring fresh perspectives and expertise during a critical growth phase, particularly with the acquisition of ZAGG.

When were Greg Falk and Ted Zagat appointed to Evercel’s Board?

Greg Falk and Ted Zagat were appointed to Evercel’s Board of Directors effective March 19, 2021.