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Datawatch reaches agreement with Potrero Capital and appoints Charles M Gillman to Board of Directors

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Datawatch Corporation has reached an agreement with Potrero Capital Research whereby Charles Gillman, Executive Managing Director of the IDWR Multi-Family Office has been appointed to the Datawatch Board of Directors, effective immediately.  

Gillman will fill a vacancy created by the resignation of Dr Terry Potter who will step down due to other commitments. Gillman will join the Corporate Governance and Nominating Committee and the Compensation and Stock Committee. 

Richard de J Osborne, Chairman of the Datawatch Board of Directors, says: “Datawatch believes the addition of Mr Gillman will bring a fresh perspective and valuable experience to the board. On behalf of my fellow directors, I also want to thank Terry Potter for his more than eighteen years of distinguished service to Datawatch.”

Jack Ripsteen, Managing Member of Potrero Capital, says: “We are pleased to have played a constructive role in helping refresh the Datawatch board. We are confident that the addition of Mr Gillman to the company’s board will allow Datawatch to effectively capitalise on available opportunities to drive significant shareholder value.”

Gillman says: “I am excited to join the board of directors of Datawatch. I look forward to working constructively with the board and management team in creating value for Datawatch shareholders.”

Pursuant to the agreement, Potrero Capital has agreed to customary standstill provisions. The complete agreement between Datawatch and Potrero Capital will be included as an exhibit to a Current Report on Form 8-K filed with the Securities and Exchange Commission.

Datawatch retained Cadwalader, Wickersham & Taft LLP as legal adviser in connection with the agreement.  Olshan Frome Wolosky LLP served as legal adviser to Potrero Capital.

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