WAYNE, Pa.--(BUSINESS WIRE)--Safeguard Scientifics, Inc. (NYSE: SFE), a holding company that builds value in growth-stage life sciences and technology companies, today announced that Philip Moyer has joined the company as Managing Director, Technology Group. A former member of Safeguard Scientifics Technology Advisory Board, Moyer will be responsible for deploying capital in and partnering with technology companies in the financial technology, and Enterprise 3.0 industries.
Moyer brings more than 25 years of experience to Safeguard, having most recently served as the President and CEO at EDGAR Online, Inc. (Nasdaq: EDGR). While there, he led the transformation and recapitalization of the company, reversing losses and producing quarterly operating profits.
“I’m happy to welcome Philip to the Safeguard family as we continue to build out additional expertise within our deal teams,” says Kevin L. Kemmerer, Executive Vice President and Managing Director of the Technology Group at Safeguard. “He has incredible experience, not only in the management aspect of building and growing companies, but also as a serial entrepreneur. I look forward to working with him in helping identify and support our current and future technology partners.”
Prior to his time at EDGAR, Moyer led a management buy-out from Capmark of Cassiopae, a European-based commercial lending software company. Before this, he spent 15 years in various senior level positions at Microsoft, managing multi-hundred million dollar P&Ls. Specific roles at Microsoft included General Manager of the Professional Services Industry, General Manager of Global Customers, and Global Manager Enterprise Services and Partners for the U.S. East Region.
In 1988, Moyer co-founded the Orion Systems Group, a company that developed administrative software for the K-12 education market. Orion Systems was later sold to SunGard. He began his career at GE Aerospace as a software developer.
Since the start of his career, Moyer has served as an Angel Investor in ten companies, ranging from start-ups to $3 million growth companies.
“I believe that we are at the beginning of the most important technological revolution in the past 15 years,” says Moyer. “As such, I’m looking forward to working with the team at Safeguard Scientifics to deploy capital in and partner with strong management teams to build the next generation of great companies. As someone with an entrepreneurial background, I have experienced the challenges that these companies face first hand. I look forward to sharing my experiences with them and helping them sustain and grow businesses that are changing the world of technology.”
Moyer holds a B.S. in Computer Science from the University of Pittsburgh, and currently serves on the board of the Joseph M. Katz Graduate School of Business and College of Business Administration, University of Pittsburgh. In addition, he serves on the Board of XBRL US.
In accordance with New York Stock Exchange rules, Safeguard also stated that it will issue to Mr. Moyer, on June 30, 2011, an inducement award consisting of options to purchase up to 85,000 shares of Safeguard common stock with a per share exercise price equal to the average of the high and low prices of Safeguard common stock on the grant date. Of the shares underlying the options, 21,250 shares will be subject to an option with an eight-year term and will vest 25% on the first anniversary of the grant date, with the remaining 75% vesting in equal monthly installments during the three-year period commencing on the first anniversary of the grant date; and the remaining 63,750 shares will be subject to an option with a 10-year term and will vest based on Safeguard’s capital-return vesting model, which ties vesting to predetermined levels of net cash proceeds returned to Safeguard based on exit transactions consummated by certain Safeguard partner companies (as designated by the Safeguard Board’s compensation committee) during the term of the option. The stock options were approved by the Safeguard Board's compensation committee without shareholder approval as an "employee inducement" award under the NYSE's rules.
About Safeguard Scientifics
Founded in 1953 and based in Wayne, PA, Safeguard Scientifics, Inc. (NYSE: SFE) provides growth capital for entrepreneurial and innovative life sciences and technology companies. Safeguard targets life sciences companies in Molecular and Point-of-Care Diagnostics, Medical Devices, Regenerative Medicine, Specialty Pharmaceuticals and selected healthcare services, and technology companies in Internet / New Media, Financial Services IT, Healthcare IT and selected business services with capital requirements of up to $25 million. Safeguard participates in expansion financings, corporate spin-outs, management buyouts, recapitalizations, industry consolidations and early-stage financings. For more information, please visit our website at www.safeguard.com, our blog at blog.safeguard.com or you can follow us on Twitter at twitter.safeguard.com or on LinkedIn at linked.safeguard.com.
Except for the historical information and discussions contained herein, statements contained in this release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Our forward-looking statements are subject to risks and uncertainties. The risks and uncertainties that could cause actual results to differ materially, include, among others, managing rapidly changing technologies, limited access to capital, competition, the ability to attract and retain qualified employees, the ability to execute our strategy, the uncertainty of the future performance of our companies, acquisitions and dispositions of companies, the inability to manage growth, compliance with government regulations and legal liabilities, additional financing requirements, the effect of economic conditions in the business sectors in which our companies operate, and other uncertainties described in the Company's filings with the Securities and Exchange Commission. Many of these factors are beyond our ability to predict or control. In addition, as a result of these and other factors, our past financial performance should not be relied on as an indication of future performance. The Company does not assume any obligation to update any forward-looking statements or other information contained in this news release.