Root9B Technologies Announces Strategic Shift to Pure Cybersecurity; Names Eric Hipkins to the Board
August 27, 2016 at 02:15 am IST
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The Board of root9B Technologies has approved a series of actions that will shift the organization to a "pure play" cybersecurity company and will seek shareholder approval for a reverse stock split.
Mr. Grano further commented that the Board of Directors has agreed to a reconfiguration of the Board in order to commensurately align the Board with a transition to a pure cybersecurity company. In that regard, Eric Hipkins, Chief Executive Officer of the root9B subsidiary, has been named to the Board of the parent company. The Board also approved an evaluation for the divestiture of non-cybersecurity assets, primarily its IPSA International division, and any remaining components of its energy practice. Mr. Grano has agreed to lead the transition until his contract expires on May 14, 2017. In the interim Mr. Grano and the Board will execute a succession plan.
root9B Holdings, Inc., formerly root9B Technologies, Inc., is engaged in providing cybersecurity, business advisory services principally in regulatory risk mitigation, and energy and controls solutions. The Company helps clients in various industries to provide cyber operations and solutions, mitigate risk, comply with regulations, and leverage and integrate technology. It operates through three segments: Cyber Solutions, IPSA International, Inc. (IPSA)/Business Advisory Solutions, and Energy and Controls Solutions. The Cyber Solutions segment provides cyber security and technology training capabilities, operational support and consulting services. The IPSA/Business Advisory Solutions segment delivers solutions in both regulatory compliance and risk mitigation. The Energy and Controls Solutions segment works with its customers to assess, design and install processes and automation. Its services include cyber operations assessments, forensics, exploitation and defense planning.
ROOT9B HOLDINGS, INC. 
