Acorn Factor, Inc. (OTCBB:ACFN) today announced that its equity affiliate Paketeria GmbH has named venture capitalist Alexander Ruckdäschel to its Board of Directors. Ruckdäschel is managing partner of New York-based Alpha Plus Advisors LLC, with a successful track record investing in early stage private and public companies both in the U.S. and Europe.
From 2002 to 2006 Ruckdäschel was a Fund Advisor at DAC-FONDS, a European Investment company specializing in small-cap equities worldwide. From 2003 to 2006, Ruckdäschel also served as an investment advisor to Nanostart AG. Founded in 2003, Nanostart AG quickly became one of Europe's leading venture investment firms in the area of nanotechnology. He also serves on the Boards of Directors for several private companies.
Prior to 2003, Ruckdäschel was a research analyst with Dunmore Management, a global hedge fund, and Thieme Associates, an investment advisor. From 1992 to 2000, Ruckdäschel served in the German military, participating in United Nations missions in Somalia, Croatia and Bosnia.
"We are extremely proud to have Alex join our Board," said Andy Rösch, Paketeria CEO. "We are honored to have him aboard and I'm confident his presence will help take us to yet another level in our growth and expansion strategy."
Rösch also noted, "We were pleased to learn that Paketeria was selected by one of Germany's leading business magazines, 'Impulse,' as the number two most profitable new German franchise. We believe that our unique business model is providing a timely and much-needed service to help fill the void created by the privatization of the German postal service."
John A. Moore, Chairman, President and Chief Executive Officer of Acorn Factor, said, "Just as it was a reach for investors to understand the importance of Comverge's business prior to its successful IPO, it is hard for most American investors to understand the scope of the Paketeria opportunity in Germany. The entrenched monopoly has announced its intentions to dramatically shrink its retail presence. The recognition by 'Impulse' magazine underscores that Paketeria has developed a scaleable business model that can fill the void that has left thousands of small towns and villages without post offices. Now is the time to add resources and accelerate the growth of Paketeria. I believe that Alex will help attract value-added investors and help us turn Paketeria into a successful independent company, as we did at Comverge," concluded Moore.
About Paketeria:
Paketeria GmbH, innovator of the German Super Service Market, is a full-service franchise chain that combines seven services (post and parcels, e-bay dropshop, mobile telephones, copies, printing, photo processing and printer cartridge refilling) in one store. Paketeria GmbH is headquartered in Berlin, the capital of Germany.
About Acorn Factor:
Acorn Factor, Inc. is a holding company which currently owns 2,786,021 shares of common stock of Comverge, Inc. (Nasdaq:COMV) - a leading provider of clean energy solutions that enhance grid reliability and enable electric utilities to increase available electric capacity. Acorn Factor also owns an equity interest in Paketeria GmbH and a controlling position in dsIT. Additional information about Acorn Factor and its subsidiary and equity affiliates is available at www.acornfactor.com, www.dsit.co.il, www.comverge.com and www.paketeria.de.
