FALCONSTOR ANNOUNCES ADDITION TO ITS BOARD OF DIRECTORS
MELVILLE, N.Y., October 29, 2014 — FalconStor Software , Inc. (NASDAQ: FALC), announced today that Michael P. Kelly has been elected to the FalconStor Board of Directors, bringing the total number of board members to eight. Currently, Mr. Kelly is also the CEO of Kinsale Associates and Chairman of the Board at Adept Technology, Inc.
“I am extremely pleased with the addition of Mr. Kelly to our board. His experience with the capital and technical markets and his insight into both the public and private sectors will be very valuable as FalconStor continues its journey to return to profitability,” said FalconStor CEO, Gary Quinn. “Mike’s stewardship and leadership will help us continue to strengthen the critical practices and disciplines we have worked hard to put in place over the past 18 months. We are excited about the future and growth of FalconStor, and Mike will play a key role in helping guide us as a company,” added Quinn.
About Michael P. Kelly
Michael P. Kelly has served as a director at Adept Technology, Inc. since April 1997 and as Chairman of the Board of Adept since November 2008. Mr. Kelly has also served as Chief Executive Officer of merchant bank, Kinsale Associates, Inc., since October 2005. From July 2005 to October 2005, he was the Chief Executive Officer of Cape Semiconductor Inc., a fabless semiconductor company. From 1994 to 2005, Mr. Kelly held the positions of Vice-Chairman and Senior Managing Director of Broadview International, LLC, an international merger and acquisitions advisory firm and a division of Jefferies Inc. Additionally, he has served as a director of Epicor Software Corporation (EPIC), a provider of enterprise business software solutions, since September 2005. Mr. Kelly received a B.A. in Accounting from Western Illinois University, a M.B.A. from St. Louis University, and is also a Certified Public Accountant.
About FalconStor Software
FalconStor Software, Inc. (NASDAQ: FALC) is transforming how enterprises move, store, protect and optimize data. Founded in 2000, FalconStor offers an award-winning platform for data migration, business continuity, disaster recovery, optimized backup and deduplication. FalconStor helps maximize data availability and system uptime to ensure nonstop business productivity, while simplifying data management to reduce operational costs. Our open, integrated software solutions reduce vendor lock-in and give enterprises the freedom to choose the applications and hardware components that make the best sense for their business. FalconStor solutions are available and supported by OEMs, as well as leading system integrators and resellers worldwide. FalconStor is headquartered in Melville, N.Y. with offices throughout Europe and the Asia Pacific region. For more information, visit www.falconstor.com or call 1-866-NOW-FALC (866-669-3252).
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