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MGT Capital Investments (MGT) Appoints Nolan Bushnell to Board
Article

June 7, 2016 9:10 AM EDT

MGT Capital Investments, Inc. (NYSE: MGT) today announces the appointment of Nolan Bushnell to its Board of Directors. Bushnell will serve as an independent director, effective immediately.

Nolan Bushnell is a technology pioneer who is best known as the founder of the Atari Corporation and Chuck E. Cheese. Bushnell has also founded more than 20 companies during his career, including Catalyst Technologies, the first technology incubator; ByVideo, the first online ordering system; Etak, the first digital navigation system; UWink, the first touchscreen menu ordering and entertainment system; and BrainRush, an educational software company.

Bushnell also served as a director on the boards of Wave Systems Corporation, a developer and distributor of hardware-based digital security products, and of AirPatrol Corporation/Sysorex (NASDAQ: SYRX), which makes indoor positioning systems. He was also on the board of directors at Neoedge Networks, a technology and in-game advertising company that enabled casual game publishers to deliver television-like commercials within their products.

John McAfee, proposed Executive Chairman and Chief Executive Officer of MGT Capital, stated, "Nolan is one of the brightest minds in cyber technology. In his career, he has founded more than 20 high tech companies, giving him unprecedented knowledge of the tech industry. As a director, he will help MGT identify and cultivate the necessary strategic partnerships to position the company as the world leader in cyber security."

"As founder of Atari, one of the first Silicon Valley mega-success stories, Nolan single handedly created the video game industry and continues to shape its future today. It is within this industry that much of the leading edge artificial intelligence techniques are being applied, and I believe artificial intelligence will shape the future of cyber security and provide the impetus for MGT's success," concluded McAfee.

Bushnell commented, "I am excited to join MGT along with John McAfee to build one of the most powerful cyber security companies in the industry and address an increasing number of cyber threats. There is an ever evolving flow of threats through the advancements of electronic devices we use every day with very little user protection. The opportunity is enormous in this market, and the existing companies in the cyber security space are too busy looking backwards in order to protect their existing market share to see what is happening in the market now. We at MGT are going to approach the market from a completely different perspective, by addressing these immediate needs as our priority."

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