- Company announces the formation of a Technical Advisory
Committee with two initial members, Bobby
Parikh and Vineet
Khosla
- Vineet Khosla to join the
Technical Advisory Committee instead of the Board of
Directors
TORONTO, Oct. 4, 2024 /CNW/ - Quarterhill Inc.
("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF),
announces the formation of a Technical Advisory Committee and the
addition of two external advisors to this committee.
Quarterhill is pleased to welcome Bobby
Parikh as a Special Advisor to the CEO and as a member of
the Technical Advisory Committee. Bobby is an engineering executive
and product and business advisor with a long track record in the
areas of technology and transportation. His experience spans roles
at Uber, Google, and deCarta, where he developed some of the most
popular mapping platforms and applications in use today.
"We are thrilled to welcome Bobby to the Quarterhill team," said
Chuck Myers, CEO at Quarterhill.
"His track record highlights his strengths in execution, scalable
product development, and team management. Bobby's insights into
business strategy and innovation will be invaluable as we build out
our artificial intelligences capabilities and advance our tolling
and enforcement solutions."
In addition, Vineet Khosla, who
the Company previously announced was joining its Board of
Directors, will instead join the Technical Advisory Committee in a
non-fiduciary role.
"We are pleased that Vineet will continue to lend his valuable
technology expertise in this new role," added Mr. Myers. "Vineet
has built an extensive track record as an innovator and executive
in artificial intelligence and machine learning, including
transportation-related applications, and we look forward to
benefiting from his expertise as he continues to drive advancements
in these fields."
Quarterhill's Technical Advisory Committee will be comprised of
experts dedicated to guiding the Company's technology roadmap,
shaping its system architecture and positioning it to capitalize on
emerging artificial intelligence and machine learning
applications.
About Quarterhill
Quarterhill is a leading provider of
tolling and enforcement solutions in the Intelligent Transportation
System (ITS) industry. Our goal is technology-driven global
leadership in ITS, via organic growth of our tolling and
enforcement businesses, and by continuing an acquisition-oriented
investment strategy that capitalizes on attractive growth
opportunities within ITS and its adjacent markets. Quarterhill is
listed on the TSX under the symbol QTRH and on the OTCQX Best
Market under the symbol QTRHF. For more information:
www.quarterhill.com.
Forward-looking Information
This news release contains
forward-looking information and forward-looking statements within
the meaning of applicable Canadian securities laws (collectively,
"forward-looking statements"). Such forward-looking statements
relate to future events, conditions or future financial performance
of Quarterhill based on future economic conditions and courses of
action. All statements other than statements of historical fact
may be forward-looking statements. Such forward-looking statements
are often, but not always, identified by the use of any words such
as "seek", "anticipate", "budget", "plan", "goal", "expect" and
similar expressions.
Forward-looking statements involve known and unknown risks,
assumptions, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in
such forward-looking statements. Material risk factors that could
cause actual results to differ materially from the forward-looking
statements contained in this news release include, among others,
demand for Quarterhill's products and services; general economic
and market conditions; competition; risks relating to technological
advances and cyber-security; and other risks set forth in the
Company's most recent annual information form available on SEDAR+
at www.sedarplus.ca. The Company believes the expectations
reflected in the forward-looking statements are reasonable, but no
assurance can be given that these expectations will prove to be
correct and such forward-looking statements included in this news
release should not be unduly relied upon. Material factors and
assumptions used to develop the forward-looking statements
contained in this news release include, among others: Quarterhill's
ability to execute on its business plan; demand for Quarterhill's
products and services; operating assumptions; and financial
projections and cost estimates. Quarterhill has no intention, and
undertakes no obligation, to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
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SOURCE Quarterhill Inc.