RICHARDSON, Texas, Dec. 20, 2021 /PRNewswire/ - Electronic Transaction Consultants Corporation ("ETC"), a Quarterhill Inc. company (TSX: QTRH) (OTCQX: QTRHF), announces that it has named Kevin Holbert as the company's Chief Executive Officer ("CEO"). This announcement follows Quarterhill's December 15, 2021, appointment of Bret Kidd, ETC's former CEO, to the CEO role at Quarterhill.
Kevin, who joined ETC in 2002, is an accomplished leader with over 30 years of experience in the Intelligent Transportations Systems ("ITS") and mobility industries, and a veteran of ETC where he has held progressively senior roles during his tenure. Most recently, he was ETC's Chief Commercial Officer, during which time the company has experienced tremendous growth with significant industry wins and the recruitment of key industry professionals. Prior to that, Kevin was Executive Vice President, Business Development where he helped develop and execute ETC's business development and strategic marketing plans. His track record at ETC also includes leading multiple large-scale projects, establishing and leading the company's Project Management Office and overseeing day to day client operations. At other times in his career, he has held diverse roles that included director of information systems at a prominent tolling authority, consultant, and executive at a full systems integration provider.
"I am very pleased to appoint Kevin to CEO at ETC," said Bret Kidd, CEO at Quarterhill. "As an executive leader at ETC for nearly two decades, Kevin has been instrumental in steering the company through numerous corporate transformations, deliveries and technology roadmaps. His history with the company, his stellar reputation in the industry and his diverse background, spanning both engineering and delivery, gives him a unique and seasoned perspective as a business leader in ITS and makes him the right person to lead ETC today and into its exciting future."
About Electronic Transaction Consultants, LLC
ETC is a leading U.S. intelligent transportation systems and smart mobility provider, developing and delivering best-in-class solutions for tolling, congestion management, urban mobility, and multimodal transportation needs. ETC's passionate and innovative team has been driving the future of mobility since 1999, with many industry firsts, including all-electronic tolling (AET), dynamic pricing, agency interoperability, hosted mobility solutions and machine learning.
For over two decades, ETC has delivered sophisticated solutions to many of the largest toll authorities in the U.S., including statewide programs, county networks and tolling-specific authorities. ETC's solutions process over two billion transactions annually, totaling over $3 billion in revenues for our customers, incorporating the latest in evergreen open-source and SaaS technologies and Big Data architecture through our innovative riteSuite™ products.
About Quarterhill
Quarterhill is a growth-oriented company in the Intelligent Transportation System (ITS) industry as well as, through its Wi-LAN Inc. subsidiary, a leader in Intellectual Property licensing. Our goal is to execute an investment strategy that capitalizes on attractive growth opportunities within ITS - and its adjacent markets - to become a global leader in that industry. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information, visit www.quarterhill.com.
Forward-Looking Information
This news release contains forward-looking statements regarding ETC, Quarterhill and their businesses. Forward-looking statements are based on estimates and assumptions made by ETC and/or Quarterhill in light of their experience and perception of historical trends, current conditions, expected future developments and the expected effects of new business strategies, as well as other factors that ETC and/or Quarterhill believe are appropriate in the circumstances. The forward-looking events and circumstances discussed herein may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting ETC and/or Quarterhill, including: potential risks and uncertainties relating to the ultimate geographic spread of the novel coronavirus ("COVID-19"); the severity of the disease; the duration of the COVID-19 outbreak; actions that may be taken by governmental authorities to contain the COVID-19 outbreak or to treat its impact; the potential negative impacts of COVID-19 on the global economy and financial markets and any resulting impact on ETC and/or Quarterhill and/or their businesses. Other factors include, without limitation, the risks described in Quarterhill's March 11, 2021 annual information form for the year ended December 31, 2020 (the "AIF"). Copies of the AIF may be obtained at www.sedar.com. ETC and Quarterhill recommend that readers review and consider all of these risk factors and notes that readers should not place undue reliance on any of ETC's forward-looking statements. ETC 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.
