IRD Appoints Heimo Haub to Lead Newly Formed IRD Europe GmbH

Rhea-AI Summary

International Road Dynamics Inc. has appointed Heimo Haub as Managing Director for IRD Europe, effective January 10, 2022. This new division will integrate operations from the Belgian subsidiary ICOMS Detections and recent German acquisitions Sensor Line and VDS. Mr. Haub brings over 15 years of experience in the Intelligent Transportation Systems (ITS) sector, and his leadership aims to enhance customer service and drive growth in Europe. The consolidation is seen as a strategic move to strengthen IRD's presence in the European market while improving road safety and sustainability.

Positive

• Appointment of Heimo Haub brings extensive experience in the European ITS industry.
• Consolidation of European operations may improve efficiency and customer service.
• Strategic focus on enhancing transportation safety and environmental sustainability.

Negative

• None.

SASKATOON, SK, Dec. 6, 2021 /PRNewswire/ - International Road Dynamics Inc. ("IRD" or the "Company"), a Quarterhill Inc. ("Quarterhill") company (TSX: QTRH) (OTCQX: QTRHF) announces that it has appointed Heimo Haub as Managing Director for IRD Europe GmbH ("IRD Europe"). Effective January 10, 2022, Mr. Haub will lead the newly formed division and will report to Rish Malhotra, CEO of IRD.

IRD Europe will operationally integrate the Belgian subsidiary ICOMS Detections as well as the recent German acquisitions Sensor Line and VDS under one organization. IRD Europe will directly service the Company's European customers and partners who will continue to benefit from IRD's high-quality products and ITS technologies that improve road safety and enhance environmental sustainability. Additionally, IRD's new and existing European customers will also benefit from receiving customer service locally.

"I am very pleased to welcome Heimo to the IRD team," said Rish Malhotra, CEO of IRD. "He has significant experience in the European ITS industry, including in the area of enforcement, a segment where IRD is a global leader today. Consolidating our European operations under his leadership will drive execution of our strategy, strengthen our presence with customers enabling them to embrace the sustainable route to improving transportation safety, and accelerate both our organic and acquisitive growth opportunities in the region."

Heimo Haub is an experienced ITS executive with a track record of more than 15 years in the industry with a focus on Commercial Vehicle Enforcement and Tolling technologies. Since 2005, Heimo has worked at EFKON, a global ITS and tolling leader based in Austria and with operations worldwide. During his career at EFKON, Heimo held leadership roles that included Head of Product Management, Technical Director and Vice President Sales, Marketing and Business Development. Heimo is well respected in the industry and has been active in Europe, Africa and Asia where his customer-oriented approach helped to expand the business and open-up new markets, such as in the Nordic region. Heimo has an MSc in Electrical Engineering and Information Technology from Technical University Graz.

"This is an exciting time to be in the ITS industry and for me to be joining IRD," said Mr. Haub. "As countries look to upgrade their infrastructure with tech-enabled solutions focused on improving safety, mobility and environmental standards, IRD is well-positioned to capitalize on this opportunity. The company has a well-respected brand, one that stands for quality, reliability and service, and has a strong foundation of operations and customers in Europe from which to grow from. I look forward to making our European journey a success story."

About IRD
IRD is a dynamic technology company engaged in developing key components and advanced systems for the next generation of transportation networks. Together with subsidiaries PAT Traffic, ICOMS Detections, SensorLine and VDS, IRD supplies Intelligent Transportation Systems (ITS) to private corporations, transportation agencies, and highway authorities around the world. IRD's systems make highways safer, greener, and more efficient. Known globally as a trusted partner providing sales, service, and installation support on major ITS projects for over 40 years, IRD contributes to creating smarter cities by empowering engineering and urban planning professionals to access reliable traffic data. For more information: www.irdinc.com

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: www.quarterhill.com     

Forward-Looking Information
This news release contains forward-looking statements regarding IRD, Quarterhill and their businesses. Forward-looking statements are based on estimates and assumptions made by IRD 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 IRD 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 IRD 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 IRD 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. IRD 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 IRD's forward-looking statements. IRD 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 International Road Dynamics

FAQ

What is the significance of Heimo Haub's appointment as Managing Director of IRD Europe?

Heimo Haub's appointment is significant as he brings over 15 years of experience in the Intelligent Transportation Systems industry, which is expected to strengthen IRD's operations and market presence in Europe.

What does the consolidation of IRD's European operations entail?

The consolidation involves integrating operations from ICOMS Detections and recent acquisitions, Sensor Line and VDS, to enhance service delivery to European customers.

When will the new Managing Director of IRD Europe start?

Heimo Haub will officially start as Managing Director of IRD Europe on January 10, 2022.

How will Heimo Haub's leadership impact IRD's growth in Europe?

His leadership is expected to drive execution of the company's strategy, strengthen customer relationships, and accelerate both organic and acquisitive growth opportunities in the region.

What are IRD's goals with the establishment of IRD Europe?

IRD aims to improve customer service, enhance operational efficiency, and capitalize on opportunities to improve road safety and environmental standards in Europe.