Cloud Technology Leader Joins VIQ Solutions to Expand AI Capability, Drive Innovation, Advance Enterprise IT Strategy

Rhea-AI Summary

VIQ Solutions Inc. announces the appointment of Vahram Sukyas as Chief Technology Officer to enhance its technological innovation. With over 20 years of experience, Sukyas will focus on advancing the company’s proprietary AI, improving cybersecurity practices, and executing strategic mergers and acquisitions. This move aims to strengthen VIQ’s competitive position in the market as demand for real-time, accurate documentation increases globally. The company continues to adapt its technology to meet regulatory requirements and enhance service delivery.

Positive

• Appointment of Vahram Sukyas as Chief Technology Officer to enhance technology innovation.
• Sukyas brings extensive experience in engineering and cloud technologies, beneficial for accelerating VIQ's AI and cybersecurity improvements.
• Focus on mergers and acquisitions to unlock technology synergies and strengthen market position.

Negative

• None.

Leading provider of cloud-based transcription workflow automation continues to invest in strengthening its executive team with new CTO appointment

PHOENIX, Ariz.--(BUSINESS WIRE)-- VIQ Solutions Inc. (“VIQ”, “VIQ Solutions” or the “Company”) (TSX and Nasdaq: VQS), a global provider of secure, AI-driven, digital voice and video capture technology and transcription services, today announced Vahram Sukyas joined the executive team as Chief Technology Officer. Mr. Sukyas brings deep technical knowledge and experience – with a background in engineering, scaling digital products and streaming platforms - to accelerate VIQ’s technological innovation.

In his new role Mr. Sukyas is focused on advancing VIQ’s proprietary AI to deliver advanced capabilities, continuous improvement of cybersecurity practices to meet new regulatory compliance requirements and frameworks, and critical execution of accretive M&A transactions unlocking technology synergies.

Mr. Sukyas, a more than 20-year veteran of the technology industry, has a diverse background in cloud technologies and cloud native architectures, cybersecurity, infrastructure, and technology operations. Prior to joining VIQ, Mr. Sukyas was SVP Application & Network Technologies at Warner Bros. had responsibility for a portfolio of applications, global network and infrastructure, cloud engineering and architecture, and employee productivity tools.

"As global markets expand, the need for real-time, highly accurate, multi-language, multipurpose documentation is accelerating. Mr. Sukyas’ leadership, and deep technology experience in streaming and cloud infrastructure is instrumental in delivering best-in-class solutions to our clients around the world," said Susan Sumner, President and Chief Operating Officer, VIQ Solutions. “Mr. Sukyas and his team will accelerate our real-time innovation, using AI and machine learning, creating a global enterprise solving our clients’ unique challenges. His proven track record and technical acumen enhances our overall security and bolsters VIQ’s mission-critical operations.”

“I am excited to lead VIQ’s technology teams and drive transformative innovations across our diverse global client base,” said Mr. Sukyas, CTO, VIQ Solutions. “We will leverage emerging technologies to bring new and forward-thinking innovations improving overall service levels, strengthening our AI, and bolstering our competitive advantage.”

About VIQ Solutions

VIQ Solutions is a global provider of secure, AI-driven, digital voice and video capture technology and transcription services. VIQ offers a seamless, comprehensive solution suite that delivers intelligent automation, enhanced with human review, to drive transformation in the way content is captured, secured, and repurposed into actionable information. The cyber-secure, AI technology and services platform are implemented in the most rigid security environments including criminal justice, legal, insurance, government, corporate finance, media, and transcription service provider markets, enabling them to improve the quality and accessibility of evidence, to easily identify predictive insights and to achieve digital transformation faster and at a lower cost.

Forward-looking Statements

Certain statements included in this news release constitute forward-looking statements or forward-looking information under applicable securities legislation. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Forward-looking statements or information typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking statements or information in this news release include, but are not limited to, Mr. Sukyas’ roles and responsibilities and the potential benefits he will bring to the Company, as well as the Company’s strategy.

Forward-looking statements or information is based on several factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although VIQ believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because VIQ can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified in this news release, assumptions have been made regarding, among other things, the Company’s recent initiatives, and that sales and prospects may provide incremental value for shareholders. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions that have been used.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the “Risk Factors” section of the Company’s base shelf prospectus dated June 10, 2021 and in the Company’s other materials filed with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission from time to time, available at www.sedar.com and www.sec.gov, respectively. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211102005477/en/

Media Contact:

Laura Haggard

Chief Marketing Officer

VIQ Solutions

Email: marketing@viqsolutions.com

Investor Relations Contact:

Laura Kiernan

High Touch Investor Relations

Ph. 1-914-598-7733

Email: viq@htir.net

For more information about VIQ, please visit viqsolutions.com.

Source: VIQ Solutions Inc.

FAQ

Who has been appointed as the new CTO of VIQ Solutions?

Vahram Sukyas has been appointed as the new Chief Technology Officer of VIQ Solutions.

What are Vahram Sukyas' main responsibilities as CTO?

Vahram Sukyas is responsible for advancing VIQ's proprietary AI, improving cybersecurity, and executing strategic mergers and acquisitions.

How does VQ Solutions plan to improve its technology after the new CTO appointment?

VIQ Solutions aims to enhance its technology through AI-driven innovations and improved cybersecurity practices under the leadership of Vahram Sukyas.

What impact does the CTO appointment have on VIQ Solutions' market position?

The appointment is expected to strengthen VIQ's competitive position as demand for advanced documentation solutions increases globally.

What is the ticker symbol for VIQ Solutions?

The ticker symbol for VIQ Solutions is VQS.