Richardson, TX, Dec. 19, 2022 (GLOBE NEWSWIRE) -- The leadership of Electronic Transaction Consultants, LLC (ETC), a Quarterhill Inc. company (TSX: QTRH) (OTCQX: QTRHF), is pleased to announce Shannon Swank as Executive Vice President of Strategic Initiatives. Ms. Swank joins the team as an integral part of ETC’s growth plan that is focused on strong leadership within the management team and across all leadership roles. Ms. Swank will provide strategic leadership; advising and structuring connections of opportunities across functional areas and regions of the business. Ms. Swank will identify opportunities, strategies, and develop priority projects to meet long term goals for growth and profit including providing analysis of additional innovative markets for expansion.
“ETC has made numerous foundational improvements to modernize our infrastructure and drive efficiencies that better serve our customers,” said CEO, Kevin Holbert. “The addition of Shannon to our team shows our confidence in her to lead ETC through its next phase of transformation. Shannon’s experience across key verticals and focus on execution make her the ideal person to spearhead our strategic initiatives.”
Ms. Swank has more than 25 years of experience in marketing, business development, public relations, and sales. Prior to ETC, Ms. Swank was the Co-Founder and Chief Marketing Officer of PlusPass, a fintech company focused on providing Pay In Motion™ (PIM™), in-vehicle payment solutions. She is currently a co-chair of the Road User Charging (RUC) work group under the International Bridge Tunnel and Turnpike Association (IBTTA) Emerging Technologies Committee, a member of the Women In Tolling Council, on the Diversity Council, and the Lost Revenue Task Force.
“I am thrilled at the opportunity to join the ETC team and support the acceleration of its innovative and transformative solutions,” said Ms. Swank. “Building on ETC's existing state-of-the-art technologies, expanding into complimentary markets is an obvious next step and an essential building block to continue to support our existing agency partners and prepare for future partners.”
About Electronic Transaction Consultants, LLC
ETC is a leading U.S. intelligent transportation systems provider, developing and delivering best in class solutions for tolling, congestion management, smart mobility, and multimodal transportation initiatives. ETC’s passionate and innovative team has been driving the future of mobility since 1999, with a number of 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 U.S.’s largest toll authorities, including state-wide 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 leading provider of tolling and enforcement solutions 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 global leadership in ITS, via organic growth of the Electronic Transaction Consultants, LLC (ETC) and International Road Dynamics, Inc. (IRD) platforms, 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, 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 20, 2022 annual information form for the year ended December 31, 2021 (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.
