Former MT Connect head joins Memex Automation
- January 31, 2014
Edstrom has purchased an equity interest in the company and has joined the business as Chief Technology Officer. He has decades of experience in software and has held numerous technology and leadership roles for a range of companies. Prior to his new role, he served for three and a half years as the president and chairman of the board of the MT Connect Institute.
Edstrom has purchased 1, 114,500 units at a price of $0.14 each. Each unit is comprised of one common share in the capital of the Company (a "Common Share") and one warrant (a "Warrant"). Each Warrant entitles Edstrom to purchase one Common Share at a price of $0.145 per share at any time prior to 4:00 p.m. (Ontario time) on January 30, 2016. The securities are subject to a hold period, which will expire on May 31, 2014. The closing is subject to receipt of final approval from the TSX Venture Exchange.
I have had the privilege of working with Memex Automation on a variety of efforts when I was the president and chairman of the MTConnect Institute," says Edstrom. "I am absolutely convinced that this company is positioned to become the global leader in its vertical, helping manufacturers maximize utilization and gain productivity. I am thrilled to be joining the Memex Automation team as the Chief Technology Officer in an ownership position to drive technology, create new opportunities, and help it become a global power in manufacturing solutions."
Memex Automation's Merlin translates all protocols such as Fanuc Focas, OPC and MTConnect, an XML-based, open source, royalty free protocol into information that management, engineering and maintenance teams can use for a variety of functions to improve manufacturing efficiencies.