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Neology Appoints Frank Hettmann as CFO

SAN DIEGO, July 24, 2017 (GLOBE NEWSWIRE) -- Frank Hettmann, an executive with 30 years of experience in Finance, Operations and Administration, has been appointed as Chief Financial Officer of Neology, Inc. Mr. Hettmann is a senior management addition to enhance Neology's growth as part of the completed acquisition of the 3M Tolling Business announced previously.

“Frank is a key addition to the leadership team,” said Francisco Martinez De Velasco, CEO of Neology. “He brings a wealth of financial and operational knowledge leading and building finance and administrative infrastructure. His entrepreneurial background and experience in M&A and integration is particularly valuable to Neology.”

“I am excited to join the talented Neology team during this exciting and critical period of its evolution,” said Mr. Hettmann. “I look forward by contributing to the financial and strategic vision of the company to support the growth ramp of the new Neology.”

Mr. Hettmann previously served as Director of Finance and in various Group and International Controller roles for Microsemi Corporation during the past seven years. Prior to that he held executive roles with small to mid-sized semiconductor and technology companies. Mr. Hettmann holds an MBA from Santa Clara University and received his BA degree in Business Economics from the University of California, Santa Barbara.

About Neology:
A fully-owned subsidiary of SMARTRAC N.V., Neology is a leading provider of integrated solutions for the tolling, electronic vehicle registration (EVR) and public safety markets. The company is a pioneer and leader in the development of passive RFID technology owning some of the earliest and most significant intellectual property (IP) in the industry. SMARTRAC is the leading developer, manufacturer and supplier of RFID products and services suitable for a large number of applications. For more information visit www.neology-rfid.com and www.smartrac-group.com.

About SMARTRAC:
SMARTRAC® is a leading developer, manufacturer, and supplier of RFID and NFC transponders and inlays and owns a vast RFID patent portfolio. The company produces both ready-made and customized transponders and inlays used in access control, animal identification, automated fare collection, border control, RFID-based car immobilizers, contactless payment cards, electronic product identification, industry, libraries and media management, laundry, logistics, mobile and smart media, public transport, retail, and many more.
SMARTRAC was founded in 2000, went public in July 2006, and trades as a stock corporation under Dutch law with its registered headquarters in Amsterdam. The company currently employs approximately 3,600 employees and maintains a global research and development, production, and sales network.

Forward-Looking Statements:
All forward-looking statements contained in this press release are based on assumptions, planning, and forecasts at the time of publication of this press release. Forward-looking statements always involve uncertainties. Business and economic risks and developments, the conduct of competitors, political decisions, and other factors may cause the actual results to be materially different from the assumptions, planning, and forecasts at the time of publication of this press release. Therefore, SMARTRAC N.V. does not assume any responsibility relating to forward-looking statements contained in this press release. Furthermore, SMARTRAC N.V. does not assume any obligation to update the forward-looking statements contained in this press release.

About One Equity Partners:
OEP is a middle-market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an extensive track record generating long-term value for its partners. Since 2001, the firm has completed more than 140 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, and Frankfurt. For more information, please visit www.oneequity.com

Press Release and Media Contact: Eric M. Redman Vice President, Sales & Marketing Neology, Inc. 858-391-0260

Source:Neology, Inc.