Neology Appoints Patricio Iturraspe as Latin American Sales Director

SAN DIEGO, Aug. 29, 2017 -- Tolling and AVI industry veteran Patricio Iturraspe has joined the Neology team as Sales Director for Latin America.  Iturraspe is known as a specialist on ALPR cameras, video analytics, weigh in motion and vehicle classification integrated systems.  He is experienced in all areas of vehicle identification including national electronic tolling systems and traffic management across the major countries of Latin America.

“The addition of Patricio to our team is a key move to strengthen our commercial staff and ensure experienced professionals are available to service our customers,” said Francisco Martinez De Velasco, CEO of Neology. “He also brings a strong local presence to our important Latin American customers and will ensure rapid response and support to customer needs.”

Prior to joining Neology, Mr. Iturraspe served as a Sales Director for 3M as well as FSTech, a tolling and intelligent transportation unit of Federal Signal.  He also served for several years in an international sales management role for SIRIT, a provider of RFID readers for tolling, traffic management and access control.

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