Neology, Inc. Appoints Mahesh Shah as Its Chairman

SAN DIEGO, Oct. 10, 2017 (GLOBE NEWSWIRE) -- Neology, Inc., a leading provider of integrated end-to-end solutions for the tolling, electronic vehicle registration (EVR) and public safety markets, today announced its board has appointed Mahesh Shah as chairman of the board effective August 1, 2017. Mahesh was most recently Chief Executive Officer and Chairman of Figtree Financing and brings more than 20 years of business leadership to Neology at an ideal time in its evolution.

“Mahesh’s long history of entrepreneurship and leadership with diverse fast-growing companies will be critical to Neology’s growth. I look forward to working closely with Mahesh to advance Neology in becoming the leading provider of advanced Tolling, ITS and ALPR solutions in the world,” said Joerg Zirener, Managing Director of One Equity Partners. The private equity firm completed the acquisition of Neology in September 2017.

As CEO of Figtree Financing, Mahesh led the company to become a national leader in the innovative energy financing marketplace and subsequently completed its merger with Dividend Solar. Previously, Mahesh led the corporate development at Pipeline Software and played a pivotal role in transforming the company to a leader in the advanced enterprise asset management systems market. Mahesh brings the ideal combination of vision, operating discipline, growth mindset and leadership experience to Neology. 

“I feel privileged to take on this role at such an exciting time for Neology. With the recent acquisition of 3M’s industry leading Tolling and License Plate Recognition business, Neology is well positioned to provide best-of-class total solutions in the growing market for Advanced Tolling, Intelligent Traffic Systems and Automated License Plate Recognition Systems in the world,” said Mahesh Shah.

Francisco Martinez de Velasco, President and CEO of Neology, commented: “I am delighted to welcome Mahesh Shah to the Neology Board. Mahesh brings broad leadership experience and his depth of knowledge and insight from his long career will bring an added perspective to the work of the Board.”

About Neology: Neology is a leading provider of integrated end-to-end 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. For more information, visit www.neology.net

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, Neology does not assume any responsibility relating to forward-looking statements contained in this press release. Furthermore, Neology does not assume any obligation to update the forward-looking statements contained in this press release.

Eric M. Redman Vice President, Sales & Marketing Neology, Inc. 858-391-0260