NexTech AR Solutions Corp. (NTAR:CSE; NEXCF:OTCQB) announced in a news release it appointed Ori Inbar to its advisory board.
Inbar is an augmented reality (AR) industry expert with more than a decade of experience as an entrepreneur and venture capital investor.
In 2009, he cofounded and served as CEO of Ogmento, later Flyby Media, which developed AR games and technology. He then joined the start-up TopTier Software as an early employee, and led the development and market introduction of numerous multimedia and business applications. After SAP SE (SAP:NYSE) acquired TopTier, Inbar became its senior vice president of solution marketing. In that role, he positioned and marketed SAP NetWeaver, taking it from an idea to a billion-dollar enterprise. In 2012, Inbar founded AugmentedReality.org, a nonprofit organization dedicated to advancing AR for the betterment of humanity.
"With his long-term perspective and extensive industry relationships, Inbar is uniquely positioned to help guide NexTech on its growth trajectory and identify acquisition opportunities," the release noted.
"We are excited to appoint Ori to NexTech’s Advisory Board, and to utilize his unparalleled experience within the AR industry to fuel-future growth of our company. With the AR industry growing at a very rapid rate – and NexTech keeping pace – having a resource like Ori is invaluable," said Evan Gappelberg, CEO of NexTech. "As NexTech continues to identify growth opportunities – both organically and through acquisition – Ori's experience both as an AR technology founder and an investor will be crucial to reaching our long term vision. We welcome him to the team and are looking forward to his leadership."
To compensate Inbar for his advisory services, NexTech issued him 100,000 stock options that will vest over three years at an exercise price of CA$0.78.
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