Intrinsyc Appoints Technology Veteran to Chief Technology Officer and VP of Manufacturing

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 21, 2014) - Intrinsyc Technologies Corporation (TSX:ITC), (Intrinsyc), a leading provider of technology solutions for the development of intelligent connected devices, today announced the appointment of Chris Ross to the role of Chief Technology Officer and Vice President of Manufacturing. In this role, Mr. Ross will be responsible for the transformation of capital into technology; enabling new business lines and business models, and increasing revenues. Mr. Ross will also be responsible for logistics and manufacturing and the implementation of systems to streamline supply chain planning processes, reduce costs, and improve customer satisfaction.

"Chris has a stellar record of providing operational and technology leadership through periods of rapid revenue growth with leading global technology companies," said Tracy Rees, President and CEO of Intrinsyc. "Intrinsyc is transforming its business with its powerful Open-Q™ embedded computing solutions and I look forward to working with Chris to increase our computing and connectivity products to accelerate our growth."

Based in Vancouver, B.C., Mr. Ross will report to Tracy Rees, President and CEO.

"Intrinsyc has a long history of engineering excellence, helping build successful products for many mobile and embedded device companies," said Mr. Ross. "I am very pleased to have the opportunity to use my experience to expand Intrinsyc's technology solutions to create even greater value for Intrinsyc's customers, and propel the company to higher revenue."

Chris Ross Background

Most recently Mr. Ross was Executive Vice President of Global Operations at Avigilon Corporation and was responsible for implementation and management of enterprise business systems and corporate capital assets. Chris was a key contributor to the company's revenue growth from $100M in 2013 to a projected $224M annual run rate by the end of 2014. Previously he was a senior vice president at Novatel Wireless, where he managed worldwide operations spanning 12 sites and supplying millions of devices for tier-one carriers and retailers worldwide. He established a lean, high-performing team that enabled annual revenue growth from approximately $100 million to over $400 million. Previous to this role, Mr. Ross was the Vice President of Operations for Ericsson Wireless Communications. Joining through the acquisition of Qualcomm's wireless infrastructure business, he was responsible for Ericsson's global CDMA systems business spanning 16 locations worldwide with a workforce of over 2,500 employees. Key accomplishments at Ericsson included a 65 percent reduction in operating expenses over a two-year period. While at Qualcomm he directed "large systems" manufacturing operations, with a workforce of over 500 personnel. During five years of dramatic sales growth; operations ramped in excess of a $1B+ annual run rate.

About Intrinsyc Technologies Corporation.

Intrinsyc Technologies Corporation (www.intrinsyc.com) is a product development company that provides hardware, software, and service solutions that enable intelligent connected devices. Solutions span the development life cycle from concept to production and help device makers and technology suppliers create compelling differentiated products with faster time-to-market. Intrinsyc is publicly traded (TSX:ITC) and is headquartered in Vancouver, BC, Canada.