RESTON, Va., May 17, 2016 /PRNewswire/ -- PrecyseTech Corporation announced today an expanded senior executive management team to support the company's ambitious growth plans. The company secured new financing, established global HQ in Reston, VA, and will be launching new cloud-based IOT and analytics management solutions building upon the company's proven proprietary asset tracking and location management solutions.
Paul B. Silverman, is appointed President and CEO of PrecyseTech, and will assume responsibility for managing PrecyseTech's global business including Israeli R&D operations. Mr. Silverman played a key role in developing the company's global expansion strategy, securing the new financing, and will also serve as a member of the Board of Directors.
"PrecyseTech has created a powerful, proven, proprietary asset tracking and management technology," said Paul B. Silverman, PrecyseTech President and CEO. The technology offers seamless tracking from outdoor to indoor "harsh" environments; proprietary seamless handoff between indoor (active RFID) and outdoor (GPS) systems; unique, low cost, high accuracy proprietary beacon technology, rapid deployment. Most significantly, PrecyseTech offers two-way communications between headquarters and remote agents that can take action, turn off, or adjust globally dispersed critical assets. These benefits provide a competitive edge." Silverman continued, "Coupling this value with our upcoming cloud-based IIOT and analytics management solutions gives users positive ROI benefits. That's what we will be offering in coming months."
Financing was secured from the Spencer Trask Communications and Media Group ("STCMG"). Paul J. Latchford, President of STCMG, will also serve as Executive Chairman of the PrecyseTech Board of Directors.
"Spencer Trask sees considerable opportunity in the global asset tracking, IOT analytics markets. We are here to support PrecyseTech's business growth strategy," said Latchford. "Paul Silverman is a seasoned management executive who has forged our new strategy. He brings extensive experience to PrecyeTech's ambitious growth objectives."
With over four decades of senior corporate management, global management consulting, entrepreneurial management experience, a successful track record managing both private and public companies, and author of several entrepreneurial management books, Paul Silverman has strong leadership and management capabilities in a wide range of areas, including new venture development, capital formulation strategies, financing, global business development, mergers and acquisitions, and strategic alliances.
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