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Dave Edstrom Resigns as the CTO of MEMEX to Pursue Personal Interests

/ -- COO of U.S.A. Operations to Serve as Interim CTO

BURLINGTON, ON--(Marketwired - Oct 12, 2016) - Memex Inc. ("MEMEX" or the "Company") (TSX VENTURE: OEE) announces that Dave Edstrom has resigned as the CTO of MEMEX effective Monday, October 10th 2016. Dave Edstrom started with MEMEX in January 2014 and will continue in a transition role over the next 30 days. Rick Mosca, the current COO of MEMEX U.S.A. operations, has stepped in to serve as interim CTO of MEMEX.

Rick Mosca has over 30 years of software engineering experience. He started as a developer and has successfully held several technical leadership positions. Additionally, he has run software engineering divisions at Fortune 500 companies and held the position of a principal at a custom software engineering consulting firm.

Over Mr. Edstrom's tenure as MEMEX's CTO, he has played a fundamental role in MEMEX's technology development initiative. His legacy at MEMEX includes: MERLIN Tempus; MERLIN Tempus Enterprise Edition, the next generation of Industrial Internet of Things (IIoT) communication platform; MERLIN OPTIME, a free gateway to Real-Time manufacturing analytics; along with MERLIN MTC-One, a new breed of IIoT hardware.

In his statement, Dave Edstrom said, "I came to MEMEX almost three years ago, as the CTO to run the Software and Hardware Development division, be an evangelist, and help MEMEX grow. I am extremely proud of what has been accomplished in that time period. At IMTS 2016 we introduced new industry leading products MERLIN Tempus, MERLIN Tempus Enterprise Edition, the MTC-One, Financial Overall Equipment Effectiveness, and MERLIN DNC. I believe these products will pay dividends for many, many years to come. With this strong array of new products, MEMEX will continue to extend its lead as the market innovator and the market leader in measuring manufacturing excellence. I want to be clear, while I am resigning from MEMEX as the CTO, I am not going to another company, and certainly not a competitor. I am quite lucky in that I can take an extended time off to travel, to see friends, relatives, and just kick back. I was very fortunate to have worked with the best development team in the industry at MEMEX and could not be more proud of their smart, creative, and hard work. I wish everyone at MEMEX the absolute best!"

"Dave Edstrom came here from the MTConnect Institute as President and Chairman of the Board, and author of 'MTConnect: To Measure Is To Know' as MEMEX's first CTO," said CEO and President David McPhail. "Dave Edstrom made it clear from the beginning that he wanted to 'put a dent in the manufacturing universe.' Under his leadership, I believe we have done that with all of our new products. Dave was a prolific writer, speaker, and thought leader for MEMEX. Dave was selected as one of 30 visionaries around the globe by Smart Manufacturing Magazine, and he certainly has been a visionary for us. We wish him the best as he takes an extended break from the work life."

About MEMEX:
MEMEX, the developer of MERLIN, an award winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time, is the global leader in machine to machine connectivity solutions. Committed to its mission of "Successfully transforming factories of today into factories of the future" and encouraged by the accelerating adoption and success of MERLIN, MEMEX is relentlessly pursuing the development of increasingly innovative solutions suitable in the IIoT era. MEMEX envisions converting every machine into a node on the corporate networks, thereby, creating visibility from shop-floor-to-top-floor. MEMEX, with its deep commitment towards machine connectivity, offers solutions that are focused on finding hidden capacity by measuring and managing Real-Time data. This empowers MEMEX's customers to effectively quantify and manage OEE, reduce costs and incorporate strategies for continuous lean improvement. For further information, visit

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