Brain Corp Names Dan Halvorson as Executive Vice President and Chief Financial Officer

San Diego, CA, Dec. 06, 2017 (GLOBE NEWSWIRE) — Brain Corp (“Brain”), an A.I. company specializing in the development of self-driving technology for robots, today announced that Dan Halvorson has joined the company’s management team as executive vice president and chief financial officer. Halvorson will lead Brain’s financial activities and will direct Operations in support of Brain’s long-term robotics A.I. platform initiatives.

Halvorson brings over 25 years senior operations and financial leadership experience, developing and advising technology companies from early-stage financing through initial public offering (IPO). Halvorson’s experience rapidly scaling businesses globally through innovation, investment, and mergers & acquisitions, will provide the framework needed to grow Brain’s A.I. platform, BrainOS®, to be widely adopted by the robotics industry, as Android OS has been in the smartphone industry.

Prior to joining Brain, Halvorson held chief financial officer positions at several publicly-held companies including Novatel Wireless, Inc., DivX, Inc., OneRoof Energy, and Ingenu, as well as finance roles at Dura Pharmaceutical and Alliance Pharmaceutical.  At Novatel Wireless Halvorson directed numerous capital transactions including overseeing the company’s IPO process and managing the company’s substantial revenue growth from $33M to $400M over a four year period from 2003 to 2007.   Halvorson joined DivX, a technology platform company, in 2007 and served as its Executive Vice President of Operations and Chief Financial Officer.  At DivX he was instrumental in negotiating several strategic transactions that contributed to the company’s technology innovation, corporate growth and subsequent acquisition in 2010.

“We are truly excited to welcome Dan to Brain,” said Brain Corp’s CEO, Dr. Eugene Izhikevich. “Dan possesses strong business acumen and a long track record of leading both private and public companies. He brings critical operational and finance skills to our executive team and will lend valuable experience as we focus on driving meaningful, long-term value for our stakeholders and capturing an increasing market share in the emerging robotics industry.”

Halvorson also possesses extensive expertise in financial activities, including Sarbanes-Oxley (SOX), public accounting, corporate governance, tax, treasury, risk management and investor relations including an impressive track record interacting with Wall Street investors and analysts.

“This is an important and exciting time to join Brain,” said Halvorson. “With a best-in-class technology and an extremely passionate and talented group of people, Brain is well-positioned to capture an even greater market opportunity. I look forward to working with this technology team, and being an integral part of Brain Corp’s future.”

Brain Operating System (BrainOS®)

BrainOS is the foundation of Brain Corp’s platform technology. It is a proprietary operating system that integrates with off-the-shelf hardware and sensors to provide a cost-effective “brain” for robots. It plays the same role as Android OS for smartphones, but also includes computer vision and A.I. libraries that provide advanced self-driving capabilities for cluttered and dynamic indoor and outdoor environments.

About Brain Corp

Brain Corp. is a San Diego-based A.I. company that partners with manufacturers of commercial equipment and consumer electronics, to convert their manually-operated products into autonomous robots. Brain Corp’s technology represents the next generation of artificial brains for robots. Brain Corporation is funded by the SoftBank Vision Fund and Qualcomm Ventures. For more information or to access videos of its robots, please visit www.braincorp.com.

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/06f2cd84-22da-49e5-90a9-88d4a94b2473

CONTACT: Edgar Rodriguez
Brain Corp
951-256-7301
rodriguez@braincorporation.com

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