NexTech AR taps Microsoft veteran Hareesh Achi to head its advertising network; shares debut on NEO exchange

NexTech AR Solutions Corp (OTCQB:NEXCF) (NEO:NTAR) (FRA:N29) has hired former Microsoft Online Inc President Hareesh Achi to be president of its advertising network, the company announced Tuesday.  Achi was the global operational lead for Microsoft's advertising business operations, heading up Microsoft's Search Ads & News business, and was president of Microsoft Online.  At NexTech, Achi will work to enhance the company’s 3D/AR advertising technologies while aggressively expanding the 3D/AR ad network into the virtual events industry, the company said. Achi and his team will build AR-powered advertising solutions that enhance the online shopping experience for brands and provide crucial data points for future marketing initiatives.  READ: NexTech AR Solutions increases its Bitcoin holdings to US$4M and up-lists its stock to NEO “I firmly believe that AR and VR are the future of advertising and NexTech’s existing technology portfolio positions the company to become a leader in this space,” Achi said in a statement. “I’m excited to join the team and build a powerful, in-house advertising network at a time when more brands are turning to storeless experiences and looking for unique ways to reach customers in the digital sphere. AR-powered platforms like NexTech’s offer tremendous potential and value that two-dimensional advertising content cannot compete with.”  Achi will also develop and maintain brand partnerships and communicate the value of 3D/AR ad solutions in the current landscape, presenting NexTech as a preferred partner for brands and sponsors navigating the shifting landscape of digital advertising, the company said. “I’m excited to help with the creation and development of NexTech’s ground-breaking in-house ad network and look forward to bringing the growing industries of advertising and AR/VR together to create what I envision as the next generation of online experiences,” Achi said. With this move, the company said, NexTech is continuing to position experienced technology industry leaders within the company to quickly expand and monetize its growing portfolio of digital transformation technologies. “We are delighted to have Hareesh join as president of our advertising network, since he brings instant credibility, deep industry contacts and business know-how that is simply unmatched in the ad space. As our company continues its rapid global expansion, having a 10-year Microsoft advertising veteran lead what I believe can become our most valuable business segment was critical,” CEO Evan Gappelberg said. “Bringing on such a qualified and distinguished leader in the advertising community solidifies our position overnight as a leader in the 3D/AR advertising space.”  Achi is the latest in a string of high-profile executive hires made by NexTech over the past six months, the company said, following additions of talent from SAP SE (NYSE:SAP) (FRA:SAP), Apple Inc (NASDAQ:AAPL) (FRA:APC), Microsoft Corporation (NASDAQ:MSFT) (FRA:MSF), The Walt Disney Company (NYSE:DIS) (FRA:WDP), IBM (NYSE:IBM) (LON:IBM) (FRA:IBM), Oracle Corporation (NYSE:ORCL) (FRA:ORC), Norton LifeLock (NASDAQ:NLOK) (FRA:SYM) and more. Additionally, NexTech announced that it has issued 200,000 3-year stock options exercisable at C$6.85 per share as part of its stock options plan. Shares debut on NEO exchange Also on Tuesday, NexTech shares began trading on Canada's NEO exchange under the symbol NTAR. In a statement, CEO Gappelberg told shareholders that the listing is important for the company's future growth plans. “As an innovative, futuristic, and senior stock exchange, NEO offers added liquidity and exposure to institutional investors which simply isn’t available on the junior exchanges," Gappelberg said. "And their service and support are second to none in the industry. We have worked closely with the NEO team to make this transition both seamless and efficient, and we are excited to work together as we pursue aggressive expansion plans going forward.” “Not only is Nextech yet another up-listing in a wave of recent graduations and migrations from other exchanges, but it is also a rapidly-growing change-maker in the technology space, like several other recent NEO listings," NEO CEO Jos Schmitt added. "As quality companies like Nextech recognize the value of our unique liquidity solutions and enhanced service offering, their decision to list with NEO becomes an obvious one. We look forward to championing Nextech’s continued success as their listing partner of choice.” Shares of NexTech were trading at C$6.85 midday Tuesday. --Updated with NEO listing information-- Angela Harmantas contributed to this report Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com Follow him on Twitter @andrew_kessel