Octave Names New President; Company to target growing $3B RFID industry

Octave Technology has re-organized its management team, placing start-up executive (and the company's VP of Commercial Business) Richard Stack at the helm. This move coincides with Octave's declaration that it will seek venture capital in 2004 and enter the growing market of RFID-based software development.

College Park, MD (PRWEB) January 12, 2004 --Octave Technology, Inc. has made a key executive appointment in order to strengthen the companys progression with RFID & Auto-ID software development and their market strategy, naming Octave's Vice President of Commercial Business Solutions, Mr. Richard Stack, as the firms new President. Mr. Stack assumed his new role on January 5, 2004.

"We are investing substantially in our product development efforts, partnerships, consulting business and R&D. The company now requires a new management approach in order to achieve the desired market presence and Richard has the energy, vision and desire to make Octave a great success," said Mr. Mark Baldwin, Octave's prior President. Mr. Baldwin is the President of Baldwin Technologies and Clean Fuel Management, Inc., while also a majority investor in Octave Technology. Mr. Baldwin will now be charged with building a Federal practice and managing the companys overall sales and marketing plan as the Senior Vice President of Sales and Marketing. Mr. Baldwin will continue working closely with other corporations to enhance joint business prospects and to build Octaves national re-seller program.

Mr. Baldwin and Rick Morani (Octaves other majority investor, the companys SVP of Operations & IT, and the President of HMG Technologies) approved Stacks appointment as President last month. Mr. Stack is one of the co-founders of Octave Technology and during this past year he has managed the firms commercial business and corporate marketing activities. In his new role, Stack will take on responsibility for the company's strategic direction and presence in the RFID & AIDC marketplace, while playing a key role in new product development, client relationships, and profitable revenue growth.

Mr. Stack brings a proven management track record in dynamic, start-up companies. Prior to co-founding Octave, Mr. Stack was a Vice President with HMG Technologies and venture-backed CareerRewards.com, the President and founder of Arlington Partners / Centervise Inc., and held various sales, marketing and recruitment positions with EDS, Monster.com, kForce and Ajilon.

"Given the growing interest in RFID and Auto-ID technologies, our client and partner roster, and our software capabilities, Octave is poised for rapid growth," Stack says. "We are very excited about 2004 and beyond."

About Octave Technology
Octave Technology is a provider of AIDC (Automatic Identification & Data Collection) platforms and software to improve data management and asset maintenance procedures within various industries and organizations. Capitalizing on RFID, contact memory, and bar-code technologies, Octave Technology's software and services help organizations reduce costs, reduce risks, increase market share and increase revenue.

Octave Technology's newest product, MAINTAIN, is a Windows-based application that utilizes contact memory technology and provides an effective means to view, manage and maximize critical asset information.

Read about Octave Technology in the Washington Post (11/23/03):
http://www.washingtonpost.com/wp-dyn/articles/A9112-2003Nov23.html
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