Elliptic Labs Appoints New CFO

OSLO, Norway--(BUSINESS WIRE)--Elliptic Labs (EuroNext Growth: ELABS.OL) announced today that Lars Holmøy is appointed as the new CFO and Investor Relations (IR) effective June 1, 2021. Holmøy will succeed Thor A. Talhaug, who has been engaged as CFO for hire since 2019. Talhaug will stay on as the CFO and IR until Holmøy is onboard.

Holmøy is currently at Talentech Group, a leader in HR tech offering a SaaS platform and tools for recruitment, onboarding, and development of employees. He is serving as CFO with a focus on finance, business development, strategy, and M&A.

Before Talentech Group, Holmøy was at dRofus, a global SaaS company for planning, data management and BIM collaboration and a fully owned subsidiary of NEMETSCHEK (ETR: NEM), where he had a group CFO/CLO role with operational, legal and finance responsibilities for their teams globally. Prior to this, he served seven years at PwC Consulting/PwC Legal as a Senior Manager. Holmøy is a seasoned executive with a passion for technology and a proven operational track record. He has extensive experience in developing business plans for growth opportunities, implementing planning processes from the ground-up, and in scaling software companies globally.

Holmøy has a Master of accounting and auditing from NHH, a Master of Law from UiB, with additional International law studies from the University of Alberta Law, Canada.

“I am pleased to welcome Lars Holmøy to our leadership team,” said Laila Danielsen, Elliptic Labs CEO. “His experience in leading the financial operations and investor relations of global software businesses will be important as we are expanding our business into new verticals. I am confident Lars will provide strong leadership and is an excellent addition to the Elliptic Labs executive team.”

“On behalf of our board of directors and all at Elliptic Labs, I thank Thor A. Talhaug for his strong contributions over the past years,” said Laila Danielsen. “He has been an important contributor to our successful IPO and former capital raises. He has created good value for our company and our shareholders.”

“I am excited to join Elliptic Labs, a company I have been following and favored as an innovative company addressing large markets,” said Lars Holmøy. “Elliptic Labs has unique strengths, a strong business model, and a proven technology. I look forward to working with the team to execute on the company’s priorities, accelerate growth, and enhance value for shareholders and all stakeholders.”

About Elliptic Labs

Elliptic Labs is headquartered in Norway with presence in the USA, China, South-Korea, Taiwan, and Japan. Founded in 2006 as a research spin-off from Norway’s Oslo University, Elliptic Labs filed its IPO with the Euronext Growth Market in October, 2020. Elliptic Labs is a global enterprise targeting the smartphone, laptop, IoT, and automotive markets. The Company’s patented AI software combines ultrasound and sensor-fusion algorithms to deliver intuitive 3D gesture, proximity, and presence sensing experiences. Its scalable AI Virtual Smart Sensor Platform creates software-only sensors that are sustainable, eco-friendly, and already deployed in over 150 million devices. Elliptic Labs is the only software company in the market that has delivered detection capabilities using AI software, ultrasound and sensor-fusion deployed at scale. Elliptic Labs’ technology and IP are developed in Norway and solely owned by the Company.