Memex Goes Public, Will Trade on TSX Venture Exchange

BURLINGTON, Ont.: Astrix Networks Inc., which operates under the trade name Memex Automation, has completed its reverse take-over of GPS  Investment Corp., acquiring 48,132,080 common shares. It will commence trading publicly once the take-over is  accepted by the Toronto Stock Exchange’s (TSX) Venture Exchange.

A reverse merger takeover (reverse IPO) involves  the acquisition of a public company by a private company to ensure the purchaser bypasses the lengthy process of going  public.

“We can now access the working capital we need to further strategic partnerships and bring our products  worldwide,” said Dave McPhail, CEO of Memex Automation. “We’re part of a worldwide market, and this opportunity  puts us in a position to lead that market.”

Memex develops real-time shop-floor-to-top-floor technologies. Its flagship  product, MERLIN, offers overall equipment effectiveness (OEE) metrics in real-time to allow manufacturers to enhance  their production through shop-floor data analysis. It earned the 2013 North American Frost & Sullivan award for Technology Innovation Leadership.

The company also has strategic partnerships with Microsoft and tool builder Mazak,  which installed Memex’s automation system at its Florence, Ky. plant.

McPhail says Memex will use some of the  $854,000 raised from the IPO to add four employees, and to market its products.

Since it opened shop in 1992, Memex  has partnered with 280 dealers and has worked with more than 12,000 customers globally. McPhail, along with a group  of private investors, acquired the company in 2008.

To see the full magazine, please click here.  Memex is on page 4.

To see the full Memex article, please click on the pdf. under “Downloads”.  Memex is on page 4.

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