Toronto
Stock Exchange Symbol: CSY
CALGARY, May 17 /CNW/ - (TSE:CSY - news):
CSI Wireless Inc., a leading provider
of advanced wireless and GPS technologies
for the high-growth automotive, commercial,
and consumer markets, announced today
that it has signed a sales contract for
an additional $22 million in orders from
InterTrak Tracking Services, L.L.C., a
leader in vehicle and asset tracking services
in the United States. The additional order
continues to utilize CSI Wireless asset
management technology and is in addition
to an earlier $7.2 million contract with
InterTrak for AssetVision(TM) product
announced in January of 2001. This brings
total product orders from InterTrak to
$29 million, to date.
CSI
Wireless' new AssetLink product line
is an affordable, highly integrated
asset management solution. CSI Wireless'
AssetVision and AssetLink technology
combines CSI's wireless technology and
high-accuracy Global Positioning System
(GPS) technology to create low-cost
mobile products for many telemetry and
telematics applications. CSI Wireless
will begin shipping AssetLink in the
second half of 2001. AssetLink will
operate initially on the Aeris Microburst®
control channel cellular network that
encompasses virtually all of North,
Central and South America.
"The
highly functional AssetVision we've
been installing since the beginning
of this year has proven to be an outstanding
component for our leading tracking services,"
said Nick Greco, Director of Operations
at InterTrack. "AssetLink will
give us the functionality that we need,
but at a lower cost, giving InterTrak
a further competitive position."
"AssetVision,
which we have been shipping to InterTrak,
is a very robust product," stated
Stephen Verhoeff, President & CEO
of CSI Wireless. "The newer technology
imbedded in the AssetLink, is essentially
a smaller and improved version of AssetVision,
keeping the most popular functions used
in the market today. This allows CSI
Wireless to effectively cover the needs
of a much larger spectrum of the tracking
market." AssetVision for MicroBurst,
introduced to the market by CSI Wireless
in October of 2000, is a powerful hardware
device capable of tracking and monitoring
assets and vehicles and assets virtually
anywhere in the United States, Canada
and Mexico, and throughout much of South
America.
InterTrak
has been using AssetVision to enable
customers to track individual vehicles
or entire fleets from a secure Web site
anywhere Internet access is available.
By integrating AssetVision with its
own software, InterTrak provides an
economical and easy-to-use system for
vehicle and asset tracking. "This
follow-up order from InterTrak demonstrates
the strength of CSI Wireless technology
as a valuable component for asset tracking
services," added Verhoeff. As InterTrak's
key hardware supplier, CSI Wireless
is partnering with InterTrak for development
and engineering to ensure that products
- such as AssetLink - meet critical
market requirements.
"AssetVision
from CSI Wireless has helped us offer
a reliable asset tracking system to
our customers," said Nick Greco,
Director of Operations at InterTrack.
"CSI Wireless' new AssetLink will
bring the features that we need at a
lower cost and size. The partnership
and supply agreement we have with CSI
Wireless is important in supporting
the high growth we have been experiencing,
so that we can continue to successfully
grow together into the future."
The
InterTrak Service
InterTrak
markets a simple yet powerful vehicle
tracking system composed of CSI Wireless
hardware and InterTrak's GPS tracking
and mapping software which enables users
to track vehicles from multiple locations
including homes and offices. An AssetLink
or AssetVision unit is installed in
each tracked vehicle or asset, and InterTrak's
software and maps are installed in each
Windows-based, Internet-enabled computer
used for tracking.
Location reports can be generated on
a scheduled basis or on-demand at any
time. It usually takes less than 20
seconds to retrieve location data from
an Asset-Link or AssetVision unit and
to plot the position on an InterTrak
GPS map - a substantial improvement
from the several minutes required using
competitive services. Asset-Link and
AssetVision are silent and easily concealed,
so a driver need not know his vehicle
is being tracked.
The
InterTrak system has a wide range of
applications but is most suitable for
personal security, precious cargo tracking,
and public safety, where up-to-the-minute,
real-time tracking is essential. InterTrak
will display the vehicle's current speed
and position and can provide a detailed
report of the vehicle's history including
its speed, distance traveled and locations
during a defined period. InterTrak's
on-board intelligence provides real-time
fleet location information to increase
productivity, fleet control and theft
recovery.
"InterTrak
represents the affordable solution for
small and medium fleets that want to
improve and maintain timely deliveries
and pick-ups without a huge capital
investment," said Greco.
InterTrak
is the first company to provide a vehicle
and equipment recovery system with nationwide
coverage with no monthly monitoring
fees. In less than two years, InterTrak
has attracted a great deal of users,
and begun providing services to one
of America's largest fleet leasing companies.
InterTrak is also negotiating original
equipment manufacturer (OEM) relationships
with various automotive equipment manufacturers.
CSI
Wireless provides innovative, cost-effective,
wireless and GPS vehicle and asset management
products for mobile and fixed applications
in the automotive, commercial and consumer
markets. Through its integration of
wireless and GPS, CSI Wireless is pursuing
emerging high-growth markets with mobile-location
solutions for Fleet Management, Asset
Tracking, Automotive Telematics, and
Mobile Computing applications. The Company,
with offices in Calgary, Silicon Valley,
and Phoenix, owns several patents and
intellectual property related to a variety
of wireless networks and GPS technologies.
CSI Wireless has licensed its cellular
technology to GPS, cellular handset,
and chipset manufacturers. The common
shares of CSI Wireless trade on The
Toronto Stock Exchange under the trading
symbol "CSY," with approximately
18.4 million shares outstanding. Visit
the Company's web site at www.csi-wireless.com.
R)
MicroBurst is a registered trademark of
Aeris.net
(TM) AssetVision and AssetLink are trademarks
or pending trademarks of
CSI Wireless Inc.
For
further information:
Investor
Relations: Cory Pala, E-vestor Communications
Inc.,
(416) 657-2400, (416) 657-2400 (fax),
e-mail: cpala@e-vestorcom.com
Stephen
Verhoeff, CSI Wireless Inc.,
(403) 259-3311, (403) 259-8866 (fax),
e-mail: sverhoeff@csi-wireless.com
Media Relations: Jeff Adams, CSI Public
Relations Manager,
(403) 259-3311 (ext. 254), (403) 615-8747
(cell), e-mail:
jadams@csi-wireless.com
Nick
Greco, Director of Operations, InterTrak
Tracking Services, L.L.C.,
(972) 731-4341, (972) 731-4343 Fax,
nick@trackmenow.com,
www.trackmenow.com
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