AirIQ Selected To Provide Telematics Systems To Directed Electronics: Plans Include Rapid Deployment Of Four Leading Vehicle Security Brands.
Directed Electronics is one of the largest ISO 9001 registered suppliers of consumer branded vehicle security and convenience systems. Directed Electronics will market the AirIQ built Telematics system to consumers through its distribution channels under the well known brands; Viper(R), Clifford(R), Python(R) and Automate(R). AirIQ will supply the in-vehicle equipment, wireless provisioning services, hosted Internet and telephone consumer interfaces, and customer call centre support.
"Directed's consumer electronics brands are widely recognized and respected in the vehicle security industry," says Don Simmonds, President and CEO of AirIQ. "It is an honour to be selected as the solution provider for such an aggressive market thrust. In addition to their dominance within North America, Directed's network of dealers and agents extends internationally as well."
"Telematics is one of our targeted emerging markets and we are pleased to be aligned with AirIQ, who we consider to be the foremost provider of such services to the consumer market," explains Jim Minarik, President and CEO of Directed Electronics. "Our evaluation of new products and services has led us to a leading Telematics offering that will provide a strong business opportunity for our customers."
Revenue from the definitive agreement does not carry a specific value but commences with an initial shipment of 2,000 vehicular devices in June 2005. The value of the agreement will arise from the mutual market success of the parties.
About Directed Electronics
Directed Electronics is a market leader for vehicle security devices across multiple channels including regional retailers, national retailers, car dealers and OEMs, and "Mom & Pop" independent retailers. International distribution of Directed Electronics' products and services covers 58 countries in total. Directed Electronics owns and markets such well-known security and remote start brands as Viper, Clifford, Hornet, Python, Avital and Valet, and offers five branded GPS tracking products. Directed is also a prominent supplier of car audio equipment with its Directed Audio line, as well as a/d/s/ Mobile, Precision Power (PPI) and Orion brands. The company also markets a/d/s/ Home & Architectural products, as well as a full line of mobile entertainment products including LCD monitors and DVDs in the Directed Video line. Directed Electronics is proud to be the supplier of select SIRIUS products in the retail mobile electronics aftermarket, including the Sportster, Starmate and Starbase, SiriusConnect tuners, and a variety of accessories. In 2004, Directed acquired Definitive Technology, one of the world's premier designers and marketers of home audio loudspeakers. For more information please visit www.definitivetech.com. Directed is registered in the ISO 9001 international quality standard.
Directed Electronics is a portfolio company of Trivest, Inc., a private equity firm based in Miami, Florida. Since its founding in 1981, Trivest has sponsored more than 105 acquisitions and recapitalizations totaling more than $2 billion in value. For more information, please visit http://www.directed.com/ and http://www.trivest.com/.
AirIQ trades on the Toronto Stock Exchange under the symbol IQ. A leader in the Telematics marketplace, AirIQ is headquartered in Pickering, near Toronto, Canada. The Company operates as a wireless Internet applications service provider specializing in Telematics. Telematics is the name given to information and control messages sent wirelessly to and from vehicles and vessels. AirIQ's services are offered to five primary markets: Commercial Fleets; Consumer; Vehicle Finance; Indirect Distribution; and Marine Fleets. AirIQ gives vehicle and vessel owners the abilities to manage and protect their mobile assets. AirIQ's services include: vehicle locating, boundary notification, automated inventory, maintenance reminders, security alerts, vehicle disabling, unauthorized movement alerts and many more features. For additional information on AirIQ, its products and services, please visit the Company's website at www.airiq.com.
This news release contains forward-looking information based on management's best estimates and the current operating environment. These forward-looking statements are related to, but not limited to, AirIQ's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains words such as "anticipate", "believe", "expect", "plan" or similar words suggesting future outcomes. Such forward-looking statements are as of the date which such statement is made and are subject to a number of known and unknown risks, uncertainties and other factors which could cause actual results or events to differ materially from future results expressed, anticipated or implied by such forward-looking statements. Such factors include, but are not limited to, changes in market and competition, technological and competitive developments and potential downturns in economic conditions generally. Therefore, actual outcomes and results may differ materially from those expressed in such forward-looking statements. AirIQ disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.
AirIQ Inc. (TSX:IQ)
|Printer friendly Cite/link Email Feedback|
|Date:||Jun 29, 2005|
|Previous Article:||Macrovision Named SD Times 100 Software Industry Leader.|
|Next Article:||TriZetto to Host Medicare Part D Technology Solution for Universal American Financial Corp.'s Healthcare Subsidiaries.|