CalAmp Licenses Patents for Vehicle Location Technology to DriveOK.OXNARD, Calif. -- CalAmp Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CAMP), a leading provider of wireless products, today announced that it has entered into a patent license agreement with DriveOK Inc., a provider of GPS-enabled vehicle tracking solutions, for use of CalAmp's U.S. Patent Nos. 6,025,774 and 6,249,217 B1. The patents relate to a vehicle location system that enables automobile finance companies to locate and repossess repossess v. to take back property through judicial processes, foreclosure, or self-help upon default in required payments. vehicles serving as collateral on loans that go into default. CalAmp acquired these patents with the acquisition of the Aircept Vehicle Tracking business from AirIQ in March 2007, and has since filed complaints in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Federal Court against Procon, Inc., Skywatch GPS LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and iMETRIK Solutions Inc. for infringement. "CalAmp is firmly committed to protecting and enforcing its intellectual property rights, and we are pleased that DriveOK chose to license our patented process technology for use in their business," stated Michael Burdiek, President of CalAmp's Wireless DataCom Division. "DriveOK understood early on the value of our intellectual property position, and they can now pass on the benefit of our patented methods to their customers. This segment of the Vehicle Tracking market is lightly penetrated by the advanced technological solutions we offer, and we believe it has a significant opportunity for growth for CalAmp and licensees of our intellectual property." "DriveOK supplies turnkey GPS vehicle tracking See vehicle tracking. solutions to a wide variety of master distribution channel partners including Vehiclepath, SysLOCATE, and StealthTracking," stated Mark Wells Mark Wells (born September 18, 1957 in St. Clair Shores, Michigan) is a retired American ice hockey forward. He is best known for being a member of the Miracle On Ice 1980 U.S. Olympic hockey team won the gold medal. , President and Chief Executive Officer of DriveOK Inc. "By licensing CalAmp's patented process technology, we enable the maximum sales and marketing flexibility for ourselves and our master distributors when serving the wide variety of potential auto dealers, aftermarket accessory providers, and vehicle fleet customers." CalAmp's Aircept Vehicle Tracking business provides both equipment and monitoring services for vehicle financing companies, including 'buy-here-pay-here' dealerships that specialize in automobile financing for high credit risk individuals. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the 2007 National Independent Automobile Dealers Association (NIADA NIADA National Independent Automobile Dealers Association NIADA National Insitute of American Doll Artists ) Used Car Report, $75.8 billion in used car sales were financed by independent car dealers in the United States during 2006 as Grade C paper or lower, representing an annual addressable Reachable. When something is addressable, it can be identified and manipulated independently of its surroundings. For example, screen pixels and RAM memory are addressable. Each of the screen's picture elements can be individually turned on and off, and each of the memory's bytes can be market of nearly 9 million vehicles. About CalAmp Corp. CalAmp is a leading provider of wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. products that enable anytime/anywhere access to critical information, data and entertainment content. With comprehensive capabilities ranging from product design and development through volume production, CalAmp delivers cost-effective high quality solutions to a broad array of customers and end markets. CalAmp is a supplier of Direct Broadcast Satellite (DBS (Direct Broadcast Satellite) A one-way TV broadcast service from a communications satellite to a small round or oval dish antenna no larger than 20" in diameter. ) outdoor customer premise equipment to the U.S. satellite television market. The Company also provides wireless data communication solutions for the telemetry telemetry Highly automated communications process by which data are collected from instruments located at remote or inaccessible points and transmitted to receiving equipment for measurement, monitoring, display, and recording. and asset tracking markets, private wireless networks, public safety communications and critical infrastructure and process control applications. For additional information, please visit the Company's website at www.calamp.com. About DriveOK Inc. DriveOK Inc., operating under their registered trademark DriveOK, helps people and companies with the management, location, tracking and recovery of their mobile assets. Based in San Diego, the company's DriveOK GPS tracking system Vehicle Tracking Units offer unique advantages with ease-of-use/install, functionality, and scalability not found in other commercial products. This includes the ability to manage diverse asset portfolios, receive real-time GPS tracking data from a variety of platforms and devices, and operate over a variety of networks and countries. Additional information and a live, hands-on demonstration of the GPS tracking capabilities are available at www.driveoktracking.com. Forward-Looking Statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Statements in this press release that are not historical in nature are forward-looking statements, that involve known and unknown risks and uncertainties. Words such as "may", "will", "expect", "intend", "plan", "believe", "seek", "could", "estimate", "judgment", "targeting", "should", "anticipate", "goal" and variations of these words and similar expressions, are intended to identify forward-looking statements. Actual results could differ materially from those implied by such forward-looking statements. Although CalAmp believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be attained. CalAmp undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. |
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