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Fastrax Signs Distributor and Sales Representative Agreements for the Nordic Countries with a leading Electronic Component Distributor ACTE
Helsinki, Finland - March 24, 2003 - Fastrax Ltd., a developer of industry-leading products for optimal utilization of the Global Navigation Satellite Systems (GNSS), today announced new Sales Representation and Distribution Agreement with a leading electronic component distributor ACTE, a part of a Swedish Lagercrantz Group.
ACTE will start representing Fastrax's family of GPS modules in Denmark, Finland, Norway and Sweden. ACTE is specialized in the distribution and representation of electronic components and system products, which require high technical skills and customized control of logistics.
"GPS modules with small size and low power consumption have huge market potential in the semiconductor business. Our highly skilled professional team can provide value-adding technical and commercial support for the manufacturers looking to add new GPS enabled features to their products", said Pekka Uusiaho, President of ACTE Ltd.
"ACTE has a solid track record and a strong market position especially in the Nordic countries. The company has been successful in growing the semiconductor distribution business from the Nordic countries to the Central European and UK markets. We are very excited to work together with a powerful and respected distributor", said Kim Kaisti, VP, Business Development of Fastrax Ltd.
Fastrax's product family of iTrax02 Series 12-channel GPS receivers offers key benefits in performance, size, power consumption and versatility to the user. The iTrax02 Series modules with iSuite navigation software enable the implementation of position-aware features into practically any appliance. They are ideally suited for both industrial tracking systems and battery-operated consumer products like mobile phones, asset tracking devices, handheld computers and sports accessories. Fastrax iTrax02 is the lowest power consuming complete 12-channel GPS receiver on the market and is thus optimal for small portable devices.
About Fastrax Ltd
Fastrax develops industry-leading products for optimal utilization of GNSS location services (Global Navigation Satellite Systems). The most well known of these services is GPS (Global Positioning System). Fastrax transforms GPS technologies into highly scalable solutions with open interfaces, combined with ultra low power consumption and miniature hardware design. With industry-leading performance, Fastrax GPS receivers navigate continuously even in extreme conditions. Receivers are ideally suited in both industrial location applications and high-volume consumer products such as cell phones and sports accessories. Headquartered in Finland and founded in 1999, the company is privately owned and backed by leading venture capital investors CapMan, Eqvitec, Startupfactory and Innocap, with a strategic investment by Suunto Corporation, a subsidiary of Amer Group, a leading global supplier of sporting goods equipment. More information: www.fastrax.fi.
About ACTE
ACTE was founded in 1997 and belongs to a group of specialized distributors with sister companies in Sweden, Norway, Denmark, Finland, England, Poland and Germany. The group has a combined staff of over 200 and a turnover of approximately USD 120M. ACTE is a part of Lagercrantz Group AB, which is listed on the Stockholm stock exchange. ACTE is focused on three major areas: electronic components, electro mechanics and industrial automation. We market a wide range of highly qualified and well-known suppliers in these areas. We invest significant resources in evaluating and developing our suppliers in order to always be able to offer our customers the latest and most interesting within different application areas. More information about ACTE is available at http://www.acte.se, www.acte.no, www.acte.fi, www.acte.dk, www.acte.pl, www.acte.co.uk, www.unitronic.de.
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