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WirelessDevNet.com Press Release
Intrinsyc Announces New Agreement with Tiger Telematics
Intrinsyc Software International, Inc. (TSX:ICS), a global leader in creating, networking and managing specialized, intelligent devices, today signed a major strategic partnership with Tiger Telematics, Inc. worth approximately CDN $900,000 to provide application development and Windows CE .NET integration services for their advanced series of Gametrac gaming devices. The contract also includes provisions for ongoing royalties based on unit sales.
Under the agreement, Intrinsyc will develop fully-customized embedded software based on the Windows CE .NET operating system, telephony application software based on Intrinsyc's GSM/GPRS intellectual property and systems integration services for the Gametrac series of handheld products. The flagship product is a unique pocket-sized mobile device which provides a rich set of interactive features including 3D gaming, text messaging, MP3 support, video capture, video play back and GPS tracking. This innovative offering will deliver a unique combination of lifestyle content targeted specifically at youths and teenagers.
"Partnering with a world-class company such as Intrinsyc enables us to focus on our core capabilities of content creation and consumer marketing" said Mike Carrender, CEO of Tiger Telematics. "Intrinsyc brings a wealth of intellectual property and high-calibre skillsets to this project, allowing us to provide the features our customers demand in a leading-edge mobile entertainment device."
"As a Microsoft Gold Level Windows Embedded Partner, Intrinsyc Software is an ideal systems integrator to assist Gametrac in building their next generation consumer device based on the Windows CE .NET operating system," said Scott Horn, director of the Embedded Devices Group at Microsoft Corp. "This announcement continues to show the strength of the Windows Embedded partner ecosystem and the proven benefits Windows CE .NET provides to consumer electronic device manufacturers."
"This is a very significant contract for Intrinsyc that demonstrates the wide range of devices and applications that we are capable of helping device manufacturers deliver," said Derek Spratt, Intrinsyc's President and Chief Executive Officer. "We continue to win new contracts in the consumer electronics space and help companies such as Tiger Telematics break new ground with innovative wireless computing solutions."
About Intrinsyc
Intrinsyc provides unique software and hardware solutions that enable companies to cost-effectively create, network and manage a wide range of consumer and industrial specialized, intelligent devices. By leveraging Intrinsyc's products, engineering design services and systems integration expertise, customers make better decisions, improve productivity, and reduce time-to-market. Intrinsyc is an industry leading, public company with global customers such as Microsoft, IBM, Intel, Philips, Siemens, General Electric, Ford, and BEA Systems. To find out more about Intrinsyc, visit: www.intrinsyc.com.
About Gametrac and Tiger Telematics
Tiger Telematics Inc. is a designer, developer and marketer of mobile telematics systems and services that combine global positioning and voice recognition technology to locate and track vehicles and people down to street level in countries throughout the world. These systems are designed to operate over GSM networks and are currently being marketed to GSM subscribers, primarily by the company's United Kingdom based subsidiaries. To find out more about Tiger Telematics, visit: http://www.tigertelematics.com.
Gametrac Europe Ltd is a wholly owned subsidiary of Tiger Telematics, and is based in the United Kingdom. Gametrac is developing a series of new, advanced handheld products about the size of a pager, coming to market in the United Kingdom, and which combine state of the art handheld gaming and interactive content with GPS tracking functionality. To find out more about Gametrac, visit: http://www.gametrac.com.
Forward Looking Statements
This press release may contain forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact. Our expectations regarding future revenues depend upon our ability to develop and supply products, which we do not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in the pervasive computing market. In light of the many risks and uncertainties surrounding the pervasive computing market, you should understand that we couldn't assure you that the forward-looking statements contained in this press release will be realized.
Intrinsyc is a registered trademark of Intrinsyc Software International, Inc. All other trademarks are registered trademarks of the respective owners, and are hereby acknowledged.
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