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WirelessDevNet.com Press Release
WebTech Acquires GlobeTrac's European Business
Burnaby, BC – December 2, 2004 – WebTech Wireless (TSX-V:WEW), a leading fleet Telematics products and service provider, has agreed to acquire all of GlobeTrac’s existing location-based and Telematics business in Europe.
GlobeTrac Inc. (OTCBB:GBTR), was a provider of location-based and fleet Telematics services throughout Europe and now intends to seek new business opportunities.
“Europe’s multi-billion dollar market represents a huge growth opportunity for WebTech,” said Anwar Sukkarié, President and CEO, WebTech Wireless. “The management at GlobeTrac has decided to transfer the business to WebTech based on an agreement that will allow both organizations to benefit from Europe’s huge location-based and Telematics services market. We have jointly seeded the market in the past two years and have come to realize that transferring GlobeTrac’s existing accounts to WebTech will make us very competitive and will assist in closing more deals and offering better customer service by dealing directly with our customers. In fact, we have received in excess of $400K in orders for products and subscriber services since the beginning of November for delivery before the end of 2004.”
The London office offers business and technical services to the UK and Ireland. Opening an office in Milan has greatly enhanced WebTech’s solution offering and market penetration on the European continent. GlobeTrac, which was a WebTech distributor, ceased all operations in Europe as of November 1st, 2004. This agreement allows WebTech to immediately provide monthly services using its web portal in eight languages to all existing and future European customers.
About WebTech Wireless Inc.
WebTech Wireless Inc. (TSX-V:WEW) is a global Wireless Services Provider that develops, manufactures, and delivers turnkey wireless solutions designed to improve productivity and profitability. WebTech products include wireless hardware and software services running on cellular and satellite networks, and include Automatic Vehicle Location, Mapping, Reporting, Vehicle Maintenance, Driver Status, In-vehicle Telemetry, Messaging, In-vehicle Navigation, and wireless application and Internet connectivity.
WebTech is currently providing devices and services worldwide in over thirty-eight countries covering five continents. WebTech’s scalable solutions are used by a broad range of small, medium, Fortune 500 companies and governments.
Forward Looking Statements
This press release contains forward-looking statements involving risks and uncertainties pertaining to, but not limited to product plans, timing, content, and pricing of products, market and industry expectations, the wireless communications industry, the mobile fleet industry, and general economic and political conditions. Given the risks and uncertainties inherent in the markets and industries referred to in this press release, WebTech cannot guarantee that any forward looking statements will be realized.
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