Thursday, September 3, 2009

Vortex Solution progresse ses opérations américaines

ANAHEIM, CA, Sep 02, 2009 (MARKETWIRE via COMTEX) ----NavStar Technologies, Inc. (PINKSHEETS: NVSR: undefined, undefined, undefined%), a multinational firm focused on developing and commercializing asset tracking and monitoring devices for vehicles and high value cargo, today announced a strategic relationship with Vortex Solution, a Canadian company with offices in Montreal and New York City, to provide the annuity-based services that NavStar has been seeking to complement its product offering.

N. Douglas Pritt, Chairman and CEO, confirmed that an LOI has been signed and that a final agreement will be completed in the next two weeks. The agreement includes a combination of stock, cash and a per user royalty payment.

"We decided to focus our attention on Vortex about three weeks ago when it became apparent that their monitoring/tracking software had been improve significantly over the past 12 months. They have 5 or 6 software engineers that have successfully integrated our hardware with their software and have sold several thousand NavStar units in Montreal under the brand name AVL Track," said N. Douglas Pritt, NavStar's Chairman and CEO. "Their experience with our product will easily accelerate the software/hardware integration by 6 months and gives us a proven software platform which is already supporting thousands of users."

"We are immensely pleased of NavStar's decision to establish a partnership with our firm for their software platform. We have already had great success with their hardware working on our platform in both the US and Canada. With 65 software engineers in place we can be very responsive to customer needs and the request for new services. Moreover, the markets on which NavStar is currently operating represent new horizons for our company," said Guy Michon, Vice President Vortex Solution.

Published by VortexSolution.com at 08:51