DataLogic International Announces $3.0 Million Agreement for Panther Trak(TM) Global Positioning Systems
04 February 2005 - 2:22AM
PR Newswire (US)
DataLogic International Announces $3.0 Million Agreement for
Panther Trak(TM) Global Positioning Systems IRVINE, Calif., Feb. 3
/PRNewswire-FirstCall/ -- DataLogic International, Inc., (OTC
Bulletin Board: DLGI; Berlin, Frankfurt Stock Exchange: 779612) a
provider of a wide range of consulting services and
telecommunications products including VoIP equipment and GPS
vehicle tracking devices, today announced that it has entered into
an agreement to provide its global positioning system, Panther
Trak(TM), to CBSi Holdings Inc. CBSi will utilize Panther Trak for
the March 2005 launch of BounceGPS(TM). The agreement significantly
expands DataLogic's position in the GPS marketplace and calls for
DataLogic to provide $3 million worth of Panther Trak units to
BounceGPS over a one-year period. Under the terms of the agreement,
DataLogic will customize the units to optimize BounceGPS's
collateral protection application. "This agreement is a significant
win for DataLogic and a testament to the innovative spirit and
dedication of our GPS Products Group," commented Keith C. Moore,
DataLogic's CEO. "This order confirms the commercialization of
Panther Trak and secures our position in what we believe to be a
very dynamic market." BounceGPS, through its collateral protection
application, will use Panther Trak to reduce delinquency rates and
speed the recovery of delinquent collateral. A significant cost of
retrieving delinquent collateral, such as a repossessed vehicle, is
incurred in locating the vehicle. Panther Trak, through its global
positioning features, provides a very efficient mechanism to
precisely locate vehicles. Moore added, "This particular
application of Panther Trak, providing tracking capability for
delinquent vehicles, will help protect a lender's collateral. We
are confident that this use of Panther Trak will lower costs across
the business spectrum, from the lender and wholesale dealer to the
consumer." BounceGPS President Walt Camping commented, "We did
extensive research on GPS devices and found Panther Trak to have
the most robust feature set and form factor that matched our needs.
I am convinced that Panther Trak will be of immense benefit to our
customers. Panther Trak will have an immediate positive impact on
our business." About DataLogic International, Inc. DataLogic
International, Inc. is a technology and professional services
company providing a wide range of consulting services and
telecommunications products such as VoIP phones, videophones,
communications servers and GPS vehicle tracking devices. The
company also provides Information Technology outsourcing and
consulting services. DataLogic's customers include U.S. and
international governmental agencies as well as a variety of
international commercial organizations. For more information about
DataLogic International, please visit http://www.dlgi.com/. About
BounceGPS BounceGPS provides a complete collateral protection
solution to lien holders through the use of advanced technologies.
BounceGPS reduces delinquency costs and provides a faster and lower
risk solution to recover delinquent collateral. BounceGPS is
affiliated with privately held Camping Companies, Inc. (CCI). CCI
is the premier repossession agency, currently serving Arizona,
Colorado, Nevada, Oklahoma, Utah, and portions of California. This
news release includes forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, as amended, regarding, among other
things, our plans, strategies and prospects, both business and
financial. Although we believe that our plans, intentions and
expectations reflected in or suggested by these forward-looking
statements are reasonable, we cannot assure you that we will
achieve or realize these plans, intentions or expectations.
Forward-looking statements are inherently subject to risks,
uncertainties and assumptions. Many of the forward-looking
statements contained in this news release may be identified by the
use of forward-looking words such as: believe, expect, anticipate,
should, planned, will, may, intend, estimated, and potential, among
others. Important factors that could cause actual results to differ
materially from the forward-looking statements we make in this news
release include market conditions and those set forth in reports or
documents that we file from time to time with the United States
Securities and Exchange Commission. All forward-looking statements
attributable to DataLogic International or a person acting on its
behalf are expressly qualified in their entirety by this cautionary
language. Contact Information: Donna Dolan Investor Relations
949-260-0120 ext 204 DATASOURCE: DataLogic International, Inc.
CONTACT: Donna Dolan, Investor Relations of DataLogic
International, Inc., +1-949-260-0120, ext. 204, Web site:
http://www.dlgi.com/
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