Encino, CA, August 06, 2008 --(PR.com
)-- TechnoCom Corporation™, a leading provider of solutions to enable wireless location services, announced the sale of its mobility solutions business unit to Kapsch TrafficCom, Inc, the U.S. subsidiary of Kapsch TrafficCom AG, an international supplier of innovative road traffic telematics solutions.
The mobility solutions business unit was spawned from the company’s advanced research into the use of wireless technology, most notably direct short range communication (DSRC),for next-generation transportation applications. The twelve-person business unit was sold for an initial payment of $15M and potential earn-out payments exceeding $4M for achievement of future technical and financial objectives.
TechnoCom’s sale of this business unit allows the company to more sharply focus its resources on its core wireless and location business. With the rapidly increasing introduction of GPS and other high speed data and location technologies into 2.5 and 3G wireless networks and cell phones around the world, TechnoCom’s products and services are well positioned for the high growth of emerging wireless technologies and location applications.
TechnoCom helps wireless carriers, service providers and enterprises implement, optimize and manage location systems for a variety of wireless applications including location based services (LBS), mobile enterprise applications and enhanced 911 (E9-1-1). In addition, the company provides quality of service assurance solutions that give its customers continued, automated oversight into their wireless and location system’s performance. TechnoCom’s LocationAssurance Manager industry’s leading wireless location service assurance solution, operating in wireless networks serving over one hundred million U.S. cellular subscribers.
“Kapsch’s acquisition of the mobility solution business unit attests to the high value of our outstanding positioning, expertise and technology,” says Masoud Motamedi, president of TechnoCom. “Through this transaction, we will be even better positioned to build on our leadership position in the explosive wireless location market in existing and emerging networks.”
TechnoCom Corporation is a leading provider of products and services to enable wireless location solutions for wireless carriers, service providers and enterprises. TechnoCom helps its customers efficiently implement, optimize and manage location solutions for E9-1-1, location-based services including navigation, local search, mobile directory and real-time traffic information, and other wireless applications. The company’s flagship products, including its Location eXchange Server® and LocationAssurance Manager platforms, allow efficient implementation of wireless location solutions and empower customers with continuous, automated oversight into location system performance.
Founded in 1995 and privately held, TechnoCom has been selected by Deloitte as one of the 50 fastest-growing technology companies in Los Angeles for four consecutive years. TechnoCom’s customers include Alltel Wireless, AT&T, Cricket Communications, Openwave, Sprint Nextel, Telus, and Verizon Wireless. For more information about TechnoCom, please visit their website at www.technocom-wireless.com.
About Kapsch TrafficCom
Kapsch TrafficCom is an international supplier of innovative road traffic telematics solutions. Its principle business is the development and supply of electronic toll collection (ETC) systems, in particular for multi-lane free-flow (MLFF), and the technical and commercial operation of such systems. Kapsch TrafficCom also supplies traffic management systems, with a focus on road safety and traffic control, and electronic access systems and parking management. With more than 140 installed tolling systems in 30 countries in Europe, Australia, Latin America, the Asian/Pacific region and South Africa, and almost 12 million On-Board Units and nearly 10.700 equipped lanes, Kapsch TrafficCom has positioned itself among the market leaders in ETC systems worldwide. Kapsch TrafficCom is headquartered in Vienna, Austria, and has subsidiaries and representative offices in 20 countries.
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