SVR.L Regulatory News (SVR)

26 Mar 2008 07:01

ServicePower Technologies PLC26 March 2008 ServicePower Technologies plc ("ServicePower" OR THE "COMPANY") SERVICEPower to acquire KonaWare Inc. 26 March 2008 - SERVICEPower (LSE: SVR) the leading provider of outsourcedservice and field management solutions, announces today that it has acquiredcertain assets of KonaWare Inc., a U.S. developer of mobility and GPS trackingtechnology. Under the terms of the agreement SERVICEPower will pay $150,000 forassets, intellectual property rights and a U.S. customer base. The KonaWare Mobility Platform (KMP) incorporates the latest technologicaladvances in wireless networks and mobile computing devices to provide enterpriselevel mobility and tracking solutions. Greatly enhancing the ability ofcompanies to manage their outlying service engineer network, applicationsinclude field force automation, transportation and logistics, vehicle trackingand telematics, and supply chain execution. Following an earlier agreement with SERVICEPower two of the company's fieldservice scheduling offerings: SERVICEMobility and SERVICEGPS were developed onthe KonaWare Mobility Platform. Current customers for SERVICEMobility include:Benco Dental, AiM and a large insurance company in the U.S. Current customersfor SERVICEGPS include Avaya, GE and Circuit City. Ben Dubin, Managing Partner of Asset Management Company and KonaWare boardmember commented: "KonaWare was founded in 1999 with over $8m of venture capitalfunds invested, and partnered with SERVICEPower in 2002. There is great synergybetween the two companies and I view this as the natural placement forKonaWare's technology and many of their key personnel." Mark Duffin, SERVICEPower CEO, commented, "This acquisition gives SERVICEPowerthe most complete field services offering within the highly fragmented market inwhich we operate. SERVICEPower now has its own service scheduling product withintegrated GPS technology and full warranty management that our newly enhancedsales team can sell to our customers royalty free - it is a total value serviceoffering." For further information, please contact: SERVICEPower Technologies PLC Tel: 0161 476 2277Mark Duffin, Executive DirectorBarry Welck, non-executive Chairman Evolution Securities Limited Tel: 020 7071 4300Bobbie Hilliam ICIS Limited Tel: 020 7651 8688Tom Moriarty, Bob Huxford About SERVICEPower SERVICEPower, publicly traded on the London Stock Exchange (LSE:SVR), allowscompanies to locate their employed field resources in the right geography,ensure they have the right mix of skills, and outside this geography create anetwork of independent, authorized service contractors whose costs areefficiently managed by our sophisticated warranty management software. Theschedules and routes for both the employed field resources and the independentservicers are optimised by SERVICEPower's technology to ensure the right balancebetween the cost of operations and ensuring customers receive a superior serviceexperience. This information is provided by RNS The company news service from the London Stock Exchange