Trakm8 Hldgs Regulatory News (TRAK)

9 Nov 2007 07:01

Trakm8 Holdings PLC09 November 2007 Embargoed until 0700h, Friday 9 November 2007 TrakM8 TRAKM8 HOLDINGS PLC ("Trakm8" or "the Group") Reciprocal licence agreement with Tyco Electronics Trakm8, (AIM: TRAK), a telematics technology and service provider to the globalvehicle tracking and security market, is pleased to announce that it has signeda reciprocal licence agreement ("the Agreement") with Tyco Electronics LTD("Tyco Electronics") to jointly develop the next generation of advanced GPStracking Systems worldwide (with Tyco Electronics providing the hardware andTrakm8 the software). As part of the Agreement, Trakm8 will generate additional revenues by licensingits proprietary embedded firmware to Tyco Electronics which is already deployedin well over 100,000 Trakm8 devices globally. This will enable Tyco Electronicsto enhance its current capability as a pure hardware manufacturer to a completetelematics platform provider. Under the agreement, Tyco Electronics can alsomarket Trakm8's Global stream server software and professional services. Tyco Electronics already manufactures, to Trakm8's proprietary designs, theelectronic modules used within Trakm8's existing range of products. The newagreement extends this service to the production of Trakm8's complete unit. TycoElectronics will also, where appropriate, ship the complete units direct toTrakm8's customers. Consequently, Trakm8 will benefit further from TycoElectronics' in-house electronic design and manufacturing expertise andsignificantly reduced hardware platform manufacturing costs, whilst furtherdeveloping the commercial relationship between both companies. Trakm8 will continue to focus on developing its comprehensive softwareportfolio, enhanced by its recent acquisition of Pjsoft, a company specialisingin cartographic mapping application software. Tyco Electronics will globally market the next generation platform, scheduledfor general release in calendar Q1 08, with Trakm8's embedded software asstandard. The Agreement is consistent with the current Trakm8 strategy to focuson its core competencies in software and related service provision. Eckart Seitter, Director of Global Sales of Tyco Electronics commented: "Tyco Electronics' developing relationship with Trakm8 has produced advantages to bothcompanies to date. This agreement takes our partnership to a new level, withTyco Electronics and Trakm8 as equal partners in developing and deliveringadvanced telematics solutions to both our customers. We are delighted to be ableto contribute our platform design and manufacturing expertise to thisrelationship." Cary Knapton, CEO of Trakm8 added: "Trakm8 has recognised Tyco Electronics'design and manufacturing skills through our long standing relationship overseven years. For Trakm8, this agreement provides the opportunity to focus oncompleting our transition strategy to best-of-breed telematics software andservices provider. We look forward to a long term, mutually beneficialpartnership with Tyco Electronics, delivering advanced telematics services to amuch expanded user community." -ends- For further information please contact: Trakm8 Holdings PLC 0870 380 0531Cary Knapton, Chief Executive Officer Tim Couling, Finance Director Tyco Electronics Raychem GmbH +49 89 6089 834 Eckart Seitter, Director Global SalesHans Wiedemann, Manager Product Marketing Arbuthnot Securities 020 7012 2000Paul Vanstone Tavistock Communications 020 7920 3150Simon Hudson 07843 260 623Paul Youens About Trakm8 Trakm8, based in Shaftesbury, Dorset is the leading technology provider,designer and developer of hardware and software to the vehicle tracking andsecurity market. The Company distributes its hardware and software worldwidethrough a network of distributors. In addition, the Company provides ASP vehiclemonitoring and tracking services direct to the B2B market. Trakm8's productsallow vehicles and drivers to be monitored, allowing organisations to managedeliveries and services, or track stolen vehicles down to 5 metres. About Tyco Electronics Tyco Electronics Ltd. is a leading global provider of engineered electroniccomponents, network solutions, wireless systems and undersea telecommunicationssystems and services, with 2006 sales of US$12.3 billion to customers in morethan 150 countries. We design, manufacture and market products for customers inindustries from automotive, appliances and aerospace & defence totelecommunications, computers and consumer electronics. With approximately 8,000engineers and worldwide manufacturing, sales and customer service capabilities,Tyco Electronics' commitment is our customers' advantage. More information onTyco Electronics can be found at www.tycoelectronics.com. This information is provided by RNS The company news service from the London Stock Exchange