WOODBRIDGE, ON, Sept. 19 /CNW/ - BSM Technologies Inc., (GPS: TSX-V)
(http://www.bsmtechnologies.com) a leading provider of high security vehicle
tracking and surveillance solutions today announced receipt of a large order
from the Automotive Technology Group (ATG) for a Fortune 500 company providing
leading-edge transportation, logistics and supply chain management solutions
worldwide. For security reasons, the identity of the Unnamed Fortune 500
Company ("UNF500") will remain confidential.
FORTUNE 500 COMPANY UTILIZES BSM's SENTINELAV SOLUTION TO TRANSPORT
SENSITIVE CARGO OF MAJOR CLIENT, PREVENT AND REDUCE CARGO THEFT
The UNF500 will be specifically utilizing BSM's SentinelAV to transport
highly sensitive cargo of a major client that has also requested anonymity. To
accomplish this, the UNF500 has equipped 200 plus units of their cargo
carrying transport fleet with BSM's "SentinelAV" monitoring and security
solution. The total contract value is approximately $900,000. The services
portion is valued at approximately $711,000 over the next 5 years. The
contract can be cancelled after the first year at the option of the customer.
BSM AWARDED CONTRACT FOLLOWING STRINGENT PEER GROUP DUE DILIGENCE
BSM initially received the order for the 200 plus High Security
SentinelAV Units from ATG in March 2006. However, the purchase was conditional
on ATG performing a due diligence study on behalf of their client on competing
companies that provide secure fleet management, significant market experience
and high levels of confidentiality during the installation and post
implementation process. "After significant testing of the SentinelAV solution,
there was a very quick ramp-up and implementation plan put into place to meet
the needs of the client." Said Michael Bookbinder, Director of Sales at BSM
Wireless.
ATG and their clients provided stringent security solutions and testing
criteria to conclusively determine that the BSM solution would meet their
needs. BSM met and surpassed the testing criteria in a large part due to BSM's
armoured car capabilities, especially its success with a previously announced
$2 million USD contract with Bantek Armored Services in the United States.
"This is a major pronouncement of BSM's ability to provide unique solutions in
the market for many vertical market challenges," continued Bookbinder.
"Automotive Technology Group (ATG) is a leading integration and solutions
provider for the automotive industry and we leveraged BSM Technologies
background in the high end GPS and security market to come up with a solution
for their Fortune 500 company client," said Paul Zlatar, Senior Director of
Operations of ATG. Paul Zlatar also noted that "BSM's Bait car program and
experience in developing a sophisticated armored car solution made them the
place to go to meet and exceed the criteria, with the agility to customize and
install within very strict guidelines and time constraints. The ease of
integration of BSM's technology to a special security suite of products went
smoothly and after a short pilot ATG placed their first order for a
significant dollar amount."
Commenting on the order, Michael Bookbinder stated "From a sales and
marketing point of view, there is no greater validation of our strengths and
ability to meet the needs of the marketplace with quality products, services
and support. We were asked to deliver a tracking and security system that
allowed the UNF500 client to continuously monitor the location and security
status of every vehicle in their fleet and this order serves as proof positive
that we accomplished that task better than any other company in this space.
The BSM solution is incomparable for ensuring the security of customer cargo,
delivery of the cargo and safety of the drivers."
This press release is available on the company's official on-line
investor relations site for investor commentary, feedback and questions.
Investors are asked to visit http://www.agoracom.com/ir/bsm. Alternatively,
investors are asked to e-mail all questions and correspondence to
GPS(at)agoracom.com where they can also request addition to the BSM Technologies
investor e-mail list to receive all future press releases and updates
directly.
About BSM Technologies (GPS: TSX-V) (http://www.bsmtechnologies.com)
BSM Technologies designs, manufactures and markets a comprehensive line
of AVSL (Automatic Vehicle Security and Tracking) solutions for Fleet
Management, Law Enforcement, and Consumer Vehicle Protection, through its
subsidiary BSM Wireless. The BSM line of products range from Fleet Management
and Consumer Vehicle Protection offerings to the full featured "Stinger"
product featured in news media worldwide as the key technology behind the Bait
and Covert application used by hundreds of Law Enforcement agencies to deter
vehicular, trailer and heavy equipment theft.
Superior functionality, seamless switching between 2 separate footprints,
enhanced reliability, advanced security features, and excellent value
characterize BSM products. By incorporating advanced wireless locating and
mapping technology, and IP-based communications protocols, the BSM line of
products provides sophisticated real-time monitoring and control of commercial
and personal vehicle assets to meet the demanding needs and stringent
requirements of today's mobile environments. BSM's unique end-to-end solutions
feature sophisticated wireless hardware, firmware and software all developed
by and proprietary to BSM. The BSM product line can be easily adapted and
customized to match any customer user requirement while BSM's in-house support
infrastructure assures that all clients receive the premium AVSL solution in
the industry to meet their needs.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. No stock
exchange, securities commission or other regulatory authority has approved or
disapproved the information contained herein. This News Release may include
certain "forward-looking statements" that involve risks and uncertainties.
Actual results may differ materially from results indicated in any
forward-looking statements. The company cautions that, among other things, in
view of the rapid changes in communications markets and technologies, and
other risks including the cost and market acceptance of the company's new
products, the level of individual customer procurements and competitive
product offerings and pricing, and general economic circumstances, the
company's business prospects may be materially different from forward-looking
statements made by the company.
