Jul. 16, 2010 (Filing Services Canada) -- BSM Technologies Inc. (GPS - TSX Venture),
BSM Wireless Inc. (a wholly owned subsidiary of BSM Technologies Inc.) has reached agreement with SaskTel to acquire SaskTel's LoadTrak(tm) fleet tracking business.
As part of the agreement, existing LoadTrak customers will migrate to BSM Wireless. These customers will be transferred from the LoadTrak system to BSM's more advanced Sentinel system utilizing their already installed hardware. All customers will be migrated to BSM's application by the end of the year, at which time the LoadTrak applications will be phased out.
BSM is also announcing the launch of a new agreement with SaskTel and its dealers that will allow them to promote and sell the Sentinel system to new and existing customers.
The transaction has been structured as a long term, revenue-sharing agreement. Financial details of the agreement were not released.
"After thorough evaluation, BSM Wireless was chosen as the service provider best suited to offer LoadTrak customers the functionality and features they need, " said Robert Watson, SaskTel President and CEO, adding "SaskTel has full confidence in BSM Wireless and their ability to provide ongoing support to our valued customers."
"We are excited to have reached agreement with SaskTel to acquire the LoadTrak business," said Aly Rahemtulla, CEO of BSM Wireless. "We believe that our Sentinel application will provide a significant increase in functionality and value to existing LoadTrak customers and companies considering the service. Furthermore, this transaction cements BSM's position as Canada's leading provider of fleet management and fleet tracking technology, expanding our presence into Western Canada and giving us access to SaskTel's strong network of dealers."
About SaskTel
Saskatchewan Telecommunications Holding Corporation (SaskTel) is the leading full service communications provider in Saskatchewan, with $1.15 billion in annual revenue and more than 1.4 million customer connections including more than 550,000 wireless accesses, 543,000 wireline network accesses, 225,000 Internet accesses and 77,000 Max (TV) subscribers.
SaskTel offers a wide range of communications products and services including competitive voice, data, Internet, entertainment, national security, messaging, cellular, wireless data and directory services.
In addition, SaskTel International offers software solutions and project consulting in countries around the world.
In 2009, SaskTel contributed more than $651 million to the Saskatchewan economy through dollars spent with Saskatchewan-based suppliers and sponsorships to non-profit organizations. SaskTel and its wholly-owned subsidiaries have a workforce of approximately 4,800 employees.
For more information, please visit http://www.sasktel.com
About BSM Wireless
BSM Wireless is the leading provider of fleet management, fleet diagnostics and automated vehicle security systems providing real-time, web-based management and tracking of enterprise fleet assets. BSM Wireless provides solutions for commercial, government, and law enforcement organizations who manage and operate large fleets and who seek to enhance customer service, improve the security of their drivers and vehicles, and lower business costs.
BSM Wireless software as a service (SAAS) fleet management products, Sentinel FM and Fleetpulse, provide sophisticated real-time monitoring and control of commercial and personal vehicle assets, enabling commercial fleet operators to meet the demanding needs and stringent regulatory requirements governing today's mobile environments, while improving efficiency and reducing
BSM Wireless wholly-owned subsidiary of BSM Technologies Incorporated, a public company listed on the Toronto Venture Exchange (TSX-V:GPS).
For more information, please visit http://www.bsmwireless.com
For more information please contact:
Brad Macdonald
VP, Business Development
1-905-265-1200
bmacdonald@bsmwireless.com
Michelle Englot
SaskTel Media Relations
1-306-777-4476
michelle.englot@sasktel.sk.ca
Source: BSM Technologies Inc. (TSX-V: GPS) http://www.bsmtechnologies.com
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