DALLAS, Sept. 18 /CNW/ - Sirit Inc. ("Sirit") (TSX: SI), a leading
provider of radio frequency identification ("RFID") technology, announced
today that it has entered into an OEM agreement with Dallas based EFKON USA,
Inc., a provider of intelligent transportation systems (ITS) and advanced
vehicle communications. Under the terms of the agreement, EFKON USA will
integrate Sirit's Title 21-based toll tag technology into a range of new toll
products that it unveiled at the International Bridge, Tunnel and Turnpike
Association's (IBTTA) 74th Annual Meeting and Exhibition, in Dallas, Texas.
EFKON USA's newly announced products include Pronto(TM), a high
performance toll tag system used for open road tolling, and can also be used
for parking and access control; and HOTShot(TM), a battery and solar powered
system for high occupancy tolling (HOT) that uses smart cards and biometric
identification for virtually failsafe authentication. Sirit's underlying 915
MHz toll technology, based exclusively on the open Title 21 standard, provides
the platform for these innovative solutions.
"We are very pleased to partner with Sirit to leverage its expertise and
integrate its technology into our new line of US electronic toll products,"
says Dr. John Kasik, President and CEO, Operations of Americas, EFKON USA,
Inc. "We firmly believe in providing open architecture-based solutions that
benefit our customers and end users by encouraging competition and allowing
for interoperability among compliant systems. We envision a day in the not too
distant future when national interoperability will mean open roads from coast
to coast."
"We welcome the opportunity to work with such an esteemed partner as
EFKON USA in expanding Sirit's technology reach into new products and
markets," stated Norbert Dawalibi, Sirit's President and CEO. "We are
extremely impressed with EFKON USA's new products and their vision for the
future."
Additionally, the agreement allows for EFKON USA to incorporate and/or
sell other Sirit products such as Sirit's line of IDentity automotive vehicle
identification products into complementary markets including parking and
access control.
About EFKON USA, Inc.
EFKON USA, Inc. is a subsidiary of EFKON AG, a global leader in
Intelligent Transportation Systems and Advanced Vehicle Communications. EFKON
USA develops its products on multiple open-architecture technologies that
stand alone or be seamlessly integrated into existing systems to provide its
customers greater choices of highly customized, interoperable solutions. EFKON
USA is a single source provider with services ranging from concept and design
to engineering, manufacturing and implementation. EFKON USA's products and
services are designed for transportation and traffic management systems with
applications in electronic toll collection; electronic payment systems with
multi-faceted (contactless) smart card operations; simplified central clearing
house operations; violation enforcement and processing; vehicle and driver
identification; fleet management and telematics. For more information, visit
www.efkonusa.com.
About Sirit Inc.
Sirit Inc. (TSX: SI) is a leading provider of Radio Frequency
Identification (RFID) technology worldwide. Harnessing the power of Sirit's
enabling-RFID technology, customers are able to more rapidly bring high
quality RFID solutions to the market with reduced initial engineering costs.
Sirit's products are built on more than 12 years of RF domain expertise
addressing multiple frequencies (LF/HF/UHF), multiple protocols and are
compliant with global standards. Sirit's broad portfolio of products and
capabilities are easily customized to address new and traditional RFID market
applications including Supply Chain & Logistics, Cashless Payment (including
Electronic Tolling), Access Control, Automatic Vehicle Identification,
Inventory Control & Management, Asset Tracking and Product Authentication. For
more information, visit www.sirit.com.
Cautionary Note Regarding Forward Looking Statements
Safe Harbor Statement under the United States Private Securities
Litigation Reform Act of 1995: Except for the statements of historical fact
contained herein, the information presented constitutes "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause the actual results,
performance or achievement of Sirit to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Readers are cautioned not to place undue reliance
on these forward-looking statements. Actual results may differ materially from
those indicated by these forward-looking statements as a result of risks and
uncertainties impacting Sirit's business which are discussed in the section
entitled "Description of the Business - Risks Factors" in Sirit's Annual
Information Form dated March 16, 2006 as filed with the securities regulatory
authorities in Canada via SEDAR. Although Sirit has attempted to identify
important factors that could cause actual results to differ materially, there
may be other factors that cause results not to be as anticipated, estimated or
intended.
"Sirit", the Sirit Design and "vision beyond sight" are all trademarks of
Sirit Inc. All other names of actual companies and products mentioned herein
may be the trademarks of their respective owners.
