OXNARD, Calif.--(BUSINESS WIRE)--Dec. 10, 2007--CalAmp Corp.
(NASDAQ:CAMP), a leading provider of wireless products, today
announced that it has entered into a patent license agreement with
DriveOK Inc., a provider of GPS-enabled vehicle tracking solutions,
for use of CalAmp's U.S. Patent Nos. 6,025,774 and 6,249,217 B1. The
patents relate to a vehicle location system that enables automobile
finance companies to locate and repossess vehicles serving as
collateral on loans that go into default.
CalAmp acquired these patents with the acquisition of the Aircept
Vehicle Tracking business from AirIQ in March 2007, and has since
filed complaints in the United States Federal Court against Procon,
Inc., Skywatch GPS LLC and iMETRIK Solutions Inc. for infringement.
"CalAmp is firmly committed to protecting and enforcing its
intellectual property rights, and we are pleased that DriveOK chose to
license our patented process technology for use in their business,"
stated Michael Burdiek, President of CalAmp's Wireless DataCom
Division. "DriveOK understood early on the value of our intellectual
property position, and they can now pass on the benefit of our
patented methods to their customers. This segment of the Vehicle
Tracking market is lightly penetrated by the advanced technological
solutions we offer, and we believe it has a significant opportunity
for growth for CalAmp and licensees of our intellectual property."
"DriveOK supplies turnkey GPS vehicle tracking solutions to a wide
variety of master distribution channel partners including Vehiclepath,
SysLOCATE, and StealthTracking," stated Mark Wells, President and
Chief Executive Officer of DriveOK Inc. "By licensing CalAmp's
patented process technology, we enable the maximum sales and marketing
flexibility for ourselves and our master distributors when serving the
wide variety of potential auto dealers, aftermarket accessory
providers, and vehicle fleet customers."
CalAmp's Aircept Vehicle Tracking business provides both equipment
and monitoring services for vehicle financing companies, including
'buy-here-pay-here' dealerships that specialize in automobile
financing for high credit risk individuals. According to the 2007
National Independent Automobile Dealers Association (NIADA) Used Car
Report, $75.8 billion in used car sales were financed by independent
car dealers in the United States during 2006 as Grade C paper or
lower, representing an annual addressable market of nearly 9 million
vehicles.
About CalAmp Corp.
CalAmp is a leading provider of wireless communications products
that enable anytime/anywhere access to critical information, data and
entertainment content. With comprehensive capabilities ranging from
product design and development through volume production, CalAmp
delivers cost-effective high quality solutions to a broad array of
customers and end markets. CalAmp is a supplier of Direct Broadcast
Satellite (DBS) outdoor customer premise equipment to the U.S.
satellite television market. The Company also provides wireless data
communication solutions for the telemetry and asset tracking markets,
private wireless networks, public safety communications and critical
infrastructure and process control applications. For additional
information, please visit the Company's website at www.calamp.com.
About DriveOK Inc.
DriveOK Inc., operating under their registered trademark DriveOK,
helps people and companies with the management, location, tracking and
recovery of their mobile assets. Based in San Diego, the company's
DriveOK GPS tracking system Vehicle Tracking Units offer unique
advantages with ease-of-use/install, functionality, and scalability
not found in other commercial products. This includes the ability to
manage diverse asset portfolios, receive real-time GPS tracking data
from a variety of platforms and devices, and operate over a variety of
networks and countries. Additional information and a live, hands-on
demonstration of the GPS tracking capabilities are available at
www.driveoktracking.com.
Forward-Looking Statement
Statements in this press release that are not historical in nature
are forward-looking statements, that involve known and unknown risks
and uncertainties. Words such as "may", "will", "expect", "intend",
"plan", "believe", "seek", "could", "estimate", "judgment",
"targeting", "should", "anticipate", "goal" and variations of these
words and similar expressions, are intended to identify
forward-looking statements. Actual results could differ materially
from those implied by such forward-looking statements. Although CalAmp
believes the expectations reflected in such forward-looking statements
are based upon reasonable assumptions, it can give no assurance that
its expectations will be attained. CalAmp undertakes no obligation to
update or revise any forward-looking statements, whether as a result
of new information, future events or otherwise.
CONTACT: CalAmp Corp.
Financial Relations Board:
Lasse Glassen, General Information
lglassen@frbir.com
SOURCE: CalAmp Corp.