Columbus Signs Important Agreement with Location-Based Services Leader: Ituran
Written by Columbus Geographic Systems (GIS) Ltd.
Friday, 11 January 2008
LAS VEGAS, Jan. 11 -- Columbus Geographic
Systems (GIS) Ltd. ("Columbus") (Pink Sheets: CGSE) announced today the
signing of an agreement with Ecom Global Electronic Commerce Ltd, a
subsidiary of Ituran Location and Control Ltd (Ituran), a $250 million
NASDAQ-traded company and leading provider of unique and comprehensive
location, tracking and communication solutions for vehicles, cargo,
valuables, and personnel.
Ituran currently markets a range of Personal Navigation Devices
(PND), including personal, hand held navigation devices as well as
in-vehicle systems. Ituran will incorporate Columbus' latest off-road
navigation application, Ranger, in their PND. Ranger is cutting-edge
navigation software providing location-based, Global Positioning System
(GPS) mapping, navigation, and information solutions for the off-road
environment. Ranger works on a range of devices including Car PC, PDA,
and PND.
"Ituran is a leading player in location-based services and we are
pleased that they have selected Ranger, to provide off-road navigation
in their PND," said Columbus CEO Tsvika Freidman. "They looked at the
market, and after extensive research reached the conclusion that Ranger
is the leading application on the market today. Many navigation device
vendors are looking for best-of-breed applications to incorporate in
their PND, and Ranger currently offers the most advanced solution for
off-road navigation. Following this agreement with Ituran, we look
forward to working with other leading navigation device vendors in the
near future."
About Columbus Geographic Systems
Columbus Geographic Systems (GIS) Ltd. is a rising player in the
field of geographic information systems (GIS) and navigation
applications. The Company brings advanced software capabilities to a
wide range of users and devices, previously only accessible to trained
professionals on dedicated devices. Main products:
- Highly-effective off road, outdoor GPS navigation tools, working on a
full range of devices including Car PC, PDA, and Personal Navigation
Devices (PND), with options for 3D imaging.
- Innovative, affordable GIS tools easily used in a range of
applications, including businesses, agriculture, surveys, and
government agencies.
- Aerial GIS applications for military and civilian aircraft operating in
complex or threatening environments.
Ituran provides location-based services, consisting predominantly of
stolen vehicle recovery and tracking services, as well as wireless
communications products used in connection with its location-based
services and various other applications. Ituran offers mobile asset
location, Stolen Vehicle Recovery, management & control services
for vehicles, cargo and personal security. Ituran's subscriber base has
been growing significantly since the Company's inception to over
418,000 subscribers distributed globally. Established in 1995, Ituran
has approximately 900 employees worldwide, provides its location based
services and has a market leading position in Israel, Brazil, Argentina
and the United States. The Company's shares are traded on NASDAQ and
TASE.
Forward-Looking Statements
Certain statements in this news release may contain
'forward-looking' information within the meaning of the Federal
securities laws. All statements, other than statements of fact,
included in this release may include forward- looking statements that
may involve risks and uncertainties.
There can be no assurance that such statements will be accurate and
actual results and future events could differ materially from those
anticipated in such statements. The Company undertakes no obligation to
update forward- looking statements to reflect subsequently occurring
events or circumstances or to reflect unanticipated events or
developments.
Source: Columbus Geographic Systems
CONTACT: Columbus Geographic Systems (GIS) Ltd., +972 8 8601001,
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