Wherify and Lightyear to Integrate Springboard Location Based Services Platform
Written by Wherify Wireless, Inc.
Monday, 18 August 2008
Wherify and Lightyear to Integrate Springboard Location Based Services
Platform into Wireless Carrier Resale Programs Targeting Mobile
Enterprise Applications
SAN MATEO, Calif., Aug. 18-- Wherify Wireless, Inc. (BULLETIN BOARD: WFYW) home of the Springboard Location Based Services (LBS) Platform, today announced its intention to fully integrate its LBS platform into the wireless offerings provided by Lightyear Network Solutions, LLC. On August 13th the two companies announced the signing of a definitive agreement to merge. The Springboard platform is designed to enable wireless carriers, application providers and mobile device manufacturers to deliver location-based applications for their subscribers.
"We are very excited about our proposed merger with Lightyear and the strong product integration possibilities, especially when we consider Lightyear's recent agreement with Verizon Partner Solutions to resell wireless services," commented Vince Sheeran, Wherify's chief executive officer. "The integration of Wherify's GPS tracking capabilities and LBS platform into Lightyear's mobile phones will allow us to market a unique set of products in the area of mobile enterprise applications."
Both small and large businesses alike are increasingly demanding a tightly integrated platform that allows for the mobilization of business applications and processes. A recent study by Gartner Group indicates that 50% of enterprises are interested in adopting a mobile platform capable of supporting multiple applications, managing devices, and securing data and transport.
Sherman Henderson, president and CEO of Lightyear Network Solutions commenting on the proposed merger and the intent to integrated Wherify's Springboard LBS platform into Lightyear's wireless products stated, "We have already received inquiries from major customers and prospects regarding the availability of tracking applications and services on Wherify's platform. Several industry analysts are projecting location based services to be one of the fastest growing markets in the technology market place. We believe LBS is an exciting place for us to be and we look forward to providing the industry with Wherify's state of the art LBS applications."
Lightyear Network Solutions recently became the first Verizon Partner Solutions client to offer Verizon's new Wholesale Mobility Solutions suite to business and retail customers. The availability of this suite of products will allow Lightyear Network Solutions to bundle a variety of wireless voice, text messaging and mobile broadband services with the existing landline services offered to its more than 84,000 existing small and medium-size business and residential customers. The integration of Wherify's Springboard platform will provide Lightyear with additional robust solutions to market to its growing enterprise customer base.
Commenting on the recent proposed merger with Lightyear, Mr. Sheeran offered the following additional information, "The merger with Lightyear will provide the opportunity to unlock the value of our technology for the current Wherify shareholder. As described in Wherify's 8K filing on August 14th, the combined company is projecting revenues for calendar 2008 in excess of $61 million with projected growth to more than $75 million during 2009. For full year 2009 we are expecting to report positive operating income."
About Lightyear Network Solutions, LLC
Lightyear Network Solutions, LLC, provides voice, data, and video telecommunications services to small and medium sized businesses and residential customers through a network of 3,300 independent agents and representatives throughout the United States. CEO Sherman Henderson has been named one of the top 25 Most Influential People in Telecommunications and has been elected for six consecutive terms as Chairman of COMPTEL, the leading industry association representing communication service providers. In delivering its services, Lightyear partners with major carriers and telecommunications companies such as Verizon, AT&T, Level 3, Qwest, Sprint, Embarq, PAETEC, Sylantro, Cisco, Adtran, Voicecom, Iperia and Acme Packet. Lightyear is based in Louisville, Kentucky.
About Wherify Wireless, Inc.
Wherify Wireless, Inc. (OTCBB: WFYW), through its proprietary Springboard platform, provides location based services for fleet management, asset tracking, enterprise sales field service management, mobile social networking, personal safety, and mobile community search and shopping solutions in the United States. Springboard supports GPS and non-GPS equipped devices and is compatible with GSM and CDMA technologies. Wherify was founded in 1998, and is based in San Mateo, California.
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