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From the Wires
EarthSearch Communications International Awarded Two Contracts From Nigeria
New Licensee Contracts Exceed $110M and Further Strengthen EarthSearch Communications' Global Position for Wireless and GPS-Base
By: Marketwire .
Apr. 9, 2008 06:50 AM
ATLANTA, GA -- (MARKET WIRE) -- 04/09/08 -- EarthSearch Communications International, Inc. (FRANKFURT: 3ES1), a leading supplier and developer of wireless and GPS-based tracking and navigation solutions, was awarded two contracts from the African nation of Nigeria last week, valued at more than $110M. The first contract, awarded by DigiQuest of Nigeria, was developed as an exclusive, non-compete, five-year contract, and includes the distribution of navigation solutions marketed as NavPlayer(TM) and RoadNut(TM). In addition to exclusivity in navigation solutions, DigiQuest will also market and sell tracking solutions. The second contract was awarded by LocateIT for over $25M with exclusive rights to market and sell EarthSearch tracking solutions marketed as AutoSearchGPS(TM) and AutoSearchRFID(TM). LocateIT will further purchase navigational devices for their market. Nigeria is the second largest economy in Africa, and with a population of over 140 million, represents the largest consumer population of telecommunications products. As Africa's most populous country, Nigeria's economic profile provides wide ranging opportunities for wireless adaptabilities. The exclusive licensee agreement calls for the transfer of technology, training, marketing support, as well as technical support. Kayode Aladesuyi, Chief Executive Officer and President of EarthSearch, realizes the economies to be gained by such an exclusive licensee agreement. "At EarthSearch, we recognize the enormous potential of GPS-based tracking and navigation technologies in emerging markets," he said. "Both licensees complement our existing strategies in the use of GPS-based and wireless technologies in improving the operational efficiencies and security of businesses as well as meeting the safety and entertainment requirements of the end-users." ABOUT EARTHSEARCH COMMUNICATIONS EarthSearch Communications International, Inc. is a US-based company specializing in GPS-based and wireless solutions. Its operational facilities are located in the United States, Canada and Brazil where, also, its R&D is headquartered. EarthSearch is listed with the Frankfurt Stock Exchange and is currently traded under the symbol 3ES1. Its expertise with GPS technology, combined with exceptional support and service facilities, distinguishes EarthSearch as the leading manufacturer and supplier of GPS technology in the marketplace. Add to DiggBookmark with del.icio.usAdd to Newsvine
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