Tiger Telematics, Inc. Announces a New Joint Venture to Develop the New Advanced Series of Gametrac Products
JACKSONVILLE, Fla., Sept. 30 /PRNewswire-FirstCall/ -- Tiger Telematics Inc. (P.K. TIGR) (www.tigertelematics.com), headquartered here and with offices in the United Kingdom, said its wholly-owned subsidiary Gametrac Europe Ltd, (www.gametrac.com), today announces the commencement of a joint venture development contract with Cambridge, United Kingdom-based technology group, Plextek, (www.plextek.com) as the design authority for the Gametrac Advanced series of products. (Photo: http://www.newscom.com/cgi-bin/prnh/20030930/LNTU012 ) Gametrac is being marketed as the very latest, "lifestyle" product for children between the ages of 7-15. The flagship device is a unique pocket-sized mobile console which brings together a compendium of highly desirable content including: 3D Mophun(TM) Gaming, SMS texting (with predictive text), MP3 music (with remote download), Video playback (MPEG4) and an in-built digital Camera. The product is Bluetooth enabled (for multiplayer gaming) and accessories such as MMC flash cards and Stereo headsets are available. A new MMS content offering will be announced at launch. For parents concerned about their children's whereabouts, an integral GPS chip provides a state-of-the-art tracking facility using technology developed by Qinetiq (a developer of equipment for the UK ministry of defence). A Gametrac device can be tracked via a conventional mobile telephone, the internet (securely), PDA and digital TV. Gametrac utilises the mobile GSM telephone network and the product can potentially operate in more than 140 countries. Mike Carrender, CEO of Tiger states: "Plextek is a developer who has the ability and resource to complement our sales and marketing strategy. Plextek already have a proven track record in communications development and provide to Gametrac a hugely resourceful design engineering team. "Plextek is taking an equity stake in Tiger and the contract has a percentage of sales revenue reverted back to Plextek for future developments." Ian Murphy, Technical Director of Plextek states," We think the Gametrac technology and products are very exciting and believe we can work closely with Tiger to develop advanced versions with commercially attractive technology and features." Our firms track record clearly indicates our ability to provide Tiger with the new design features that they have envisioned." About Tiger: Gametrac is a series of new handheld products about the size of a pager, coming to the market in the U.K. that combines state of the art 3D Mophun(TM) gaming and content, with GPS tracking. The product is aimed at the teenage market with its lifestyle features and will provide parents with peace of mind of knowing where their children are at all times. Tiger is a designer, developer and marketer of mobile telematics systems and services that combine global positioning and voice recognition technology to locate and track vehicles and people down to street level in countries thoughout the world. The systems are designed to operate on GSM and are currently being marketed to GSM current and potential subscribers, primarily by the company's United Kingdom based subsidiaries. About Plextek: Plextek Ltd. is one of the largest independent electronics design consultancies in Europe UK. Established in 1989 Plextek now employ over 100 staff. Plextek design capabilities span the range from design and technology studies through to complete product and system design making use of skills which cover dsp, radio, hardware, software, optoelectronics, fpgas, asic and rfic. we have developed optical telecom and datacom systems, gsm, gprs, dect, 3g pmr, bluetooth and data/telemetry systems, wireless local-loop system and vehicle location systems. For example: -- defence projects, often utilising the benefits of cots -- product and system design on the tracker & lojack networks for stolen vehicle recovery -- formula one motor racing telemetry -- utilities telemetry (radio remote meter reading for gas, water and electricity) -- medical electronic devices -- development of a full feature 2.5g smart phone including tri-band gprs, bluetooth, mp3 player and camera system on a winCE platform. Introduction to manufacture is regarded as a priority and projects regularly include factory selection and design of functional test equipment. plextek is fully equipped with the latest rf and optical test equipment, analysers, software and microprocessor development tools, cad for pcb layout, rf design, digital design and for integrated circuit design and has an open field test site and environmental and emc test chambers. Plextek also offers consultancy in strategic advice and studies. Plextek's international client list ranges from individual entrepreneurs to multinational companies including leading manufacturers, operators and silicon vendors. For further information: www.plextek.com/defence.htm Except for historical matters contained herein, the matters discussed in this press release are forward-looking and are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these forward-looking statements reflect numerous assumptions and involve risks and uncertainties that may affect Tiger Telematics, Inc. and its subsidiary businesses and prospects and cause actual results to differ materially from these forward-looking statements. Among the factors that could cause actual results to differ are Tiger Telematics, Inc.'s operating history; competition; low barriers to entry; reliance on strategic relationships; rapid technological changes; inability to complete transactions on favourable terms; and those risks discussed in the Company's filings with the SEC.
SOURCE Tiger Telematics, Inc.
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