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ORBCOMM Announces Application Development Agreement with VeriChip Corporation
FORT LEE, N.J. --(Business Wire)-- Dec. 15, 2004 -- Companies Will Jointly Develop and Market Innovative Military, Security and Healthcare Applications for VeriChip(TM), the World's First Implantable Microchip
ORBCOMM, a global satellite telecommunications company, today announced that it has executed an agreement with VeriChip(TM) Corporation, a subsidiary of Applied Digital (NASDAQ:ADSX), to be its provider of satellite and telecommunication services for applications to be developed for use with the world's first implantable radio frequency identification (RFID) microchip, also called VeriChip(TM).
Under the terms of the agreement, the companies will also work together to develop and market new military, security, and healthcare applications for use in the United States and around the world.
VeriChip(TM) Corporation is a wholly owned subsidiary of Applied Digital. The VeriChip product is a subdermal RFID microtransponder that can be used in a variety of security, financial, emergency identification and healthcare applications. About the size of a grain of rice, each VeriChip Device contains a unique verification number that is captured by briefly passing a proprietary scanner over the VeriChip. In October 2004, the U.S. Food and Drug Administration (FDA) cleared VeriChip for medical applications in the United States. VeriChip is not a FDA-regulated device with regards to its security, financial, personal identification/safety applications.
"ORBCOMM's relationship with VeriChip(TM) provides yet another new and important industry that will use the ORBCOMM satellite system and its ground infrastructure network to transmit messages globally," Jerry Eisenberg, CEO of ORBCOMM, said.
About ORBCOMM
ORBCOMM is a wireless telecommunications company that provides reliable, cost effective data communications services to customers around the world through its unique low-earth orbit (LEO) satellite network and global ground infrastructure. A diverse customer base, including industry leaders General Electric, Caterpillar Inc., Volvo Trucks, XATA, and AirIQ, uses ORBCOMM services to track, monitor and control mobile and fixed assets including trucks, containers, marine vessels, locomotives, heavy machinery, pipelines, oil wells, utility meters and storage tanks anywhere in the world. For more information call 1-800-ORBCOMM or visit its Web site at www.ORBCOMM.com.
About Applied Digital
Applied Digital develops innovative security products for consumer, commercial and government sectors worldwide. Its unique and often proprietary products provide security for people, animals, the food supply, government/military arena and commercial assets. Included in this diversified product line are RFID applications, end-to-end food safety systems, GPS/Satellite communications and telecomm and security infrastructure, positioning Applied Digital as the leader of Security Through Innovation. Applied Digital is the owner of a majority position in Digital Angel Corporation (AMEX: DOC). For more information, visit the company's website at http://www.adsx.com.
This release contains forward-looking statements, including statements regarding ORBCOMM's expected commercial operations. These forward-looking statements are based on a number of assumptions and ORBCOMM's actual results and operations may be materially different from those expressed or implied by such statements.
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