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USTelematics and Audiovox Ink License Pact
(Wireless News Via Acquire Media NewsEdge)
USTelematics, company creating and deploying proprietary technology for
the delivery of high speed data and entertainment content to private
and commercial vehicles, announced that it is in the process of
finalizing an agreement with Audiovox to manufacture, distribute and
market USTelematics' Voyager Mobile IPTV hardware product, under
Audiovox brand names, at more than 20,000 retail electronics and
automotive channels.
Audiovox is a manufacturer and distributor of mobile electronics and
car audio and video equipment. Its family of brands includes Advent,
Acoustic Research, RCA, Jensen, Phase Linear and others.
"This expected arrangement with Audiovox is the first step toward
significantly accelerating the marketing and distribution of Voyager
into one of the largest and best-established networks of automotive
electronics retailers in the world," said Howard Leventhal, Chief
Executive Officer of USTelematics. "We could not be more pleased with
this development. Not only will it validate our proprietary technology
and product, it will enable us to dramatically magnify our revenues by
providing wireless mobile broadband connectivity and programming
services to Voyager users, on a wider scale and in a much shorter time
period than previously possible."
Leventhal also said, "USTelematics stands to benefit from Audiovox's
established and extensive distribution network, which reaches
approximately 10,000 car dealerships and more than 10,000 other points
of distribution. Having Audiovox make and sell Voyager promises to
reduce the time and funding that would have been required to achieve
the same capability at USTelematics.
"Neither we nor our shareholders could conceive of a more perfect
method of getting straight to the high-margin connectivity and
programming e-services businesses that have been in our sights from the
very beginning.
Subject to remaining due diligence, Audiovox has expressed its
intention to invest a certain amount of cash directly into USTelematics
and to pay a per-unit royalty for rights to the Voyager intellectual
property, software, trade secrets and for manufacturing and
distribution rights.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
((Distributed on behalf of 10Meters via M2 Communications Ltd -
http://www.m2.com))
((10Meters - http://www.10meters.com))
Copyright ? 2008 Wireless News
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