Press Release 2001
August 1, 2001 - AirIQ to merge with eDispatch
- Strong synergies will build a global leader in mobile resource management
TORONTO, ONTARIO, August 1, 2001 -- AirIQ Inc., a wireless application
service provider specializing in mobile asset management solutions, today
announced an agreement to merge with eDispatch.com Wireless Data Inc.
(TSE:EWD), a wireless application service provider specializing in mobile
workforce management solutions.
Pickering, Ontario-based AirIQ developed and markets a technologically
advanced location information service for the efficient management of mobile
assets, including the location and tracking of commercial transport fleets
and rental vehicles. Vancouver, B.C.-based eDispatch developed and markets a
technologically advanced dispatch product for the efficient management of
mobile workforces. Together, the companies will offer a broader range of
complementary solutions and linked services with the goal of becoming a
world leader in mobile resource management.
"By combining eDispatch and AirIQ, we are creating a dynamic technology and
marketing leader in mobile resource management, and building a platform for
accelerated revenue growth," said Donald E. Simmonds, President and CEO of
AirIQ. "Not only are mobile workers and vehicle fleets the largest and most
important investments for enterprises with a mobile workforce, but they also
are the most challenging to manage. Now customers will have an even more
powerful set of tools to manage these resources."
"Over the last seven months we have looked at a great many merger opportunities and have concluded that the proposed transaction with the
AirIQ people offers a unique opportunity to maximize future shareholder
value," said Peter Bradshaw, Chairman and CEO of eDispatch. "The combination
of AirIQ's asset management services and eDispatch's expertise in dispatching the mobile worker offers to the management of today's mobile
workforce a proven, cost-effective 'total' solution. AirIQ's depth of management, proven sales, marketing expertise and meaningful revenues should
be of great comfort to my fellow shareholders as they are to me."
Don Simmonds will become the President and CEO of the combined company. Mr.
Simmonds has a long history of business leadership within the Lenbrook group
of companies as one of its founding shareholders. Lenbrook, controlled by
the Simmonds family, is a highly successful electronics company that created
the Canadian wireless network Clearnet, which was sold recently to Telus
Corporation in a multi-billion dollar transaction.
Peter Bradshaw, Chairman and CEO of eDispatch, will remain as the Chairman
of the reconstituted board, which will consist of an equal number of current
eDispatch directors and AirIQ nominees.
AirIQ offers telematics solutions that combine on-board computing, global
positioning system (GPS), digital maps and a wireless transceiver to provide
fleet managers with a wealth of information about their vehicles via the
Internet. AirIQ's services include vehicle location, boundary notification,
automated inventory, maintenance reminders, security alerts and remote
vehicle disabling. eDispatch products enable clients to send detailed job
information directly to and from any PC via the Internet to the display of
their mobile workers' portable wireless device. The products are marketed as
bundled wireless solutions to subscribers of wireless data providers.
The new enterprise will leverage complementary business models to increase
shareholder value. Both companies are organized on a recurring revenue model
and both offer solutions as wireless Internet application service providers
(ASPs). Combining the technical, customer support and administrative
resources of both companies will result in immediate operational synergies.
In addition, sales and marketing costs will be spread over a higher revenue
Based in Pickering, near Toronto, Canada, AirIQ is an application service
provider specializing in wireless fleet management for vehicles. Using
telematics, or the wireless transmission of location-based information and
control messages to and from vehicles, AirIQ helps its clients locate and
manage their vehicle fleets. AirIQ offers complete end-to-end fleet management solutions to commercial transport fleets, rental vehicle and
lease fleets, bus fleet operators and heavy equipment owners. The AirIQ
solution is a marriage of five advanced technologies: Internet, wireless
communications, global positioning system (GPS) technology, digitized mapping (GIS) and computing. AirIQ was formed in 1997 as a partnership among
three high-technology leaders: Bell Mobility, Lenbrook Inc. and Veridian
For more information: Visit AirIQ at www.airiq.com.
Mobileinfo Comments and Advisory:
Consolidation is a strong trend. We welcome this marriage and
think it will improve chances of survival for both companies..
Note: This news release may contain
forward-looking statements. Readers should take appropriate caution in
developing plans utilizing these products, services and technology
architectures. All trademarks used in this summary are
the property of their respective owners.