CalAmp Corp. (NASDAQ: CAMP), a leading provider of wireless products, services and solutions, today announced that it has entered into a patent license agreement with Trackn, Inc. dba Enfotrace, a supplier of location based services, for use of CalAmp’s U.S. Patent Nos. 6,025,774 and 6,249,217 B1. The patents relate to a vehicle location system that enables automobile finance companies to locate and repossess vehicles serving as collateral on loans that go into default.
As previously announced, CalAmp had filed complaints for infringement in the United States Federal Court against Trackn that have now been settled. In addition to today’s announcement with Trackn, CalAmp previously entered into patent license agreements with DriveOK Inc., SKYWATCH GPS and Procon, Inc.
“CalAmp remains committed to protecting and enforcing its intellectual property rights and we are pleased to have reached a settlement whereby Trackn will license our patented process technology,” stated Garo Sarkissian, CalAmp’s Vice President for Corporate Development. “We welcome Trackn as CalAmp’s fourth license partner for vehicle tracking and asset recovery technologies and look forward to working together in the future.”
“We are pleased to have resolved this claim in a satisfactory way for both parties, our customers and the industry itself. This agreement allows us to focus energy and effort on growing our respective vehicle tracking and asset recovery businesses,” stated Larry Jones, President, Trackn, Inc.
About CalAmp Corp.
CalAmp provides wireless communications solutions that enable anytime/anywhere access to critical data and content. The Company serves customers in the public safety, industrial monitoring and controls, mobile resource management, public utilities and direct broadcast satellite markets. The Company’s products are marketed under the CalAmp, Dataradio, SmartLink, Aercept, LandCell and Omega trade names. For additional information, please visit www.calamp.com.
About Trackn, Inc., dba Enfotrace
Located in Southern California, Enfotrace has been a supplier of Location Based Services (LBS) for over four years. Since its start, Enfotrace has quickly risen to become one of the industry's leading providers of GPS products to strategic markets such as Sub-Prime Auto Finance, Commercial Fleet, and Consumer. Enfotrace’s goal is to be a leader for GPS tracking products by manufacturing and shipping an economical, high quality product that can meet the needs of multiple vertical markets.
Forward-Looking Statement
Statements in this press release that are not historical in nature are forward-looking statements that involve known and unknown risks and uncertainties. Words such as "may," "will," "expect," "intend," "plan," "believe," "seek," "could," "estimate," "judgment," "targeting," "should," "anticipate," "goal" and variations of these words and similar expressions, are intended to identify forward-looking statements. Actual results could differ materially from those implied by such forward-looking statements. Although CalAmp believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be attained. CalAmp undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
Rick Vitelle, Chief Financial Officer,
805-987-9000
or
Financial Relations Board
Lasse
Glassen, General Information, 213-486-6546
lglassen@frbir.com
