Novatel Wireless Telematics Solutions Lead to Recovery of Stolen Fuel Tankers
January 11 2016 - 08:34AM
Ctrack telematics solutions from Novatel Wireless, Inc.
(NASDAQ:MIFI) recently aided authorities in the recovery of two
fuel tankers valued over $1,000,000 that were stolen in South
Africa. The assets were recovered within hours as a result of the
Ctrack stolen vehicle recovery bundled solution which provides
fleet tracking, asset monitoring and stolen asset recovery
services.
"Ctrack’s industry leading stolen assets recovery rate is over
90%, due to a combination of our advanced technology and
partnerships with law enforcement that aid in the recovery of
stolen goods," said Sue Swenson, CEO of Novatel Wireless. "Security
and peace of mind for customers are at the heart of our business
and this is why our Fortune 500 enterprise customers trust us. Our
Ctrack services have recovered millions of dollars of high-value
assets and provide outstanding ROI for our customers."
BSI Intelligence, a leading U.S. based supply chain consulting
firm, estimated 2015 annual cargo theft at $22 Billion globally.
Criminals employ technology in theft and pirating tactics which has
created a stronger need for telematics applications that protect
and track assets in real-time.
“Cargo theft not only results in significant financial losses
for companies, it has created a dangerous environment for fleet
drivers as tech savvy criminals employ increasingly sophisticated
and violent means to expedite the seizure of high-value products,”
explains Pierre Bruwer, Managing Director of Ctrack. “These latest
recoveries prove that our insights and technology ensure the
protection of our customers’ high-value assets and personnel.”
About Novatel Wireless, Inc.
Novatel Wireless, Inc. (Nasdaq:MIFI) is a leading global
provider of solutions for the Internet of Things (IoT), including
software-as-a-service (SaaS) solutions for the fleet telematics
market. The Company’s product lines include the
CtrackTM fleet and vehicle telematics platform, FW IoT
consulting services, appliances and device management solutions,
along with Novatel Wireless’s MiFi® intelligent mobile
hotspots and modems, embedded modules, mobile tracking
solutions, and asset tracking and monitoring solutions.
These innovative products and solutions provide anywhere,
anytime communications and analytics for consumers and businesses
of all sizes, with approximately 155,000 subscribed fleet vehicles
for Ctrack among the Company’s 510,000 global subscribers.
Novatel Wireless is headquartered in San Diego,
California. http://www.novatelwireless.com. @MiFi
(Twitter)
Cautionary Note Regarding Forward-Looking
Statements
Certain statements in this press release may constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements relate to a variety of matters, including, without
limitation, statements related to the ability of Novatel
Wireless to expand its addressable markets and drive growth in
service revenue and broaden its customer base as a result of the
acquisition of DigiCore, and other statements that are not purely
statements of historical fact. These forward-looking statements are
made on the basis of the current beliefs, expectations and
assumptions of the management of Novatel Wireless and are
subject to significant risks and uncertainty. Investors are
cautioned not to place undue reliance on any such forward-looking
statements. All such forward-looking statements speak only as of
the date they are made, and Novatel Wireless undertakes
no obligation to update or revise these statements, whether as a
result of new information, future events or otherwise. These
forward-looking statements also involve many risks and
uncertainties that may cause actual results to differ materially
from what may be expressed or implied in these forward-looking
statements. For a further discussion of risks and uncertainties
that could cause actual results to differ from those expressed in
these forward-looking statements, as well as risks relating to the
business of Novatel Wireless in general, see the risk
disclosures in the Annual Report on Form 10-K of Novatel
Wireless for the year ended December 31, 2014, and in
other filings made with the SEC by Novatel
Wireless (available at www.sec.gov).
Media ContactAnette Gaven(619)
993-3058agaven@nvtl.com
Investor Relations Contact: Michael Sklansky
(858) 431-0792 msklansky@nvtl.com
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