Wi2Wi Announces Full Production with Major Global Leader in Business-Class Fleet Management
August 13 2013 - 8:20AM
Business Wire
Wi2Wi Corporation ("Wi2Wi" or the "Company") (TSX-V: YTY)
is pleased to announce that a leading global fleet management
company with dominant presence at all major airports worldwide is
in full production with Wi2Wi’s WiFi-Bluetooth product. Wi2Wi has
shipped over 120,000 units to-date for the North American and
European fleets of this Marquee customer. The expected initial
phase over the next few years is up to approximately 500,000 units
for their cars, with an upside potential of a total of up to one
million units for the existing fleets worldwide. Wi2Wi products are
embedded as part of an in-dash communications equipment and in-car
technology. In addition, it is expected that recurring annual
revenue will continue as a consequence of new car purchases both
for growing the fleet as well as replacing older cars in the
fleet.
Chief Executive Officer Dr. Reza Ahy stated that, “WiFi and
Bluetooth will be the main means of in-car networking
communications and infotainment, combined with mobile wireless such
as 3G & 4G connecting the car to the network. This constitutes
a multi-billion dollar opportunity for in-car technologies. Wi2Wi
is pleased to be serving our Marquee customer who is a visionary
leader in the fleet management and who leverages innovations and
technology to set the pace for their industry’s major new trends.
WiFi deployment in their fleet initially for in-car technology, is
also aligned with the major trends in the auto industry globally
and IEEE emerging standards for not only in-car networking but also
the emerging real-time vehicle-to-infrastructure and
vehicle-to-vehicle communications including intelligent highway
transportation systems. Wi2Wi’s industrial-class product portfolio
is well-matched to the requirements of these rapidly growing Auto
Industry needs.”
Wi2Wi Chairman Dr. Hans Black stated, “Wi2Wi’s leadership has a
clear vision and understanding of major global technology, markets,
and applications trends. It is gratifying to see Wi2Wi’s products
implemented by an industry leader who is well-known for its quality
and business-class offerings worldwide. Wi2Wi is on track to
further grow its business with this Marquee customer and the auto
industry. I congratulate the Wi2Wi team on this design-win, which
is now in full production and serving a world-class customer.”
In-car WiFi systems are expected to increase significantly by
2017, as automakers increasingly view wireless connectivity as a
key competitive differentiator, according to iSuppli Corp.
Worldwide automotive annual shipments of WiFi systems is expected
to rise to 7.2 million units in 2017. WiFi is also expected to be
an increasingly more significant part of the multi-Billion dollar
Telematics market connecting the car to the infrastructure. The
global Telematics market is expected to grow to over $18 Billion by
2017 according to iSuppli Corp. Wi2Wi expects a significant
percentage of WiFi & WiFi-Bluetooth for these markets to be in
system-in-a-package (SiP) form factor as offered by Wi2Wi.
Wi2Wi is a leader in industrial-class WiFi, WiFi-Bluetooth and
GPS system-in-a-package (SiPs). Wi2Wi focuses on industrial
(including Automotive), medical, infrastructure (including
smart-home/smart building) and government markets worldwide.
Wi2Wi’s products and value-added services provide highly
integrated, multifunctional wireless sub systems as complete
wireless connectivity solutions for the Machine-to-Machine (M2M)
and portable device applications globally.
For further information, please contact:Dr. Reza AhyChief
Executive Officer(408) - 416-4200reza@wi2Wi.com
Forward-Looking Statements: This news release contains certain
forward-looking statements, including management's assessment of
future plans and operations, and the timing thereof, that involve
substantial known and unknown risks and uncertainties, certain of
which are beyond the Company's control. Such risks and
uncertainties include, without limitation, risks associated with
the ability to access sufficient capital from internal and external
sources, the impact of general economic conditions in Canada, the
United States and overseas, industry conditions, reliance on
industry partners, reliance on third party distributors and sales
representatives ,protection of intellectual property and
proprietary rights, reliance on information technology systems
,length of sales cycle, potential defects in products, changes in
laws, increased competition, lack of availability of qualified
personnel or management, fluctuations in foreign exchange or
interest rate and stock market volatility. The Company's actual
results, performance or achievements could differ materially from
those expressed in, or implied by, these forward-looking statements
and, accordingly, no assurances can be given that any of the events
anticipated by the forward-looking statements will transpire or
occur, or if any of them do so, what benefits the Company will
derive there from. Readers are cautioned that the foregoing list of
factors is not exhaustive. Additional information on these and
other factors that could affect the Company’s operations and
financial results are included in reports on file with Canadian
securities regulatory authorities and may be accessed through the
SEDAR website (www.sedar.com).
This news release contains “forward-looking statements” within
the meaning of applicable securities laws relating to, among other
things, certain anticipated financial results, anticipated market
growth and potential corporate developments of the Company. Readers
are cautioned not to place undue reliance on forward-looking
statements. Actual results and developments may differ materially
from those contemplated by these statements. Factors that could
cause actual results to differ materially include, but are not
limited to, changes in Wi2Wi’s business, general business, economic
and competitive uncertainties.
Forward-looking statements are made based on management’s
beliefs, estimates and opinions on the date the statements are made
and the Company undertakes no obligation to update forward-looking
statements and if these beliefs, estimates and opinions or other
circumstances should change, except as required by applicable law.
All subsequent forward-looking statements, whether written or oral,
attributable to the Company or persons acting on its behalf are
expressly qualified in their entirety by these cautionary
statements. Furthermore, the forward looking statements contained
in this news release are made as at the date of this news release
and the Company does not undertake any obligation to update
publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required by applicable securities
laws. Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
To view this press release as a PDF, please click on the
following link: http://www.usetdas.com/pr/wi2wi08132013.pdf
Wi2WiDr. Reza Ahy, 408-416-4200Chief Executive
Officerreza@wi2Wi.com
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