VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 12, 2012) - Webtech Wireless Inc. (TSX:WEW), a leading provider of vehicle fleet location-based services (LBS) and telematics technology, announces that it is considering strategic alternatives with respect to its NextBus operations. Webtech Wireless is undertaking a process to consider the various options to extract value from its NextBus operations, including a possible sale of the NextBus business. Webtech Wireless has retained Raymond James Ltd. as financial advisor to assist Webtech Wireless in reviewing all of its strategic alternatives. Webtech Wireless has not yet made a determination regarding NextBus and will issue another news release once there is a material development.
About Webtech Wireless ®
Webtech Wireless Inc. (TSX:WEW) is a provider of vehicle fleet location-based services (LBS) and telematics technology. It develops, manufactures and supports end-to-end wireless solutions that improve the productivity, profitability, environmental compliance and safety of vehicle fleets. Its comprehensive suite of products and services include: automatic vehicle location (AVL), mapping, vehicle diagnostics, CO2 reporting, navigation, messaging, and mobile resource management. The Company serves customers of all sizes in the transport, government, service, insurance and OEM markets in over forty-one countries, including Fortune 500 companies. Specialized products include: Quadrant® commercial fleet solutions, InterFleet® solutions for government, and NextBus® real-time passenger information services for transit fleets.
About NextBus ®
NextBus, Inc. is the leading provider of SaaS based real-time passenger information systems utilizing proprietary, patented technology that predicts transit vehicle arrival times based upon the transit vehicles' GPS locations. NextBus provides this information to transit agencies and users over the Internet and through interactive voice response, and at electronic signs at transit stations and stops as well as through wireless dissemination of the information. NextBus is based in Emeryville, CA.
For more information, please visit webtechwireless.com.
This news release may contain forward-looking statements involving risks and uncertainties pertaining to, but not limited to, product plans, timing, content, pricing of products, market and industry expectations, the wireless communications and mobile fleet industries, and general economic and political conditions. Given the risks and uncertainties inherent in the markets and industries referred to in this News Release, Webtech Wireless cannot guarantee that any forward-looking statements will be realized. All amounts in Canadian dollars (CAD$) unless otherwise noted. Trademarks are the property of their owners.
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