SOURCE: NavStar Technologies, Inc.

August 05, 2008 08:00 ET

Argo Navigation, Inc. Announces a Merger Agreement With NavStar Technologies, Inc. (NVST)

ANAHEIM, CA--(Marketwire - August 5, 2008) - Argo Navigation, Inc. (www.argonav.com) announced today that a merger agreement has been signed with NavStar Technologies, Inc. (PINKSHEETS: NVST).

This merger is based on synergy between Argo and NavStar. Argo is a location-based system (LBS) company focused on tracking sectors while NavStar is a LBS company focused on navigation sectors. Argo's GPS tracking product portfolio along with NavStar's Voice Navigator will provide an opportunity to sell products to customers in both the consumer and the commercial GPS markets. Argo has sales and distribution experience in the US, Brazil, Ecuador, Venezuela, Canada, Mexico, and China. By expanding the NavStar product line to include Argo's GPS tracking and associated services, new markets will be created as well as new product development opportunities.

"We are very pleased with this merger with NavStar and feel the business model and technology base that NavStar has developed will be exceptionally advantageous to Argo Navigation and its shareholders. We are all excited about our synergies between these two companies, and we are certain that we will be a strong player in fleet management, asset/people tracking, and also in navigation sector," said Mr. Jason Shin, President and CEO, Argo Navigation, Inc.

About Argo Navigation, Inc.

Argo Navigation, Inc. (Argo) is one of the Global Positioning System (GPS) industry's most advanced design and development companies for all GPS and wireless tracking products. As a total solutions provider, Argo is able to deliver hardware, user tracking software and network integration. For over three years Argo has designed, developed and sold its existing products both internationally and domestically.

About NavStar Technologies, Inc.

NavStar Technologies, Inc. is focused on the creation of products and services that combine hands-free calling with GPS/navigation. Product features include the safety of hands-free calling and easy to use navigation via voice input and output, at a very affordable price point.

Contact Information

  • CONTACT:
    Argo Navigation, Inc.
    Patrick Bannister
    714-502-6900
    Email Contact