Peak Positioning Corporation

Peak Positioning Corporation

September 06, 2011 18:01 ET

Peak Positioning and LongKey Sign Application Framework Development Agreement

MONTREAL, QUEBEC--(Marketwire - Sept. 6, 2011) - Peak Positioning Technologies Inc. (TSX VENTURE:PKK) ("the Company"), is pleased to announce that its wholly owned subsidiary, Peak Positioning Corporation ("Peak"), has entered into a new agreement with LongKey Software Technology ("LongKey"). This new agreement covers the redesign and co-development of LongKey's application framework which currently supports and facilitates LongKey's business management applications.

This new agreement has been signed following the successful completion of the integration of Peak's applications into version 2.5 of LongKey's business management applications, which are supported by LongKey's existing application framework. It should be noted that the redesign and development of the application framework will not affect the planned roll-out of version 2.5 of LongKey's business management applications, which is still scheduled for September 2011.

The new application framework will, among other things, allow for automation of the updating of forms and interfaces of LongKey's mobile applications, allow for automatic logon of mobile devices to the wireless network immediately when powered on, and allow for wireless synchronization of information between mobile devices and information available on specified servers on the network. The new application framework is also intended to remove certain constrains associated the current application framework and allow LongKey to significantly increase its capacity to rapidly sign up and support users of its mobile applications.

"In addition to vastly improving our existing business management mobile applications, the new framework to be co-developed with Peak will also open the door for LongKey to develop a number of new applications for our telecom partners. We are already in negotiations with our telecom partners to develop more than a dozen new industry-specific applications based on the new framework", said Golden Qiu, CTO of LongKey.

"We were very excited when LongKey approached us to be a part of the development of their new application framework. This new agreement takes our partnership with LongKey to the next level, with regards to both technology and business. From a technology standpoint, working with LongKey at the application framework level means an even tighter integration of our companies' technologies. It also opens the door to a world of possibilities in terms of addressing our clients' needs for new applications and functionalities. From a business standpoint, because the new application framework, which Peak will now co-develop, will reach every application produced by LongKey, including the new applications to be produced for LongKey's telecom partners, Peak will now share in the revenues generated by all of LongKey's applications", said Johnson Joseph, president and CEO of Peak.

The design and development of the new applications framework were initiated in late August 2011. The parties are currently working on a timetable for its completion.

About Peak Positioning Technologies Inc.

Peak Positioning Technologies Inc. is a Tier 2 Technology Issuer whose common shares trade on the TSX Venture Exchange under the symbol: PKK ("Peak Tech"). Peak Tech owns 100% of the shares of Peak Positioning Corporation, which itself is an information technology solution provider, and creator of the HomeWave solution. HomeWave is a client-server-based, wireless remote security, forensic analysis and asset location service for mobile computing devices. The solution provides a way for businesses to use wireless communications to remotely disable and locate lost or stolen mobile computing devices, as well as to remotely determine what files, if any, were accessed on the missing devices.

About LongKey Software Technology Limited

LongKey Software Technology Ltd is a joint-venture company between the municipal government of the city of Wuxi, China and private investors. Fully utilizing the most advanced internet technology, LongKey provides a wide range of IT solutions such as web hosting, e-government, e-commerce, customer relationship management, enterprise resource planning, network management, and payroll processing through its "Online Business Application Marketplace". In addition to its web-based services, LongKey also provides its business clientele with application development and help desk outsourcing services.

Forward-Looking Statements / Information

This news release may include certain forward-looking information, including statements relating to business and operating strategies, plans and prospects, using words including "anticipate", "believe", "could", "expect", "intend", "may", "plan", "potential", "project", "seek", "should", "will", "would" and similar expressions, which are intended to identify a number of these forward-looking statements. Forward- looking information reflects current views with respect to current events and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions. The Company undertakes no obligation to publicly update or review any forward-looking information contained in this news release, except as may be required by applicable laws, rules and regulations. Readers are urged to consider these factors carefully in evaluating any forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Peak Positioning Technologies Inc.
    Johnson Joseph
    President and CEO
    514-340-7775 ext.: 501
    514-340-2228 (FAX)

    CHF Investor Relations
    Anne Robert
    Account Manager
    514-510-6338 or Cell: 514-826-8121