SOURCE: NavStar Technologies, Inc.

October 16, 2008 09:15 ET

Strategic Agreement Signed Between NavStar Technologies, Inc. and Tracking Solutions Corporation

NavStar Technologies, Inc. and Tracking Solutions Corp. Agree to Form a Strategic Relationship With the Goal of Dominating the $1.0B Asset Tracking Opportunity in South America

ANAHEIM, CA--(Marketwire - October 16, 2008) - NavStar Technologies, Inc. (PINKSHEETS: NVSR) today announced that it has formed a strategic relationship with Tracking Solutions Corporation (formerly GeoSoft) to jointly support bids for the asset tracking business in South America.

NavStar Technologies, Inc. (NavStar) and Tracking Solutions Corp. (TSC) have common business interests pursuant to the design, development and production of electronic products that make use of the Global Positioning System and wireless communication technology.

NavStar has developed and is manufacturing a line of Location Based Service (LBS) products, focusing primarily on fleet management systems and personal trackers.

TSC has more than 10 years of experience in the GPS fleet tracking industry and is a web application provider of fleet tracking services with a software development structure that provides innovative and low-cost services. TSC provides their current applications to customers in the United States, Canada, Europe, Mexico and South America.

"We're delighted to strengthen and grow our partnership with Tracking Solutions," said N. Douglas Pritt, president and chief executive officer, NavStar Technologies. "There are many synergies between our companies including the value we place on world-class asset tracking solutions and the manufacturing of quality products and services. In addition we believe that this strategic relationship will enable us to dominate the sales of products and services in South America."

"We are thrilled to be working more closely with NavStar, and we believe this strategic agreement represents an opportunity to quadruple our business in South America," said Juan Olano, president and CEO, Tracking Solutions. "NavStar is one of Tracking Solutions' long-standing partners, and we are very pleased to strengthen and expand our relationship."

The revenue opportunity in South America in the next 6 to 9 months is between $15M and $20M.

About NavStar Technologies, Inc.

NavStar Technologies, Inc. is focused on the creation of GPS products and services for asset tracking and hands-free calling with voice navigation.

Contact Information

  • CONTACT:
    NavStar Technologies, Inc.
    Patrick Bannister
    714-502-6900
    Email Contact