Versatile Systems Inc.
TSX VENTURE : VV

Versatile Systems Inc.

October 12, 2006 13:30 ET

Tyco Electronics Introduces SyncSeer'TM' System; SyncSeer'TM' Powered by Versatile's Mobiquity Transaction Engine

HARRISBURG, PENNSYLVANIA--(CCNMatthews - Oct. 12, 2006) - Versatile Systems Inc. (TSX VENTURE:VV) -

Tyco Electronics Corporation announced today the creation of the SyncSeer™ system, an intelligent, technology infrastructure and information management system comprised of hardware and software for companies in the entertainment, retail, health care, government and education market places.

Tyco Electronics' SyncSeer™ system, the result of a strategic alliance between Tyco Electronics and Versatile Systems Inc., is a modular software system that allows enterprises to derive more business value from new and existing TCP/IP based facilities and business systems. The SyncSeer™ system capitalizes on the rapid expansion of IP base systems being deployed in building systems. By correlating data from previously autonomous solutions, the SyncSeer™ system returns a higher level of understanding of the complex relationships between these systems while managing the decision process from a single interface.

The SyncSeer™ system communicates through adapters that allow easy connection to a number of today's enterprise systems. It enables customers to enhance organizational security of their data and assets by integrating and interpreting data feeds from multiple sources including:

- RFID

- Directory Services

- Identity Management Systems

- Security Systems

- Asset Management Systems

- Financial Systems

- Digital Video Systems

- Building Management Systems

At the core of the intelligent, technology infrastructure management system is Versatile's Mobiquity Transaction Engine™. "Mobiquity™ products have been in use for several years supporting our financial, retail and consumer packaged goods customers," said John Hardy, Chairman and CEO of Versatile. "We look forward to working closely with Tyco in the rapidly expanding Building Management Systems marketplace."

Tyco Electronics' AMP NETCONNECT business unit is ideally positioned to bring an integrated systems solution to the market. "The AMP NETCONNECT business unit is a global leader in delivering infrastructure products and systems," said Alan Clarke, VP AMP NETCONNECT business unit. "Our customers are demanding that we help solve the increasing complexities of network and facilities systems. The SyncSeer™ system brings a new level of understanding and usage of the immense data that our products are already transporting."

About AMP NETCONNECT

The AMP NETCONNECT business unit of Tyco Electronics develops, manufactures, and supplies a comprehensive range of communications infrastructure products and systems for customers in government, education, healthcare, finance, manufacturing and technology markets. Having established itself as the preeminent provider of commercial premises structured cabling systems for optical fiber and twisted-pair copper technologies, Tyco Electronics has broadened its AMP NETCONNECT product portfolio to include a complete line of residential cabling solutions. Coupling this spectrum of industry-standard offerings with its superior customer service, the AMP NETCONNECT business unit is well positioned as a single-source system provider to meet the disparate communications infrastructure needs of commercial and residential customers.

About Tyco Electronics

Tyco Electronics offers a broad range of high quality electronic component products. We offer solutions for OEM applications, utility/energy, outside plant and premise networking installations and more. Products from well-known brand names include connectors/interconnection systems, terminal blocks, relays, electronic modules, circuit protection devices, fiber optic components, wire and cable, switches, wireless components, sensors, printed circuit boards, touch screens and application tooling. We also provide products to insulate, protect, hold, bundle and identify electrical harnesses. And we offer a broad range of integrated building and IT infrastructure products for electrical, structured cabling, security access control, telephony, LAN/WAN networks and audio/visual systems. For more information: www.tycoelectronics.com.

AMP, AMP NETCONNECT, NETCONNECT, SYNCSEER, and TYCO are Trademarks.

(C) 2004-2006 Tyco Electronics Corporation. All Rights Reserved.

About Versatile

Versatile provides business solutions that enable companies to improve sales, marketing and distribution of their products. Versatile also provides information technology services for the implementation, maintenance and security of mission-critical computing environments. Versatile has the ability to architect solutions involving both proprietary and third party components. More information on Versatile can be found at: www.versatile.com.

Forward-Looking Statements

This document may contain forward-looking statements relating to Versatile's operations or to the environment in which it operates, which are based on Versatile's operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or are beyond Versatile's control. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. Versatile disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

(C) 2006 Versatile Systems Inc. All rights reserved.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Versatile Systems Inc.
    John Hardy
    Chairman and CEO
    1-800-262-1633 or International: 001-206-979-6760
    or
    Versatile Systems Inc.
    Fraser Atkinson
    CFO
    1-800-262-1633
    Website: www.versatile.com
    or
    Tyco Electronics
    Bernard DeGree
    (336) 809-9799
    Website: www.tycoelectronics.com