GPS Industries, Inc.
OTC Bulletin Board : GPSN

GPS Industries, Inc.

September 12, 2007 13:02 ET

Update: GPS Industries Signs Binding Agreement to Acquire the Business and Assets of UpLink Corporation

Creating the Largest WiFi Based Management Solutions Company in the Golf Industry Acquisition Triples GPSI Market Share and Media Delivery Network

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 12, 2007) - GPS Industries, Inc. (GPSI) (OTCBB:GPSN), the world's leading provider of WiFi-enabled golf management systems and targeted "direct to the golfer" media today announced the signing of a binding agreement to acquire the Business and Assets of UpLink Corporation. The acquisition expands GPSI's customer network of leading golf courses to over 340. Also included are key intellectual properties, trademarks and patents. Both parties have agreed to immediately operate the business as a 'merged' entity, under the corporate identity and branding of GPS Industries, Inc., with closing expected to occur by October 31, 2007.

Highlights of the Acquisition;

- The transaction is a combination of cash, assumption of certain debt, and the issuance of restricted common shares valued at 12 cents per share.

- GPSI will add Uplink's patented "IQ Link" cart control application to the Inforemer® Golf Management Solution Suite giving the company a significant
competitive advantage.

- GPSI's extensive patent portfolio will now include patents for position-based advertising and onscreen display options on golf courses in addition to the longheld GPS and DGPS patents.

- UpLink executives Glenn Pierce (CEO) and Conrad (Mac) McHugh (President) join GPS Industries management team as Executive Vice President and Vice President of Operations respectively.

- Provides UpLink customers with access to unique revenue programs such as the worldwide patent pending Fire at the Flag hole in one program.

- Expands the narrowcast media network that provides advertisers with "direct to the golfer" access to a targeted audience of more than nine million golfers annually.

Since 1998, UpLink Corporation has developed and marketed GPS golf management solutions. UpLink has been the exclusive GPS partner to Club Car, Inc., a division of Ingersoll-Rand, a Fortune 500 company and the golf industry's leading provider of golf cars and utility vehicles. In 2003, UpLink introduced, and owns the exclusive patent rights to, IQLink™, the first integrated satellite car control and monitoring application.

"IQLink is certainly a compelling feature of UpLink's technology," said GPSI President and CEO, Bob Silzer. "Course operators place tremendous value on the ability to control access to potentially dangerous or environmentally sensitive areas of their property. It has been a key differentiator of the UpLink product and adding this to our technology portfolio fuurthers the advantage our Inforemer® Management System has over others in the market."

UpLink also owns the patents for position-based advertising and onscreen display options to players on golf courses. This valuable Intellectual Property strongly contributed to GPS Industries decision to acquire the Austin, Texas based firm. Earlier this year GPS Industries launched an in-house media sales division to develop the advertising potential of the Inforemer® cart-mount display panels.

"Our 10.4-inch LCD screens are the very best in the industry and represent a natural narrowcast network," adds Silzer. "We recently launched our InforeMedia division to capitalize on this recurring revenue opportunity and we expect UpLink's advertising patents will enhance our ability to assert dominance in this aspect of our business. Obviously, with the acquisition of UpLink's 210 golf courses we have greatly expanded the size of the audience we can deliver to national advertisers, which grows that revenue opportunity exponentially."

Existing customers of both firms will enjoy enhanced 24-7 support as a result of merged international service teams. "Customer service has been a hallmark of both companies," said UpLink CEO Glenn Pierce. "In fact it's one of the shared values that make this a truly synergistic merger. The trust and confidence of our customers is central to the success we have both enjoyed and will be a key factor in continuing the gains we have both achieved."

GPSI's Silzer amplified that statement: "Certainly the quality of our service and support sets us apart in the industry. That is only going to strengthen as we move forward. We also now possess broader, deeper sales coverage in all key markets so our visibility and penetration on every level will be heightened."

"Both companies also have strong relationships with key industry organizations," continued Silzer, "including the National Golf Course Owners Association and the PGA of America. Leading management companies like Troon, Kemper Sports, Disney, Billy Casper Golf and Marriott have chosen our solutions. Our high-standard of service and financial stability have been important factors in their decisions."

Legendary golfer and global entrepreneur Greg Norman enthusiastically supports the acquisition: "As a GPS Industries Investor/Advisor, I am very pleased with the pending acquisition. I believe this will further enhance the ability of course operators to maximize profits and help grow the game around the world."

About GPS Industries (GPSI)

GPS Industries, Inc. (OTCBB:GPSN) is a global technology solutions provider. In the golf industry, the Company's Inforemer® GPS Management System features an integrated Wi-Fi communications network, a comprehensive suite of management tools, and award-winning cart-mounted display units. These display units deliver an enriched playing experience for golfers and a lucrative advertising opportunity for the Company and its client facilities. In the community development vertical, the Company's WiStream™ division implements WiFi coverage for residential communities, creating a wireless 'hot-spot' which supports an unique array of WiFi amenities: wireless internet connectivity, location tracking devices, wireless security protection, VOIP phones, mobile point-of-sale systems, and an interactive real estate sales tool. The Company owns key patents for many important GPS and Differential GPS (DGPS) applications in fifteen countries worldwide, including the United States, Australia, Great Britain and Japan. For additional information, please visit www.gpsindustries.com.

Forward-Looking Statements

Some statements contained in this release may be forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that such forward-looking statements involve risks and uncertainties that may cause the company's actual results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to, the company's ability to generate revenues and other factors as described in the Company's literature and filings with the Securities and Exchange Commission.

Contact Information

  • GPS Industries, Inc.
    Steve Barrett
    CMO
    (604) 576-7442
    Website: www.gpsindustries.com
    or
    Dan Klores Communications
    Jason Geller
    (212) 685-4300