Versatile Systems Inc.
TSX VENTURE : VV

Versatile Systems Inc.

October 19, 2006 05:00 ET

Versatile and Tyco Electronics Announce Alliance With Panasonic Security Systems

Panasonic Security Systems i-Pro Series Provides Intelligent IP Video Solution

HARRISBURG, PENNSYLVANIA--(CCNMatthews - Oct. 19, 2006) - Versatile Systems Inc. (TSX VENTURE:VV) and Tyco Electronics today announced a strategic alliance with Panasonic Security Systems, a division of Panasonic System Solutions Company, to provide i-Pro Series professional and intelligent IP video surveillance solutions to complement 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 an alliance between Tyco Electronics and Versatile Systems Inc., is a modular software product 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 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.

"Panasonic is pleased to be part of this innovative security solution that leverages the proven performance of our i-Pro Series of video surveillance products designed specifically for advanced networking applications," said Frank DeFina, President of Panasonic System Solutions Company. "We believe the SyncSeer™ system complements our vision for IP based systems on the enterprise level and look forward to working with Tyco Electronics and Versatile Systems to achieve shared business objectives."

Panasonic's i-Pro Series of IP-based products reflects Panasonic Security Systems' ongoing network initiative and leadership role in the rapidly changing security industry. With the industry shifting toward systems unified under the umbrella of IT, i-Pro offers a comprehensive networking solution for security professionals. To help take advantage of the reach and efficiency of digital IP networks, Panasonic i-Pro Series products can be easily incorporated into new and existing installations. This flexibility allows users to utilize existing LANs, WANs, Virtual Private Networks or the Internet to monitor remote locations, without installing stand-alone video networks.

"With an intelligent security solution, companies have a centralized management and monitoring solution and can establish business specific rules for information gathering and dissemination," said Bob Joyce, President of Versatile Systems Inc., "this solution will respond automatically to multiple triggers or events, allowing companies to react instantly when property and assets are compromised."

About Panasonic

Panasonic System Solutions Company, Unit of Panasonic Corporation of North America, is a world leader in analog and IP video surveillance solutions through its Panasonic Security Systems division. Core, cutting-edge technology developments include Super Dynamic III with intelligent camera features, and expanding networking capabilities of the i-Pro Series of intelligent and professional IP products. Based in Secaucus, NJ, Panasonic Corporation of North America is the principal North American subsidiary of Matsushita Electric Industrial Co., Ltd. (NYSE:MC) of Japan. Information about Panasonic Security Systems is available at www.panasonic.com/security.

About Tyco Electronics Corporation

Tyco Electronics Corporation, a business segment of Tyco International Ltd., is the world's largest passive electronic components manufacturer; a leader in cutting-edge wireless components, complete power systems, and premise wiring components and systems; and a provider of critical communications systems to the Land Mobile Radio industry. Tyco Electronics provides advanced technology products from over forty well-known and respected brands, including Agastat, Alcoswitch, AMP, AMP NETCONNECT, Buchanan, CII, CoEv, Critchley, Elcon, Elo TouchSsystems, M/A-COM, Madison Cable, OEG, Potter &Brumfield and Raychem, Sc. 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 computer environments. Versatile has the ability to architect solutions involving both proprietary and third party components. For more information: 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 Corporation
    Bernard DeGree
    (336) 809-9799
    Website: www.tycoelectronics.com