Versatile Systems Inc.
TSX VENTURE : VV

Versatile Systems Inc.

November 01, 2006 04:00 ET

Versatile and Tyco Electronics Announce Security and Asset Management Solution for Wake Forest University

Panasonic Security Solutions to provide video surveillance

MECHANICSBURG, PENNSYLVANIA--(CCNMatthews - Nov. 1, 2006) - Versatile Systems Inc. (TSX VENTURE:VV) and Tyco Electronics Corporation today announced that they will provide a comprehensive asset management and security solution for Wake Forest University using Tyco Electronics' SyncSeer™ system powered by Versatile's Mobiquity Transaction Engine™ and a suite of intelligent technology and infrastructure products. Panasonic is providing critical intelligent video surveillance solutions.

"It's no surprise that a university that is being recognized this year by CIO Magazine would be one of the first to seek a comprehensive solution in asset management and security," said Charlie Fox, director, global business development of Tyco Electronics' AMP NETCONNECT Business Unit. Mr. Fox continued, "Our strategic alliance with Versatile Systems has put us in a great position to provide a solution for a growing problem in universities across the U.S. - the loss of valuable assets."

Wake Forest University, located in Winston-Salem, North Carolina is ranked highly among the nation's universities for its technology resources. Its ubiquitous environment made it increasingly difficult for administrative personnel to manage and track assets in and around the university, from mobile technology devices to expensive musical instruments.

"It became imperative that we find a way to manage and track our valuable assets and keep the university secure," said Jay Dominick, Assistant Vice President and Chief Information Officer, Wake Forest University, "and so we began to look for companies to work with us who share the same vision we have - a technologically advanced environment that allows us to be safe, remain mobile, and secure our assets."

Tyco Electronics' SyncSeer™ system, powered by Versatile's Mobiquity Transaction Engine™, provides Wake Forest University with the ability to integrate disparate technologies through intelligent data gathering. The SyncSeer™ system provides a centralized management and monitoring solution, allows the development of business specific rules for information gathering and dissemination, and responds automatically to multiple triggers or events.

Wake Forest's new system will include critical intelligent video surveillance that Panasonic Security Systems will provide. Panasonic is a world leader in digital video technology and is known for superior image quality. Panasonic's analog or IP devices make up a video surveillance component of the SyncSeer™ system. This provides security professionals and first responders with the ability to access and control video systems while on the move, providing critical real-time information in the field.

"With SyncSeer™ Wake Forest University now has an intelligent intermediary as a business solution," said Bob Joyce, President of Versatile, "Wake Forest can now affix RFID tags to all of their valuable assets that will track and provide immediate notification if the item is compromised in any way. The SyncSeer™ system is a notification and reporting system that operates on the key data elements that drive business processes, operations and strategic direction."

About Wake Forest University

Founded in 1834 by the Baptist State Convention of North Carolina, Wake Forest has been self-governing since 1986. This institution is distinguished by its small size, a commitment to liberal arts education, a dedication to the values rooted in its religious heritage, and the centrality of the undergraduate College and its mission. For more information: www.wfu.edu.

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 TouchSystems, M/A-COM, Madison Cable, OEG, Potter & Brumfield and Raychem, Schrack and Simel. 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 Panasonic

Panasonic System Solutions Company, Unit of Panasonic Corporation of North America, is a leader in digital video technology that continues to pave the way to an integrated digital networked platform. It's the impetus behind our strategic corporate initiative "we get IT!" - Information Technology and Intelligent Technology. Panasonic's new i-Pro Series IP intelligent and professional products reflect the company's ongoing network initiative and leadership role in the ever-changing security marketplace. Additionally, Panasonic offers a line of systems products to support the large installed base of analog systems including: Super Dynamic III DSP cameras and dome systems, digital video recorders, matrix and sequential switching systems, control software, plasma displays, LCD monitors, lenses, peripheral devices, and iris reader access control and identity management systems. 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, and the hub of Panasonic's U.S. marketing, sales, service and R&D operations. Information about Panasonic and its products is available at: www.panasonic.com.

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
    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