WebTech Wireless Inc.
TSX : WEW

WebTech Wireless Inc.

February 03, 2011 04:01 ET

WebTech Wireless Announces Management Changes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 3, 2011) - WebTech Wireless Inc. (TSX:WEW) ("WebTech Wireless" or the "Company"), a leading provider of vehicle fleet location-based services (LBS) and telematics technology, announces that Owen Moore and Andrew Moore have left the Company. Owen and Andrew Moore were co-founders and the CEO and CTO of Grey Island Systems Inc. (now known as InterFleet Inc.) when that company was acquired by WebTech Wireless in the fall of 2009. The Company is reviewing its obligations under the relevant employment agreements, including the obligation to pay each of them $500,000, related to retention bonuses negotiated as part of the sale of Grey Island, following their departure.

Scott Edmonds, WebTech Wireless' President and Chief Executive Officer commented, "While I have enjoyed working with the Moores for the past fifteen months, it is apparent that in order to complete the integration of the two companies, which is required in order to unlock the value of the combined operations for our shareholders, we need to more closely centralize the management of the businesses carried on by WebTech Wireless and the former Grey Island. We wish Owen and Andrew the best in their future endeavours."

About WebTech Wireless®

WebTech Wireless Inc. (TSX:WEW) is a provider of vehicle fleet location-based services (LBS) and telematics technology. It develops, manufactures and supports end-to-end wireless solutions that improve the productivity, profitability, environmental compliance and safety of vehicle fleets. Its comprehensive suite of products and services include: automatic vehicle location (AVL), mapping, vehicle diagnostics, CO2 reporting, navigation, messaging, and mobile resource management. The Company serves customers of all sizes in the transport, government, service, insurance and OEM markets in over forty-one countries, including Fortune 500 companies. Specialized products include: Quadrant® commercial fleet solutions, InterFleet® solutions for government, and NextBus® real-time passenger information services for transit fleets. For more information, please visit www.webtechwireless.com.

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