SOURCE: Wherify Wireless, Inc.

December 05, 2007 09:00 ET

Wherify Wireless Announces Major Manufacturing and Distribution Agreement With SOS GPS Holdings, LLC (SOS)

SAN MATEO, CA--(Marketwire - December 5, 2007) - Wherify Wireless, Inc. (OTCBB: WFYW), a leading developer of patented wireless location solutions and services for GPS enabled devices, today announced it has signed an important manufacturing and distribution agreement with SOS GPS Holdings, LLC. Under the terms of the agreement, SOS will be licensed to manufacture the current version of Wherify's Wherifone GSM-based, GPS locator phone and will be investing in research and development efforts to produce a next-generation version of the product. Additionally, SOS is being granted distribution rights to the current version of the Wherifone product and to future versions of the product to be developed by SOS.

Vince Sheeran, CEO of Wherify Wireless, commented, "This is a significant agreement for Wherifone Wireless and an important milestone on our path toward revenue growth and profitability. This agreement will allow for much wider distribution within the United States and abroad for the current Wherifone product and will ensure that the benefits of our patented technology will be enjoyed by an even larger number of consumers. The relationship will also allow us to accelerate our movement toward an LBS (Location Based Services) service model. Our LBS platform will support a plethora of both GPS and non-GPS mobile devices, enabling mobile applications to quickly and economically deliver location based services to support the wide variety of consumer and enterprise applications being developed for mobile social networking, mobile community search and shopping, personal security, and fleet management. We are very excited about this new relationship and the positive effects we believe it will have on our margins, business operations and ultimate success."

Pursuant to the license agreement SOS may also create future improvements to the Wherifone, which will be jointly owned by Wherify and SOS, and the parties will jointly decide whether to pursue patents for any improvements. In addition, SOS has an exclusive worldwide right to manufacture, distribute and market the improved Wherifone.

Under the license agreement, SOS will pay Wherify a license fee of $1 million. SOS will utilize the Wherify location based services platform for units they sell and pay Wherify a monthly per subscriber fee. The term of the license agreement is five years and may be renewed by SOS for subsequent five year terms for a nominal fee. The license agreement provides that SOS must sell a minimum of 50,000 units per year.

About Wherify Wireless, Inc.

Wherify Wireless, Inc. (OTCBB: WFYW) is a pioneering developer of personal location products and services, as recognized by the Smithsonian Institution Museum's adoption of Wherify Wireless' groundbreaking first product, the Child Locator, into permanent display as the world's first commercial personal GPS tracking device. With three U. S. patents granted in the areas of personal location and position tracking and four more patents pending in the area of GPS locator phones, Wherify Wireless continues to be a leader in location technology development by integrating Aided-GPS location into a GSM cellular platform that has been demonstrated on over 100 GSM networks world-wide. Wherify Wireless' expertise in GPS technology for wireless devices and its patented back-end location service engine enable customers to obtain real-time location information on individuals and property directly through the Internet or any phone. Wherify Wireless was founded in 1998, and is located in San Mateo, California. Additional information about the Wherifone can be seen at www.wherify.com.

About SOS GPS Holdings, LLC

SOS GPS Holdings, LLC, which offers products under the name Satellite Onboard Systems, offers state-of-the-art GPS technology for personal protection and real-time knowledge. Using global positioning satellite technology and the World Wide Web, SOS offers the best solution available for the GPS monitoring of assets. The company's main product is the SOS GPS automotive tracking system, which allows for 24/7 personal and automobile Internet tracking, automatic theft detection, emergency service notification, remote door unlocking and the ability to remotely disable vehicles, via an easy-to-use secure client interface connection across the World Wide Web. The company was founded in 2002 and is located in Austin, Texas. Additional information on SOS GPS Holdings is available at www.sosgpstrac.com.

Note Regarding Forward-Looking Statements

Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," "estimates" and similar expressions) should be considered to be forward-looking statements. There are a number of factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including general conditions in the relevant industries and markets, the impact of competitive products, intellectual property issues and the other factors described in Wherify Wireless' periodic filings with the SEC. The company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

Contact Information

  • Contact:

    Joe Noel
    Wherify Investor Relations
    Tel: 1.925.922.2560
    Email Contact