Wireless Matrix Corporation

Wireless Matrix Corporation

July 09, 2007 08:02 ET

Wireless Matrix Further Accelerates Expanding Mobile Resource Management Application Capabilities With Acquisition of Sapias

Deal Enhances Planning and Execution Functionality of Flagship FleetOutlook Solution; Adds 3,500 Tier-One Subscribers in Cable, Utility, Propane and other Key Verticals

RESTON, VIRGINIA--(Marketwire - July 9, 2007) - Wireless Matrix Corporation (TSX:WRX), a leading provider of Mobile Resource Management (MRM) solutions, today announced that it has acquired select assets and liabilities of San Francisco-based on-demand MRM provider Sapias, Inc., for a total of $2,720,000 in cash ($2,020,000) and stock ($700,000) consideration. The deal builds on the company's 2006 acquisition of MobileAria, further expanding the comprehensive functions and features of its web-based FleetOutlook solution to include real-time planning and execution capabilities.

The deal brings over 3,500 new subscribers from a number of Tier-1 accounts, strengthening Wireless Matrix's position in several significant vertical markets, including the cable, utility and propane industries. It increases Wireless Matrix's total subscriber base to over 50,000 nationwide and adds over two million in projected annual service revenue to the Company's operations. Wireless Matrix will also retain the Sapias application development and support teams to continue to enhance the application suite.

"We will integrate Sapias' proven application technologies for Schedule Adherence, Routing Optimization and Management Dashboards with FleetOutlook, offering customers even greater flexibility and choice in managing their fleet operations," said J. Richard Carlson, President and CEO of Wireless Matrix. "These applications, all available on a hosted, software-as-a service basis, solve operational challenges for fleet operators at a fraction of the cost of previous solutions."

"With Sapias, we dramatically accelerate the continuing execution of our aggressive application strategy," added Carlson. "The Sapias solution suite represents the next generation of FleetOutlook capabilities, offering both existing customers and prospects alike an even deeper MRM application portfolio that is unsurpassed by any other provider."

Wireless Matrix's Mobile Resource Management solutions help businesses optimize field service workforce productivity while enhancing customer service. Delivered on a hosted, Software-as-a-Service (SaaS) basis, FleetOutlook is a comprehensive 360 degrees MRM solution, backed by 24x7 support, which enables the full value chain of dynamic schedule planning and execution. From vehicle mapping, tracking and operational reporting to XML data export and optional telematics monitoring, it offers features that maximize productivity and reduce cost. For more information, visit http://www.wrx-us.com/products/fleetoutlook.html.

Wireless Matrix has scheduled a conference call to begin at 10:00 a.m. EST on Monday, July 9, 2007 to discuss this acquisition of Sapias. The conference call dial-in number is 1-888-293-1205. A replay of the conference call will be available on the Company's website at www.wrx-us.com or by dialing 1-800-633-8284, (Code # 21343663), until 11:59 p.m. EST on July 23, 2007.

About Wireless Matrix

Wireless Matrix provides enterprise-class wireless data solutions for business-critical mobile and remote asset operations. The company delivers real-time data services across cellular, satellite and WiFi networks; a variety of modems and hardware platforms; and transportation applications that increase productivity and reduce operating expenses with service fleet operations. Wireless Matrix is headquartered in Reston, Virginia, and has offices in California and Burnaby, British Columbia. For more information visit www.wrx-us.com.

Forward-Looking Statements

Except for the historical information contained herein, the matters discussed in this press release may contain forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements.

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