Novatel Wireless and NexTraq Sign Supply Agreement for Fleet Management Solution
SAN DIEGO, May 2, 2012 /PRNewswire/ — Novatel Wireless, Inc. (NASDAQ: NVTL), a leading provider of intelligent wireless networking solutions, and NexTraq, the value leader of GPS fleet tracking and vehicle management solutions, today announced that they have signed a supply agreement for mobile tracking devices. Under the agreement, Novatel Wireless will supply its MT 3000 device for NexTraq’s GPS fleet tracking solution.
The Novatel Wireless MT 3000 is a compelling choice for fleet management providers who are looking for productivity improvements and cost reductions for fleet customers. Unlike wired telematics devices, the innovative plug-and-play device with internal antennas removes vehicle installation costs and associated vehicle out-of-service time, thereby lowering total up-front costs.
The MT 3000 is part of the Enfora Mobile Tracking portfolio. The MT 3000 features include GPS location, ignition, geo-fencing, trip reporting and events. It also has built-in threshold events to capture metrics critical to effective fleet and insurance monitoring such as excessive engine speed, rapid acceleration, harsh braking, speed violations, and excessive idling.
The MT 3000 will be a part of NexTraq’s fleet tracking platform offering driver safety and security features that provide customers with a tool to mitigate risk and liability. With Speed Alert functionality, fleet managers know immediately when a driver is speeding or being overly aggressive. NexTraq’s fleet tracking platform also offers insurance telematics solutions with the potential of providing commercial fleet management customers substantial savings to their insurance premiums.
“We’re thrilled to partner with NexTraq on a new approach to fleet tracking solutions,” says Tyson King, VP of Sales for M2M Integrated Solutions, Novatel Wireless. “NexTraq is a pioneer in bringing the benefits of simple install and UBI capabilities to enterprises and fleet managers, and we’re excited to be part of their innovative offering.”
“We are constantly looking for ways to lower the barrier for adopting GPS fleet management solutions,” says Mike Scarbrough, CEO of NexTraq. “Partnering with Novatel Wireless to supply simple-to-install devices allows us to offer a solution with greatly reduced installation costs thereby making it available and affordable to a much wider audience.”
Established in 2000, NexTraq provides the highest value GPS fleet tracking solution in the telematics industry. The NexTraq platform is a cloud-based application that enables service and distribution businesses to optimize fleet operations while reducing operational costs and maximizing revenue. Based in Atlanta, NexTraq customers achieve ROI in as little as one month. For more information, please visit www.nextraq.com.
About Novatel Wireless
Novatel Wireless, Inc. is a leader in the design and development of intelligent wireless solutions based on 2G, 3G and 4G technologies providing wireless connectivity. The company delivers specialized wireless solutions to carriers, distributors, retailers, OEMs and vertical markets worldwide. Product lines include MiFi® Intelligent Mobile Hotspots, Ovation(TM) USB modems, Expedite® embedded modules, Enfora® smart M2M modules, and Enfora integrated M2M solutions. These innovative products provide anywhere, anytime communications solutions for consumers and enterprises. Headquartered in San Diego, California, Novatel Wireless is listed on NASDAQ: NVTL. For more information please visit www.nvtl.com. (NVTLG)
This release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, as amended to date. These forward-looking statements involve risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements contained herein. These factors include risks relating to technological changes, new product introductions, continued acceptance of Novatel Wireless’ products and dependence on intellectual property rights. These factors, as well as other factors that could cause actual results to differ materially, are discussed in more detail in Novatel Wireless’ filings with the United States Securities and Exchange Commission (available at www.sec.gov) and other regulatory agencies.
(C) 2012 Novatel Wireless, Inc. All rights reserved. The Novatel Wireless name and logo and Enfora are trademarks of Novatel Wireless, Inc. Other Company, product or service names mentioned herein are the trademarks of their respective owners.
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William A. Walkowiak, CFA
SOURCE Novatel Wireless