Xact Technology Partners With Iridium to Offer Satellite Connectivity
NEW YORK, Jan. 20, 2011 /PRNewswire/ — Xact Technology, LLC, a DMC Capital Funding, LLC portfolio company, today announced that it has partnered with Iridium Communications Inc. (Nasdaq: IRDM) as an Iridium Value-Added Reseller (VAR) and will develop a dual-mode cellular/satellite GPS tracking and machine-to-machine (M2M) communication device that will work anywhere in the world. The dual-mode device will use least-cost routing software to route time-critical data through local cellular systems or the Iridium global satellite network in the most cost-effective manner.
Xact’s platform includes hardware, software, cellular and satellite data networks and user-interface portals. Xact will incorporate Iridium’s 9602 Short Burst Data (SBD) Transceiver with its eight-layer Xact Development Board which integrates a 50-channel GPS engine, quad-band wireless microprocessor, onboard flash memory, 3D multi-axis accelerometer and multiple input/output ports. The Board’s open-architecture easily allows sensors to be added to monitor temperature, humidity and other environmental and security conditions, along with location of critical assets.
“We are excited to expand our platform to include Iridium’s global satellite network. Iridium offers our platform complete real time global coverage,” said Xact Technology’s Michael G. Levine. “The value proposition of the dual-mode offering allows customers to get data coverage anytime and anywhere in the world, leveraging our partners’ local terrestrial cellular rates when available.”
In addition to high quality devices and global data network coverage, the Xact platform offers several portals to view and analyze data. Customers have a variety of options for viewing and using data thanks to several tailored user interfaces including logistics portals and highly integrated portals for fleet management, usage-based insurance, telemedicine, smart grid, and security applications.
“Xact has the capability to build high quality tracking devices in large scale that in turn will lead to lower price points for these dual-mode devices,” said Patrick Shay, vice president and general manager of Data Services for Iridium. “With Iridium’s reliable, global, low-latency short-burst data links and Xact’s open-architecture platform, we see this as the perfect solution for offshore energy and global logistics companies, as well as anyone who needs asset tracking and mission critical M2M data in remote regions.”
About Xact Technology, LLC
Xact Technology is a leading solutions provider (hardware, software, network and portal) for the GPS tracking, Location-Based Services (LBS) and Machine-to-Machine (M2M) industries. Xact’s open-architecture platform offers end-to-end solutions in less time and with lower cost. Xact Technology is a DMC Capital Funding portfolio company. For more information about Xact, visit www.xacttechnology.com.
About DMC Capital Funding, LLC
DMC Capital Funding is a privately held growth equity firm, serving companies in the consumer and enterprise technology sectors. Beyond capital, DMC Capital Funding brings to its investments wide-ranging experience, deep industry expertise, and an assortment of value-added business services. Founded on a 50-year heritage in technology, product development, marketing, sales, and financing, DMC Capital Funding makes private equity investments work better. DMC Capital Funding is a part of the DMC group of companies. For more information, call 212.779.8400 or visit www.dmccapitalfunding.com.
About Iridium Communications Inc.
Iridium Communications Inc. (www.iridium.com) is the only mobile satellite service (MSS) company offering coverage over the entire globe. The Iridium constellation of low-Earth orbiting (LEO) cross-linked satellites provides critical voice and data services for areas not served by terrestrial communication networks. Iridium serves commercial markets through a worldwide network of distributors, and provides services to the U.S. Department of Defense and other U.S. and international government agencies. The company’s customers represent a broad spectrum of industry, including maritime, aeronautical, government/defense, public safety, utilities, oil/gas, mining, forestry, heavy equipment and transportation. Iridium has launched a major development program for its next-generation satellite constellation, Iridium NEXT. The company is headquartered in McLean, Va., U.S.A. and trades on the NASDAQ Global Select Market under the ticker symbols IRDM (common stock), IRDMW ($7.00 warrants), IRDMZ ($11.50 warrants) and IRDMU (units).
Contact: Michael G. Levine Xact Technology 212.448.7641 email@example.com
SOURCE Xact Technology, LLC