By Webtech Wireless Announces Strategic Review Process for NextBus
Vancouver, British Columbia -January 12, 2011 - Webtech Wireless Inc.(TSX:WEW), a leading provider of vehicle fleet location-based services (LBS) and telematics technology, announces that it is considering strategic alternatives with respect to its NextBus operations. Webtech Wireless is undertaking a process to consider the various options to extract value from its NextBus operations, including a possible sale of the NextBus business. Webtech Wireless has retained Raymond James Ltd. as financial advisor to assist Webtech Wireless in reviewing all of its strategic alternatives. Webtech Wireless has not yet made a determination regarding NextBus and will issue another news release once there is a material development.
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.
About Next Bus®
NextBus, Inc. is the leading provider of SaaS based
real-time passenger information systems utilizing
proprietary, patented technology that predicts transit
vehicle arrival times based upon the transit vehicles'
GPS locations. NextBus provides this information to
transit agencies and users over the Internet and through
interactive voice response, and at electronic signs at
transit stations and stops as well as through wireless
dissemination of the information. NextBus is based in
Emeryville, CA.
For more information, please visit webtechwireless.com or contact
