Integrated Services Group Signs Letter of Intent with Global Pocket PC Solutions to Acquire the Company as a Wholly Owned Subsidiary
HOUSTON--Feb. 10, 2003--Integrated Services Group Inc. (ISVG) and Global Pocket PC Solutions announced today that they have signed a letter of intent in which Integrated Services Group will acquire Global Pocket PC Solutions. Pursuant to the terms of the proposed transaction, Global Pocket PC Solutions will expand on Integrated Services Group's strategy to provide advanced consumer and industrial products to its GPS tracking and navigational platforms. If the transaction is completed, the acquisition will provide IntraGlobis the advanced direct-to-consumer (DTC) services offered by Global Pocket PC Solutions to market a broad product portfolio combining several top-selling GPS-related packages and accessories including Destinator, Mapopolis, and ProClip. The acquisition is subject to the approval of the Integrated Services Group and Global Pocket PC Solutions boards of directors and government approvals and the satisfaction of other terms and conditions. Additional terms have not been disclosed.
"We are as excited about the fit between the two organizations. We have many opportunities in the GPS tracking and navigations integration area. Our efforts to deliver the latest in precision GPS over cellular for industry grade car makers, cellular sales groups and insurance will be greatly enhanced," said Elizabeth Ferris, chief executive officer of ISG. "It's the people that make this combination a winner. Global Pocket PC Solutions' founder brings expertise and products which will allow us to better service our customers and improve our chances to land OEM supply contracts with some of our large prospective car makers in Brazil. Robert Schindler, the owner and founder, is an engineer who has found a niche for providing value-added GPS products, precision integration and services based on his real life traveling experiences and knowledge from selling and listening to customers in this industry."
"Global Pocket PC Solutions has been a leader in the marketing and support of PowerLOC's Destinator Pocket PC navigational software and has had significant growth over the last three years. Global Pocket PC Solutions signed regional marketing agreements with ProClip USA, the industry leader in quality mounting products, to provide major market growth in the southern U.S. region marketing cellular holders and perfect fit dash mounting solutions, as well as their navigational systems in the automotive dealer market," said Robert Schindler, Global Pocket PC Solutions founder. "We enjoy providing the most comprehensive array of gadgets and vehicle products, accessories and services. We have used the Internet to drive repeat business; however, we felt we were unable to provide our customers with the breadth of product they need. This merger will bring about immediate and direct results. We feel that this is an outstanding combination where tracking integration and navigation meets to make driving safer related to GPS technologies."
"Auto makers and dealers have a tough job. Drivers are challenged by the high price navigation options from the factory. Aftermarket security systems and anti-theft are not easy to justify. Our combined navigational and tracking solution will make things simpler ... vehicles just don't have the room on the dash anymore, and the GPS tracking systems out are not really what we feel should be delivered," added Schindler.
Integrated Service Group Inc. combines technologies that are needed in the delivery of a broad line of GPS and navigational services for use in all types of transportation, ISVG has pioneered innovative systems to take advantage of the latest technologies. Integrated Services Group has a successful track record of identifying and capitalizing on emerging trends through its approach. Integrated Services Group's Web site is located at http://www.iserv.us or http://www.n2epower.com.
The Global Pocket PC Solutions group noted several successful Web sites that the company uses and intends to improve for the marketing of the new products. Here they are --
(http://www.pocketpcnavigations.com) -- offers a variety of GPS products.
(http://www.destinatorUSA.com) -- a dedicated site to a specific package.
(http://www.pocketnav.com) -- a dedicated site to a specific brand package.
In addition, Global Pocket PC Solutions systems and solutions provide many commercial service providers with branded - value added products and services.
This press release contains forward-looking statements. There are certain important factors that could cause actual results to differ materially from those anticipated by the forward-looking statements, including but not limited to the successful completion of the acquisition and integration of Parsons and its operations and the competitive environment and continuing uncertainties in the consumer software industry and in consumer software distribution channels. Additional factors that could affect the future performance of Integrated Services Group are not included.
For more information call the following affiliated contacts: Steve Artz with IntraGlobis and Iserv at 832/279-6350, Robert Schindler with GPS at 832/567-1311. For more information about ProClip contact Margaret Knes at 313/406-3467.