InfoMove Receives Strategic Investment from ComROAD; ComROAD CEO Joins InfoMove Board of Directors as Companies Plan New Telematics Opportunities
18 January 2001
InfoMove Receives Strategic Investment from ComROAD; ComROAD CEO Joins InfoMove Board of Directors as Companies Plan New Telematics Opportunities
KIRKLAND, Wash.--Jan. 18, 2001--InfoMove, the leading developer of personalized, location-based applications and wireless services, and ComROAD AG (Neuer Markt:RD4), the leading provider of telematics networks, have formed a strategic relationship to pursue new telematics opportunities.InfoMove received an investment from ComROAD and named ComROAD CEO Bodo A. Schnabel to the company's board of directors.
"This relationship can bring tremendous benefits to drivers around the world," said Peter Holland, InfoMove president and CEO. "With ComROAD's expertise in Europe, and InfoMove's skill with telematics applications for handheld devices and the Internet, we are raising the bar for the driving experience."
"ComROAD is excited about working with InfoMove to enhance the telematics industry," said Schnabel. "There are great opportunities for establishing telematics standards that will help everyone."
The two companies are working to form a coalition of key industry players to jointly set standards for telematics worldwide. ComROAD currently has created a worldwide network of telematics services installed in more than 30 countries.
About ComROAD AG
ComROAD Aktiengesellschaft, established in 1995, is the worldwide leader for the development and commercialization of telematic networks. Through the integration of globally available technologies such as GPS (Global Positioning System), GSM (Global System Mobilcommunication) and web-based information systems, the company has created a worldwide network of telematics services, already being installed in 30 countries. This includes applications in the telematics sector, such as security monitoring, fleet management, off-board navigation and road assistance, as well as the provision of communication, information and entertainment services for mobile use. Via its headquarters in Unterschleissheim near Munich and further sites in Sarasota, USA, and Hong Kong, China, ComROAD ensures 24/7 operation of telematics control centers in three major world time zones. For the business year 2001, the company, which is listed at the German Stock Exchange (Neuer Markt:RD4), expects a turnover of Euro 85 million.
About InfoMove
InfoMove is the leading developer of personalized, location-based applications and wireless services tailored for use in the automobile. The company integrates driver-specific content and applications and private-labels its services to strategic partners for wireless delivery to consumers through handheld PC's, cellular phones and in-dash car systems. By partnering with leading automotive manufacturers, handheld device manufacturers, Internet portals and wireless carriers, InfoMove is well positioned to deliver unparalleled services to the end user. Drivers and passengers can safely receive localized, personalized information including real-time traffic advisories, audible turn-by-turn directions, vehicle diagnostics, maintenance alerts, emergency services, location-based advertising, and text-to-speech enabled e-mail and Internet content such as news, stocks and weather.
InfoMove was founded in 1998 and is headquartered in Seattle. It has strategic relationships with content providers, automotive manufacturers, technology developers and device manufacturers such as Microsoft, NTT-X, Casio, InfoSpace, Yazaki, PACCAR, ALLDATA, Audible.com and Etak. The company is working with leading automotive and device manufacturers to deliver this unique solution to consumers by early 2001. For more information, visit the company's web site at www.infomove.com.