23rd May 2006 07:01
Trakm8 Holdings PLC23 May 2006 Embargoed until 7am 23 May 2006 TRAKM8 HOLDINGS PLC ("Trakm8" or "the Group") Mutual Cooperation Agreement Trakm8 Holdings Plc (Trakm8), the AIM listed designer and developer of licensedGPRS based hardware and software for the vehicle placement and security market,and Punch International NV (Punch), the diversified technology group listed onthe Euronext exchange and headquartered in Belgium, are pleased to announce amutual cooperation agreement. Punch owns a number of subsidiaries that operate under the name Punch Telematix,manufacturing and selling software, firmware, hardware and complete telematicssystems to equipment manufacturers and end customers throughout Europe. The objective of the agreement will be to seek competitive advantages within thetelematics markets in the UK, US, South Africa and Europe. The Boards of Trakm8and Punch expect to develop combined sales and marketing drive as well asinitiatives to share technology and knowledge. Important synergies that exist between the two companies will be cultivated bythe pooling of resources. Key areas of cooperation include: * Marketing of the products of both companies within the respective territories * Development of a new STREAM software interface to accommodate the hardware of both parties * Joint R&D initiatives to identify and eliminate redundant or duplicate technologies and functionality * Joint ownership of any new IPR (intellectual property rights) as a result of these R&D activities * Combined purchasing power to achieve manufacturing cost savings * Support and resources from either party during a major new contract bid situation This agreement improves the competitive positioning of both companies and opensthe door to future collaboration in developing new products and services for asyet untapped markets. Both companies view this agreement as a first step towardsthis goal. Cary Knapton, CEO of Trakm8, commented, "This is an important step in thedevelopment of Trakm8 and one which we hope will see us become one of theleading telematics companies in the world. The combined know-how, productportfolios and territorial reach means we will be able to compete in areas wewere unable to, prior to the agreement. "We believe Punch will bring important synergies to Trakm8 and look forward to asuccessful working relationship with them." Luc Lammens, CEO of Punch Telematix, stated, "This agreement not only expands the geographical coverage of our commercial activities but also increases the scale, and therefore the efficiency of, our joint R&D efforts. It will strengthen our position as one of the European market leaders and creates significant opportunities for future growth." Wim Deblauwe, CFO of Punch, concluded, "We are pleased to join forces withTrakm8. This agreement is another milestone in the global roll out of ourtelematics cluster and one which is equally beneficial to both partiesinvolved." -ends- For further information please contact: Trakm8 Holdings plc +44 (0)1747 858 444Cary Knapton, Chief Executive OfficerTim Couling, Finance Director Punch InternationalWim Deblauwe, Chief Financial Officer +32 (0)9 243 48 40 Tavistock Communications +44 (0)20 7920 3150Christian Taylor-Wilkinson About Trakm8Trakm8 is a leading technology provider to the vehicle tracking and securitymarket, based in Dorset in Southern England. The Company provides its hardwareand software worldwide through distributors that allows vehicles and drivers tobe monitored, to allow companies to manage deliveries and services, or trackstolen vehicles down to 5 metres. For further information please go to:www.trakm8.com About Punch InternationalPunch is a knowledge and technology provider 'par excellence', empowering allthe companies within its group to create new technology that is marketable andprofitable. Punch will apply all its knowledge and experience, and use itsfinancial assets to help leverage potentially successful technology towards ahigher level of maturity. Punch strives to meet its customers' quality, costs,delivery and service demands with total solutions and empowers its clients toreach and surpass their goals and to establish a sustainable competitiveadvantage within their markets and gain market share. This approach enablesPunch to continuously increase added value for its stakeholders: partners,shareholders, clients, suppliers, and society. Punch is listed on Euronext Brussels and is part of the NextPrime index. All press releases and other information are available online atwww.punchinternational.com and www.euronext.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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