SkyBitzÂ®, a leader in remote asset tracking and information management solutions, and Iridium Communications Inc. (NASDAQ: IRDM), the only provider of truly global mobile satellite services (MSS), announce a strategic partnership that will position Iridium as the first-ever provider of two-way global MSS for SkyBitz. Through this partnership, the companies are developing a unique, two-way, remote asset tracking and monitoring solution through the integration of SkyBitz Global Locating System (GLS) technology with the recently announced Iridium 9602 satellite data transceiver.
This new Iridium-based SkyBitz solution will feature lower power consumption and a longer battery life than is commercially available today in the global tracking market. This solution will be built around the Iridium 9602, a revolutionary, small, lightweight and low-cost transceiver that enables the worldâ€™s only global, two-way satellite links for low-latency, real-time data transmission. By integrating SkyBitz GLS technology with the Iridium 9602, the companies will create an open architecture and scalable platform that is not restricted to custom mobile terminal hardware.
The combination of the industry-leading SkyBitz GLS technology and the worldwide reach of the Iridium two-way satellite communications network uniquely positions the companies to further penetrate the expanding global machine-to-machine (M2M) market. The new cost-effective solution that SkyBitz and Iridium are building is ideal for markets such as trailer tracking, oil, gas, chemical, rail, cargo shipping and government , where there are requirements for intelligent sensor solutions and power-efficient, two-way communications to deliver critical insights on valuable assets. In addition, these markets require continuous, global in-transit visibility from origin to final destination. According to Strategy Analytics, the mobile M2M communications annual market is estimated to grow from approximately $16 billion in 2008 to more than $57 billion in 2014.
“This partnership provides our existing and prospective subscriber base of several hundred thousand the ability to manage their assets for the first time ever on a global scale anywhere, anytime, ” said Homaira Akbari, president and CEO, SkyBitz. “We are proud to be partnered with Iridium and we are committed to leveraging their unique capabilities for our new global two-way M2M communications solution.”
“Working with SkyBitz has the potential over time to substantially increase our M2M subscriber base,” said Matt Desch, CEO, Iridium. “The adoption by SkyBitz of the new Iridium 9602 further validates Iridium as the platform of choice for global asset tracking.”
The two companies have already co-developed solution prototypes and conducted testing. Upon the new solutionâ€™s commercial availability, SkyBitz plans to offer this as part of its suite of GLS solutions to its customers for their asset tracking needs in both the U.S. and abroad.
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 companyâ€™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 Bethesda, Md., U.S.A. and trades on the NASDAQ Global Market under the ticker symbols IRDM (common stock), IRDMW ($7.00 warrants), IRDMZ ($11.50 warrants) and IRDMU (units).
About SkyBitz, Inc.
SkyBitz is a leader in global remote asset management solutions, providing real-time information on the location and status of assets. More than 600 enterprises rely on SkyBitz technology to achieve total asset visibility, improved security, lower operating and capital expenses, and enhanced customer service. SkyBitz delivers its solution via SkyBitz Insight, a secure web-based application that is fully customizable and requires no software downloads. SkyBitz is a privately held company backed by CIBC Capital Partners, Highstar Capital, Inverness Graham Investments, Motorola Ventures and ITV, a fund of Cordova Ventures. For additional information, visitÂ www.skybitz.com.
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