Qualcomm Incorporated (NASDAQ: QCOM), a global leader in mobile communications for the transportation industry, today announced it has purchased the assets of NAVTEK Corporation, a wireless data software company headquartered in the Washington, D.C. area. NAVTEK's workforce, including engineering, administration and management, will join Qualcomm's OmniTRACS Division and will remain in the Washington,D.C area as an East Coast development center for OmniTRACS Software Products.
"This acquisition dovetails nicely with our growth objectives and new product initiatives, enabling us to add employees with top-notch engineering talent, international backgrounds and industry experience," said Chris Wolfe, vice president of OmniTRACS Operation and Software Products.
"We look forward to joining the Qualcomm team," said Tony Ioannidis, founder of NAVTEK and now director of Product Development for Qualcomm's OmniTRACS Division. "There is a great synergy between the two companies. We are both committed to delivering leading-edge technology to thetransportation industry."
NAVTEK has been in the business of developing wireless data software solutions for over nine years. Their maritime and trucking products have been marketed and installed domestically and around the globe. There are currently about 4,000 users operating NAVTEK's METCOM software, and more than 180 customers running NAVTEK's FLEETMAN product. Qualcomm has acquired the rights to METCOM, FLEETMAN, Global Earth Station products and NAVTEK's high quality mapping engine.
With over 230,000 OmniTRACS units sold worldwide, Qualcomm is the leader in providing mobile communications and information management systems to the transportation industry. Qualcomm currently has systems operating in the United States, Canada, Europe, Russia, Middle East, Brazil, Mexico, Japan, Korea and Malaysia.
Qualcomm plans to keep NAVTEK's Washington, D.C. area office open, which underscores its commitment to the Washington, D.C. business community. The office will become Qualcomm's East Coast development site for OmniTRACS Software Products.
Headquartered in Bethesda, Md., NAVTEK Corporation has been a leading international provider of software, systems and turnkey solutions for global satellite fleet tracking, fleet management and Computer Aided Dispatch (CAD) for the trucking and marine transport industries in the U.S., Canada, Latin America, Europe and the Pacific Rim. As a provider of wireless mobile data communications and integrated systems, NAVTEK specialized in the development of software applications and communications services that increase fleet operational efficiencies.
Headquartered in San Diego, Qualcomm develops, manufactures, markets, licenses and operates advanced communications systems and products based on its proprietary digital wireless technologies. The Company's primary product areas are the OmniTRACS products, CDMA wireless communications systems and products and, in conjunction with others, the development of the Globalstar™ low-earth-orbit (LEO) satellite communications system. Other Company products include the Eudora Pro® electronic mail software, ASIC products, and communications equipment and systems for government and commercial customers worldwide. For more information on Qualcomm products and technologies, please visit the Company's web site at http://www.qualcomm.com/.
Except for the historical information contained herein, this news release contains forward-looking statements that are subject to risks and uncertainties, including timely product development, change in economic conditions of the various markets the Company serves, as well as the other risks detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended September 28, 1997 and most recent Form 10-Q.
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