SAN DIEGO -- Aug. 24, 1999 -- Qualcomm Incorporated (Nasdaq: QCOM) and AUTOTRAC Comercio e Telecomunicacoes S.A. of Brazil today announced the formation of a joint venture to bring the OmniTRACS® mobile information management system to Argentina. This OmniTRACS system will provide two-way satellite-based communications, including real-time Global Positioning System (GPS) monitoring and a satellite communication system to allow the transfer of data to and from a vehicle while in route. The newly formed joint venture has already received contracts from Matlack Roman Transportes (MRT) who will be providing dedicated logistics services in Argentina. MRT anticipates gains in productivity and enhanced driver and cargo security through the use of the OmniTRACS system.
"Argentina is an important market for us," stated Nelson Piquet, president of AUTOTRAC of Brazil and three-time Formula-One world champion. "We intend to apply our expertise to expand the use of OmniTRACS in South America, as well as leverage our knowledge of fleet logistics and cargo security to encourage safe and efficient transportation."
"We are excited about the opportunity to further grow our relationship with AUTOTRAC of Brazil as we expand our worldwide OmniTRACS solution into the Argentine market," said George Mansho, vice president and general manager of international business for Qualcomm Wireless Business Solutions. "Because Argentina is a vital crossroad in the Mercosur countries and a gateway to export goods to the rest of the world, we believe the OmniTRACS advanced mobile communications solution will greatly benefit the Argentine transportation industry."
The OmniTRACS system provides two-way messaging and tracking capabilities to enable Argentine transportation companies to maintain secure real-time communication between control centers and drivers. The system will be combined with the on-board computer (OBC) and integrated software of AUTOTRAC of Brazil to provide extremely reliable truck and cargo protection, an issue of vital importance to many Argentine carriers. The satellite coverage, which will include the greater part of Argentina, will allow seamless border crossing into Brazil, enabling drivers to maintain continuous communications with dispatch during the daily schedule. Qualcomm and AUTOTRAC of Brazil plan to provide high-resolution street level mapping, security, communications and leasing options.
AUTOTRAC of Brazil, which currently distributes Qualcomm's OmniTRACS system under the name, OmniSAT in Brazil, has sold more than 10,000 units since it began offering service in 1994. Leaders in the Brazilian transportation industry who desire rapid communications, reliability, increased productivity and security have come to rely upon the OmniSAT system. By providing integrated logistics and security solutions, AUTOTRAC of Brazil has earned a leadership position in the mobile communications industry.
With more than 290,000 OmniTRACS units sold worldwide, Qualcomm Wireless Business Solutions is the leading provider of mobile communications and information management systems to the transportation industry. Qualcomm currently has systems operating in the United States, Canada, Europe, Russia, Middle East, Mexico, Brazil, Japan, Korea and Malaysia.
Qualcomm Incorporated (www.qualcomm.com) is a leader in developing and delivering innovative digital wireless communications products and services based on the Company's CDMA digital technology. The Company's major business areas include CDMA phones; integrated CDMA chipsets and system software; technology licensing; and satellite-based systems including OmniTRACS and portions of the Globalstar™ system. Headquartered in San Diego, Calif., Qualcomm is included in theS&PIndex and is a FORTUNE 500® company traded on the Nasdaq under the ticker symbol QCOM.
AUTOTRAC of Brazil is headquartered in Brasilia, DF. For more information, please visit the Company's web site at http://www.autotrac.com.br.
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, the Company's ability to successfully manufacture significant quantities of CDMA or other equipment on a timely and profitable basis, and those related to performance guarantees, 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 27, 1998, and most recent Form 10-Q.
Qualcomm and OmniTRACS are registered trademarks and Qualcomm Wireless Business Solutions is a trademark of Qualcomm Incorporated. Globalstar is a trademark of Loral Qualcomm Satellite Services, Incorporated
August 24, 1999August 24, 1999