DDS Wireless International Inc.’s Taxi business unit, Digital Dispatch, has entered into an agreement under which Taxi Video Guide Inc. (TVG) will provide paid video media content for DDS’s SmartCabTM mobile media service that is used in 1,200 New York City cabs.
The agreement provides for a potential $1 million in minimum fees to DDS over a 2 year period and further potential fees based on advertising billings achieved by TVG. TVG, a small entrepreneurial company must be approved as a sub-contractor by New York City and the Taxi and Limousine Commission (“TLC”). DDS expects most revenues to be earned in the later stages of the contract as TVG builds up its sales operations in New York.
SmartCabTM consists of an interactive multi-media personal information monitor (PIM) for passengers in the taxi passenger area providing a self serve, secured credit/debit card payment mobile eCommerce facility and offering real time route maps, news, entertainment, and local information. The service is part of New York City’s landmark taxi technology enhancement project to improve the overall passenger experience.
In addition to News, Weather, Sports and Traffic Conditions, taxi passengers will now have at their finger tips TVG’s entertaining, informative and useful City Video Guide. Through their collaboration, TVG & DDS will fulfill what riders have been asking for from the Taxi & Limousine Commission’s focus group survey: helpful information about local restaurants, shops and other entertainment information “that helps them plan their day and get the most value for the money they spend while running around town and taking in the sights of the greatest city in America.”
According to Steven Juliver, President of Digital Dispatch, “With TVG we have found a content solution that targets the many small-to-medium size businesses that are relevant to our ridership’s interests. This is our first breakthrough in the mobile media market and we have several strong interests in other major cities in North America, including from some Canadian cities.”
Joyce Cromarty, President of Taxi Video Guide, said, “We’re thrilled at the opportunity to provide a very affordable opportunity for ‘Small & Medium’ sized businesses to advertise in a medium which has been traditionally only for the ‘big boys’ with deep pockets and healthy budgets.” Cromarty feels it is important to showcase what is relevant to New Yorkers and all the visitors to the city. “This way smaller businesses can stay competitive with the corporate giants without breaking the bank and not to mention, some of the ‘Best’ that NYC has to offer is the little restaurant where Mama is in the kitchen.”
About DDS Wireless International Inc.
DDS Wireless International Inc. is a global leader in providing application software for multiple vertical markets within the transportation industry. The Company specializes in transit routing and scheduling, real-time dispatching, vehicle location and tracking software applications, communications infrastructure as well as in-vehicle wireless devices. DDS Wireless operates four businesses dedicated for Transit, Taxi, Limousines and Work Truck, and Wireless Devices and Communication Infrastructure. The Company supports its customers worldwide through its offices in Canada, Finland, Singapore, Sweden, U.K. and U.S.A.
This press release contains statements which, to the extent that they are not recitations of historical fact, may constitute forward-looking information. Such forward-looking statements may include financial and other projections as well as statements regarding the Company’s future plans, market opportunities, objectives, performance, revenues, growth, profits, operating expenses or the Company’s underlying assumptions. Factors that could cause actual events or results to differ materially from those suggested by these forward-looking statements include, but are not limited to: the need to develop, integrate and deploy applications to meet our customer’s requirements; the possibility of development or deployment difficulties or delays; the dependence on our customer’s satisfaction with DDS Wireless’ products; the timing of entering into significant contracts; our customers’ continued commitment to the deployment of our solutions; the risks involved in developing integrated software and hardware solutions and integrating them with third-party communication and other services; the performance of the global economy and growth in software industry sales; market acceptance of the company’s products and services; customer and industry analyst perception of the company and its technology vision and future prospects; the success of certain business combinations engaged in by the Company or by competitors; political unrest or acts of war; possible disruptive effects of organizational or personnel changes; technological change, new products and standards; risks related to acquisitions and international expansion; reliance on large customers; concentration of sales; international operations and sales; management of growth and expansion; dependence upon key personnel and hiring; reliance on a limited number of suppliers; industry growth; competition; intellectual property; product defects and product liability; currency exchange rate risk; concentration of ownership; and including but not limited to other factors described in DDS Wireless’ reports filed on Sedar, including its Annual Information Form and financial report for the year ended December 31, 2008.
In drawing a conclusion or making a forecast or projection set out in the forward-looking information, the Company takes into account the following material factors and assumptions in addition to the above factors the Company’s ability to execute on its business plan; the acceptance of the Company’s products and services by its customers; the timing of execution of outstanding or potential customer contracts by the Company; the sales opportunities available to the Company; the Company’s subjective assessment of the likelihood of success of a sales lead or opportunity; the Company’s historic ability to generate sales leads or opportunities; and that sales will be completed at or above the Company’s estimated margins. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. All forward-looking statements made in this press release are qualified by this cautionary statement and there can be no assurance that actual results or developments anticipated by the Company will be realized. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
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DDS Wireless International Inc.
Jim Zadra, CA