|By Marketwired .||
|November 20, 2012 08:00 AM EST||
RICHMOND, BRITISH COLUMBIA -- (Marketwire) -- 11/20/12 -- DDS Wireless International Inc. ("DDS" or "the Company") (TSX:DD) announced today that its Taxi business unit, Digital Dispatch Systems, has signed a significant contract, among others, with a prestigious taxi company in California for $0.6 million for the sale of the DDS flagship product, the Vector 9000(TM). In addition, its Finnish company MobiSoft Oy signed a key contract for the sale of Vector 9000(TM) for a value of $0.2 million.
"I am very pleased with this indication of adoption by the Finnish taxi market of our mobile data computers. We have been in the Finnish market for four years as a result of the acquisition of MobiSoft Oy in 2007 and to date the deployment of our TaxiBook SaaS offering has predominately been on PDAs," said Vari Ghai, CEO of DDS Wireless. "In the second half of this year we launched an initiative to introduce our mobile data terminals into this market and we are receiving strong early indicators of success," continued Mr. Ghai.
Furthermore, Digital Dispatch announced that it continues to extend its reach through business partners in the area of mobile booking applications, with a recently signed contract to provide a mobile taxi application provider with enhanced access to the DDS dispatching algorithm.
DDS anticipates that $0.7 million of the above noted contract signings will be recognized as revenue in fiscal 2012.
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 three businesses dedicated for Taxi, Transit and New Markets such as Limousines, Airport Shuttles and Work fleets. The Company supports its customers worldwide through its offices in Canada, Finland, Singapore, Sweden, U.K. and U.S.A.
This press release may contain forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, operations, anticipated financial performance, business prospects and strategies, statements about future market conditions, supply and demand conditions, revenues, gross margins, operating expenses, profits, and other expectations, intentions, and plans contained in this press release that are not historical facts. Such forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors which could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, business risks, changes in market and competition, technological and competitive developments and potential downturns in economic conditions generally. Given these risks and uncertainties DDS Wireless cannot guarantee that any forward looking statements will be realized.
DDS Wireless International Inc.
(604) 241 1441
DDS Wireless International Inc.
Caroline J. Dunn
Chief Financial Officer
(604) 214 7206
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