Press Release Source: GPS Industries Inc.
GPS Industries Acquires Key North American Global Positioning Patents for Next-Generation Golf Course Applications
Monday November 29, 9:01 am ET
Latest Acquisition Sharply Expands Company's Patent Licensing Revenue From All Major Markets in the Worldwide Golf Industry
SARASOTA, Fla.--(BUSINESS WIRE)--Nov. 29, 2004-- GPS Industries Inc. (OTCBB:GPSN - News; Frankfurt WKN#:252179), a leading innovator of Wi-Fi wireless and GPS-enabled multimedia communications and management solutions for resorts, sporting events and residential communities, announced that it has acquired three key patents for Global Positioning System (GPS)-based golf applications in North America. North America is the world's largest golf market with more than 20,000 courses. The announcement was made by Robert Silzer, Sr., President and CEO of GPS Industries (GPSI).
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The acquisition of the North American patents wins the Company control of the most essential set of patents for all major markets in the worldwide golf marketplace, estimated at $38 billion. GPSI had previously acquired the Differential GPS (DGPS) patents for golf and other industries in 13 other countries, including 11 European nations, Australia and Japan.
The three acquired North American patents include the well-recognized '093 patent and cover a broad application of DGPS and GPS technology to enable a number of key golf course applications, such as the precise, real-time measurement of the distance of the ball to the pin. The coverage includes both golf course and personal GPS golf systems and extends to any device developed for other purposes, such as Personal Digital Assistants (PDAs), when using GPS on a golf course.
The patents, a centerpiece of GPSI's acquisition of Optimal Golf Solutions, LLC, already generate material revenue, and will provide an expanded revenue stream through future licensing of the patents in golf's largest market. All existing and future competitors that use GPS technology on a golf course will need to pay GPSI licensing fees to operate in North America as well as the 13 other countries where the Company owns the patents.
"Our acquisition of these patents greatly enhances our ability to generate revenue, and gives us a substantial competitive advantage allowing GPS Industries to move forward independently with our strategic business plan and sales of our Inforemer(TM) solution worldwide," said Mr. Silzer. "This will enable us to create significant shareholder value for the long term, and will further cement our position as the global leader in GPS business solutions for golf facilities, sporting events, resorts and communities."
The distance measurement capability involved in the patents is just one aspect of GPSI's application of Wi-Fi wireless and GPS technology to the game and business of golf and other markets. The Company's Inforemer GPS Golf Business Solution includes mobile color handheld or cart-mounted GPS view screen units seamlessly connected by a high-speed Wi-Fi wireless network infrastructure. Inforemer provides a wide range of capabilities to golf course operators, including the management of course facilities and tournaments, analysis and monitoring of course activity, customer relationship management, the generation of revenue through remote food and beverage order placement, the sale of multimedia advertising spots and internet access through Wi-Fi hotspots.
Currently, GPS applications have been implemented on less than 5% of golf courses. GPSI expects rapidly increasing adoption of GPS golf management and consumer GPS golf devices. As a result, the Company believes it is poised to benefit substantially from growing licensing revenues.
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