Woodinville, WA (PRWEB) June 27, 2008
Loctronix Corporation, a provider of universal location sensing core technology for mobile applications, announced today the acceleration of business and corporate development activities to address the $27-billion-plus global location market. This effectively ends the company's initial research and development phase after successfully demonstrating its proprietary technology.
"We are very pleased to be coming out of stealth mode and entering the next stage, where we are offering the first truly universal positioning capability to prospective manufacturing and strategic partners," said Michael B. Mathews, Ph.D., President and Chief Architect of Loctronix.
Mathews also announced two key senior executive appointments. Norm Levy, a veteran Seattle-area executive and strategy consultant, and CEO of Strategic Development Corporation, will serve as Loctronix' Interim CEO. "Norm Levy's wealth of experience in corporate strategy and development accelerates our growth and enhances our fund-raising efforts. With his guidance we are completing the current $3.5 million Series B round and embarking on follow-on funding," Mathews noted.
Tom Farmer, a senior business and market development expert in the wireless technology arena and former Executive Director of Business Development for Freescale, Inc., takes the role of Loctronix' Executive Vice President of Business Development. "Tom Farmer's proven expertise in business development within the cellular and wireless industries is invaluable in forging industry partnerships and opening markets for us," said Mathews.
"The company is fortunate to have the services of these two veteran leaders to take Loctronix to the next level," he noted.
"Loctronix has both the team and the technology to be successful," Levy said. "The team's deep expertise in positioning technologies is unrivaled, and the universal positioning capability that they have developed is changing the way we locate and track people and assets. I am delighted to be working with them to create the corporate structure that will make their vision a market reality."
Loctronix' breakthrough technology locates and tracks people and assets indoors, outdoors, or even underground using positioning signals from GPS (U.S.), GLONASS (Russia), localized beacons, and in the future Galileo (Europe), Compass (China), and QZSS (Japan).
"Loctronix' SCP technology addresses the cost and performance challenges faced by wireless carriers and others in realizing practical and functional solutions for ubiquitous E911, location based services (LBS) and asset tracking," noted Farmer.
According to some analyst estimates, the worldwide location market will exceed $27 billion in 2008 with applications that include navigation, fleet management and asset tracking. The flexibility to track via a single low-cost sensor all positioning signals in view, whether from Global Navigation Satellite Systems or from regional and local beacons, will spawn new applications in consumer, industrial, safety/security and military markets, Farmer stated.
"We will provide our partner-customers the core technology, development tools, reference designs, and support services to allow them to create the ultimate generation of location services - locating anything, everywhere," he added.
About Loctronix Corporation
Based in Woodinville, WA, Loctronix Corporation has developed next-generation universal positioning technology delivering cost-efficient, seamless indoor/outdoor coverage for locating anything, everywhere. For more information about Loctronix Corporation, e-mail firstname.lastname@example.org or visit http://www.loctronix.com.
Loctronix and the Loctronix logo are trademarks of Loctronix Corporation.