Intrinsyc Software and MLS Multimedia Sign Long-Term Agreement
Monday, September 20, 2010
Vancouver, BC, September 20, 2010--(T-Net)--Intrinsyc Software International, Inc. (TSX:ICS) and MLS Multimedia SA today announced a long-term agreement that provides MLS with access to Intrinsyc's core navigation assets in source code form and enables the development and enhancement of MLS Destinator Talk&Drive, the voice controlled, turn-by-turn navigation software. In addition to collaboration on future innovation, Intrinsyc and MLS will work together to expand MLS Destinator Talk&Drive(TM) to new markets across the globe.
The agreement provides MLS with source code access to optimize Intrinsyc's Destinator navigation software on a broad set of platforms including: Apple iPhone, Android and Windows based handsets and tablets, and Windows based Personal Navigation Devices. In return the companies have agreed to sales targets and minimum volumes of licenses to be purchased over the three year agreement.
Destinator is a powerful turn-by-turn navigation application featuring a trusted, reliable routing engine that exceeds all performance benchmarks. In addition to many popular features designed to easily get people to their destinations quickly and safely, Destinator provides full onboard maps allowing for continuous navigation and preventing the user from incurring expensive network connection fees associated with alternative solutions.
"We are pleased to enter into a long-term agreement for the use of Destinator technology in the innovative MLS Destinator Talk&Drive(TM) product", said Tracy Rees, CEO of Intrinsyc Software. "The signing of this agreement provides Intrinsyc with greater visibility to future business and it deepens our close relationship with a long-term partner and rising star in personal navigation."
MLS Talk&Drive(TM) offers consumers a very easy to use and safer way to navigate, eliminating complex entry through keyboards and touchscreens - the driver simply says their desired destination and receives visual and spoken directions, enabling the driver to safely focus on the road. This capability has enabled MLS to become the leader in the personal navigation market in Greece. MLS Destinator Talk&Drive(TM) received the local Tech Excellence award, organized by PC Magazine, for 2009.
About Intrinsyc Software International, Inc.
For our business partners, Intrinsyc empowers device makers, mobile operators, and silicon vendors to deliver compelling, next generation mobile and embedded devices with faster time-to-market, higher quality, and differentiating innovation. For consumers, Intrinsyc also markets navigation solutions direct-to-consumer under its own proprietary brand, Destinator, across leading application stores worldwide. Our customers and partners rely on our award-winning device development solutions and our industry-leading navigation software and LBS solutions. Intrinsyc is a 2009 winner of the Microsoft Windows Embedded Excellence Award. Intrinsyc is publicly traded (TSX:ICS) and is headquartered in Vancouver, Canada, with offices in China, Taiwan, and the United States.
About MLS Multimedia SA
MLS Multimedia SA, a technology-oriented company listed on the Athens Stock Exchange, is a leading car navigation systems and multimedia technologies developer and distributor within the Greek market. Established in October 1995 inThessalonikiGreece, MLS develops and provides unique technology products with applications in all fields where computational devices are used, from education and entertainment to the office and motoring. With commitment to innovation and quality, MLS won the European Information Technology Grand Prize in 1998, was the first to launch navigation products to the Greek market in 2003 and the first navigation system with voice recognition under the name MLS Talk&Drive(TM), in 2007. Today MLS is the largest GPS software company in Greece (56% market share in value according to GFK's July 2010 report) and the largest developer of Greek multimedia titles and language engineering products.
Intrinsyc Software International, Inc. - Investor Relations
George Reznik, Chief Financial Officer
Vancouver, BC (Wireless)
60 Employees In BC (150 Total)
Founded: 1992 | Revenues: $12.70 Million
Intrinsyc provides hardware, software, and service solutions that enable companies to build next-generation mobile and embedded products.