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Intrinsyc and Movix Sign Long-Term AgreementCollaboration to Bring Navigation and Location Based Services to Latin America Markets (January 05, 2011)
VANCOUVER, BRITISH COLUMBIA and SAO PAULO, BRAZIL -- (Marketwire) -- 01/05/11 -- Intrinsyc Software International, Inc. (TSX: ICS) and Movix, Empresa Brasileira de Solucoes de Mobilidade Ltda., today announced a long-term agreement that provides Movix with access to Intrinsyc's core navigation assets in source code form and enables Movix to sublicense to other navigation and location based service providers throughout Latin America. In addition to collaboration on future innovation, Intrinsyc and Movix will work together to customize solutions for Spanish and Portuguese speaking markets.
The agreement provides Movix 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 one 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.
Since 2002, Movix has provided Destinator navigation software on numerous personal navigation devices and leading smartphones. In May, 2010 Intrinsyc and Movix collaborated with Apontador to bring a customized solution to the Apple iPhone in Brazil, sold under the brand "Apontador Navegador", by Apontador. Apontador Navegador builds upon the Destinator 9 application with enhanced and expanded (POI) point of information data and the navigation guide, Quatro Rodas, from Movix.
"Movix is a very successful navigation and location based services company with majority market share in the Brazil market. We are pleased to continue our collaboration in their current markets as well as support their expansion throughout Latin America," said Tracy Rees, CEO, 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 the leading personal navigation company in Latin America."
"This agreement allows Movix to bring increased innovation and localized navigation features for Spanish and Portuguese speaking markets from Mexico to Argentina," said Carlos Roberto Borges, Managing Director, Movix. "Destinator software is an outstanding foundation on which to build solutions for navigation and location based services."
About Intrinsyc Software International, Inc.
Intrinsyc empowers device makers, mobile operators, and silicon vendors to deliver compelling, next generation mobile devices faster with higher quality, and differentiating innovation. We help our customers deliver compelling products using our unmatched expertise with the leading OS platforms including Android, Apple, Blackberry, Linux, Symbian, QNX, Windows CE and Windows Mobile. Intrinsyc is publicly traded (TSX: ICS) and is headquartered in Vancouver, Canada, with operations in China, Taiwan and the United States (www.intrinsyc.com).
About Movix - Empresa Brasileira de Solucoes de Mobilidade Ltda.
Movix is committed to offering the Brazilian market the latest innovation in the navigation industry. Movix was founded in 2002, and with its partnership with Destinator Technologies, began exclusively marketing the Maplink Destinator software in Brazil. Four years later, Movix, in a partnership with Editora Abril, launched the highly acclaimed "Navegador Guia Quatro Rodas", vehicle GPS solution in Brazil. Currently Movix has a portfolio with a wide range of products: personal navigation devices, smartphones, accessories, and software. Movix creates partnership bonds with each and every one of its customers, to offer extremely trustable information and to make navigation a safer solution day-to-day (www.movix1.com.br).
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