SkyBitz to Leverage Wireless Technology to Meet Growing Market Demand
STERLING, Va., April 1, 2008 /PRNewswire/ -- SkyBitz, the leading satellite-based asset tracking and information management service provider, is leveraging their proprietary GLS technology to new industries including the government, cold chain, heavy equipment, energy, rail and intermodal sectors.
According to a recent report by Frost & Sullivan, the Total Commercial Vehicle Telematics Market will grow from $1.15 billion in 2006 to exceed $6 billion in 2013. Having established a significant growth trend in the fleet industry, SkyBitz will continue to grow core telematics clients while pursuing expansion to new industries and geographies. As the global supply chain relies more on the timely data and strategic analysis of asset tracking, SkyBitz's product suite, enabling real-time visibility, increased inventory efficiencies, issues response and lower insurance costs, results in significant improvements to supply chain ROI. Already established across North America, SkyBitz has taken a leading role as the preferred technology provider in facilitating these crucial business processes for over 500 customers.
"It's clear that this market holds an enormous amount of growth potential and we are just seeing the beginning of what is clearly an area of interest for any organization seeking to build operational efficiencies within their supply chain management," said Sandeep Kar, analyst, Frost & Sullivan. "Asset tracking is a global solution to a growing issue with worldwide impact. The GLS technology allows for a variety of industries to take advantage of increased supply chain efficiencies."
In order to facilitate this new growth period SkyBitz has hired a new Executive Vice President of Sales and Operations. Bernard Borghei is a seasoned sales and operations professional with over a decade in the wireless telecom and technology sectors. Mr. Borghei has held previous strategic positions in a variety of business disciplines including solution sales and business development, engineering and program management, field operations and customer services at organizations such as TruePosition, SunCom Wireless, Omnipoint, LLC and WFI. Mr. Borghei holds an MBA in Global Management and a Bachelor's degree in Electrical Engineering.
"Wireless technology is producing significant ROI across a broad spectrum of international transport sectors," stated Dr. Homaira Akbari, CEO of SkyBitz. "SkyBitz, having earned a reputation for best of breed technology coupled with industry leading customer, is expanding accordingly. Our customers' needs have driven our innovation and we are growing to meet a demand that is emerging on a global scale. With a superior solution and an experienced management team, we have established our wireless presence within the North American fleet sector and will now look to extend our successful business model new industries and geographies. The addition of Bernard Borghei to our team will help to further our plans for expansion. Attracting a professional of Bernard's caliber is further testament to the advantageous position that our GLS technology offers to the global market."
SkyBitz has recently been named #1 in the Virginia Deloitte Fast 50, an annual award recognizing the fastest-growing companies in Virginia and #2 in the first-ever Deloitte Technology Wireless Fast 50 a ranking of the fastest growing wireless companies. The company was also recently named 112th on the Inc. 500's annual list of The Fastest Growing Private Companies in America. SkyBitz ended 2006 with nearly 64 percent revenue growth from the previous year.
SkyBitz will exhibiting in the M2M Pavilion at CTIA (Booth # 5031). For more information on GLS technology or to arrange a meeting with SkyBitz please contact Shana Vieira on (202) 236-1812 or at shana.vieira@edelman.com
About SkyBitz
SkyBitz developed the revolutionary Global Locating System (GLS) technology to give customers the ability to track un-powered assets by utilizing wireless satellite technology and centralized position calculations. The two-way GLS satellite communicator is compact, easy to install and provides multi-year battery life. More than 440 fleets currently rely on the cost-effective SkyBitz GLS technology to track more than 150,000 trailers and containers and achieve total asset visibility, improve security, lower operating costs and enhance customer service. Headquartered in Sterling, Va., SkyBitz is a privately held company financially backed by CIBC Capital Partners, AIG Highstar Capital, Inverness Capital Partners, Motorola Ventures and ITV a fund of Cordova Ventures. For additional information, visit www.skybitz.com.
SkyBitz
