New case in pipeline, GPS Technology Company

Bridge global investment network enters the fast growing market of GPS (Global Positioning System) devices and mobile technology to participate in the rapidly growing market.

Investment Capital Management Ltd, an entirely owned subsidiary of Bridge Group has June 21, signed a Letter of Intent (LOI) with a fast-growing world wide GPS provider of vehicle tracking and mobile data solutions for vehicle fleets.

The company is at the forefront of easy-to-use business solutions for tracking, managing, monitoring, messaging, navigation and routing from door to door.

The companys software is factory installed in one of the world leader of portable navigation systems serving aviation, marine, outdoor recreation and automotive markets. The company has its headquarters in Ireland and has offices in Belgium, the Netherlands and Sri Lanka.

The Companys aim is to raise between 5 to 6 millions EUR exclusively to the Bridge network of high net individuals and to further list the company within 18-24 months internationally or merger with a global player. Investment Capital Management Ltd is responsible for signing agreements regarding realization of road shows were the companies and licensed stockbrokers can meet the Bridge members. The Bridge Advisory board has been looking into the company,prognoses and growth potential. All the members have given their strongest recommendations to go ahead with the next step.

Already this week Bridge European representatives, will meet the companys Directors and Majority shareholders in Amsterdam, to discuss the time frame, action points and meetings will be held with some well known licensed Securities firms to administrate the companys share issue for the Bridge members.

The goal is to first offer a Private placement of 1 million EURO during the late summer to be followed by a second funding of 4-5 million EURO. Both offers will be exclusive for the Bridge global investment network.

More information and the companys name will come during the summer together with the Investment memorandum.


About GPS , Global Positioning System
With more and more affordable GPS receivers and components flooding the market, the worldwide GPS market will reach a value of more than US$ 30 Billion approximately by 2008. The people tracking and handset market segments under GPS will have the largest growth rate, of approximately 9%, by 2008. The Market world leaders of GPS devices are Garmin Ltd, TomTom, Novatel, Rockwell, Trimble, XATA Technology, Raven Industries, Lowrance Electronics.

GPS-Buddy, is a fast-growing provider of vehicle tracking and mobile data solutions for motorized fleets, which consists at the forefront; of an easy-to-use business solutions for: tracking, managing, monitoring, messaging, navigation and routing from door to door.

GPS-Buddy, is factory installed in GARMIN GPS units.
GARMIN, is the world leader of portable navigation systems serving aviation, marine, outdoor recreation and automotive markets.
With both standard and large screen devices, Garmin offers a wide choice of options to suit every vehicle requirement - from small vans to big trucks.
In close partnership, GPS-Buddy and Garmin offer this easy-to-use, and very affordable tracking, messaging and navigation solutions offering smart and cheap two-way text messaging and planned navigation capabilities.
GPS-Buddy has its headquarters in Cork, Ireland and has offices in Belgium, the Netherlands and Sri Lanka.

Interview with Tjibbe Veenstra, CEO & Founder of GPS-Buddy
We had the opportunity too ask Tjibbe Veenstra, CEO & Founder, a few questions about GPS-Buddy?s business. The cooperation with Garmin has clearly put GPS-Buddy on the fast track for growth.

What does GPS-Buddy do?
GPS-Buddy is a professional firm that plans, designs, develops and sells vehicle tracking and tracing solutions for transport companies and service companies with field operations. Combining three of the most important innovations of the past few decades ? GPS, Wireless Data and Internet ? our strategic approach is to build intelligent Internet-based solutions that are flexible and robust to suit the dynamic nature of the Internet. With the GPS-Buddy software factory-installed on millions of Garmin GPS navigators, our devices can be combined with these Garmin GPS navigators for two-way text communication and navigation at your fingertips. As the world?s largest provider of portable navigation systems, Garmin offers a wide choice of devices ? to suit both trucks and vans. Any manager or dispatcher curious about the actual location of his fleet and status of his deliveries can now access this information instantly on the GPS-Buddy web page, from any PC, anywhere in the world, anytime.

Which are your main competitors?
Locally, the markets for vehicle tracking products are very fragmented with lots of small providers of various systems. As recent tracking developments focus on the combination of tracking, communication and navigation, we do not consider these local providers as their main competitors. Currently TomTomWork is considered the principal competitor, competing with us in a limited number of countries but likely to increase their distribution.

What are your advantages?
All our products and services are developed with a focus on their easy-to-install and easy-to-use elements ? always keeping a focus on the end-user experience. Another advantage is our highly scalable platform, where all servers are modular expandable ? easily serving tens of thousands of users simultaneously per module. Furthermore GPS-Buddy?s products and service are already for sale in 18 countries in Europe and operations will be expanded into the United States from 1 September. As a result of our early commitment to the vehicle tracking market and the high quality of the products and services, we believe we have built an extensive network in Europe that would require significant time, talent, and commitment to duplicate.


Where is GPS-Buddy today and where do you see the company in two years?
With our bespoke services already available in 15 languages, a distribution network in 18 countries and a close partnership with the world?s largest provider of GPS navigators, we are well positioned to capture market share rapidly. Research companies like Gartner, Canalys, ABI Research, industry partners and many others are predicting a highly lucrative market for vehicle tracking products in the coming years and in two years we would like to reap off the benefits of being at the forefront now.


What does the cooperation with Garmin mean for you?
Garmin is the world leader of portable navigation systems serving aviation, marine, outdoor recreation and automotive markets. With both standard and large screen devices Garmin offers a wide choice of options to suit every vehicle requirement ? from small vans to big trucks. At this stage GPS-Buddy is factory-installed on millions of Garmin GPS navigators. And to date we have already signed 14 Garmin distributors as our exclusive distributor as well. Combining Garmin and GPS-Buddy the excitement begins. In Europe Garmin is a strong runner up, but in the United States Garmin has a 60% market share. Our new product the GPS-Buddy CONNECT is an out-of-the-box add-on solution offering communication, tracking and fleet management facilities to every Garmin device ? not just the new ones, but also the Garmin devices already used by millions of users.


How do you predict the market to develop?
It?s my and our staff?s ambition to keep GPS-Buddy at the forefront of the vehicle tracking market. We believe, and many of the industry pundits concur, that the fleet and asset tracking market will grow rapidly and will even explode as soon as a few big names enter this business. No doubt, that TomTomWork will act as a catalyst for market transformation like they did within the market for GPS navigators as we all know. TomTom?s CEO Harold Goddijn summoned it up in a press release when TomTom acquired DataFactory ? a company similar to GPS-Buddy: ?TomTom believes that the vehicle tracking market has only just started to develop. Giving the growing demand to improve their efficiency and optimise the allocation of resources, service companies with field operations have started to use tracking and tracing solutions. This is expanding the market which traditionally served only large truck and logistic companies?


How will you use the money from the two share issues?
Since we have run the business on earnings and organic growth up to now, the expansion possibilities have been limited. At this moment we have a leading position in Europe and we would like to use your investment for building our company much faster than our actual pace. We want to cement our position as a leading force, capable of reaping off the benefits of this rapidly evolving market.


Do you want to say anything else to your potential investors?
GPS-Buddy is something completely different from the well known GPS navigators. A GPS navigator is calculating the perfect route from A to B. GPS-Buddy doesn?t do that. The GPS-Buddy device sends every moment of the day the exact location and status of the vehicle to the GPS-Buddy servers. Based on this data GPS-Buddy can tell you at any given moment when the vehicle started at A, who was driving the vehicle, which route has been driven, how it was speeding, when it stopped where for how long and when it arrived at B. This business is crucial for businesses that want to optimize the use of their fleet and mobile workforce. By connecting a Garmin GPS navigator to the GPS-Buddy device, the user is also able to send and receive messages and tasks to and from the dispatcher.

you can read the memorandum here