Matrix Electronica to Distribute Fastrax GPS Technology in Spain, Portugal

4/27/2005 - Fastrax Ltd., a leading provider of open and portable OEM GPS Software Development Kit environments and programmable OEM GPS receivers, announced a distribution agreement with Matrix Electronica S.L., a company specializing in complex semiconductor and electromechanical components as well as embedded modules.

Matrix Electronica is Spain's leading distributor of GPS technology, with a market share of approximately 80% in the OEM GPS market. Matrix will distribute Fastrax's iTrax family of OEM GPS receivers, as well as the Fastrax iSuite 3 Software Development Kit (SDK).

"We are proud to welcome Fastrax into our lineup of superior electronics products from leading manufacturers. With their compact size, top performance and low power consumption, Fastrax products represent the state of the art in GPS technology. Through this collaboration, we will be able to strengthen our own offering by providing our customers with the most advanced OEM GPS receivers on the market," said Mr. JÚsus Santos, Sales Director, Matrix.

"Matrix's technical sales and support organization has a deep knowledge of GPS hardware and software, as well as substantial experience in southern European markets. We are very pleased to have Matrix Electronica as our distribution partner in Spain and Portugal," said Mr. Fredrik Borgstrom, responsible for Fastrax's European sales.

Fastrax OEM GPS receivers offer industry-leading benefits in performance, size, power consumption and versatility. Fastrax products enable the implementation of position-aware features into practically any device. The GPS modules are ideally suited for both industrial tracking systems and small battery-operated products such as mobile phones, asset tracking devices, handheld computers and sports accessories.

The Fastrax iSuite 3 SDK can be used to rapidly modify the features and functionality of a GPS receiver, allowing receiver performance and power management to be tailored for any usage scenario. By utilizing the spare CPU and memory resources of the GPS receiver, the Fastrax iSuite 3 SDK can significantly reduce the bill of materials and non-recurring expenses of GPS products.

About Fastrax Ltd
Fastrax provides industry-leading receivers and software solutions for optimal utilization of GPS (Global Positioning System) and other GNSS location services (Global Navigation Satellite Systems). Fastrax transforms GPS technologies into highly scalable iTrax and iSuite solutions with open interfaces, combined to ultra low power consumption and miniature hardware design. With industry-leading performance, Fastrax GPS receivers navigate continuously even in extreme conditions. Receivers are ideally suited to both industrial location applications and high-volume consumer products such as cell phones and sports accessories. Fastrax Engineering Services provide expert services in application design. Headquartered in Finland and founded in 1999, the company is privately owned and backed by leading venture capital investors CapMan, Eqvitec, Startupfactory and Innocap, with a strategic investment by Suunto Corporation, a subsidiary of Amer Group, a leading global supplier of sporting goods equipment. More information:

About Matrix Electronica S.L.
Founded in January 1991, Matrix Electronica specializes in distributing complex semiconductor and electromechanical components as well as embedded modules in niche markets requiring strong technical support. The company serves the markets of Spain, Portugal and France, with branch offices in Madrid, Barcelona, Bilbao, Lisbon, Paris and Toulouse. Matrix is a founder member of Advanced European PLC, a group of independent distribution companies covering all of Europe. More information:

Global Positioning System (GPS) is a worldwide satellite navigation infrastructure funded and controlled by the U.S. Department of Defense, originally developed for U.S. military purposes. GPS provides satellite signals that enable GPS receivers to calculate their exact position and velocity. The GPS infrastructure has three segments. The space segment consists of 24 satellites that orbit the earth every 12 hours. The control segment consists of tracking stations located around the world, with the master control station located at Falcon Air Force Base in Colorado. The user segment consists of GPS receivers and users utilizing the information provided by the system. GPS is widely used in applications such as marine navigation.

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