Mercury Sports re-brands and commits to global distribution
BURLINGTON, ON, March 7 /CNW/ - IPICO Inc. (TSX-V: RFD), a global Radio
Frequency Identification (RFID) solutions supplier, today announced that it
has entered into a definitive agreement with U.S. based Mercury Sports Group
Inc. for an exclusive distributor relationship. As part of this agreement,
Mercury will conduct this business under the brand "IPICO Sports," positioning
the company to take a leading role in providing system level solutions to the
global sports time-keeping market. The agreement requires minimum aggregate
revenues to IPICO Inc. of $6 million during the initial 24 months of the
contract. Mercury's forecasted volumes for the first year include deployment
of more than 500 readers, 1,000 mats and 400,000 shoe tags to fulfil projected
IPICO Sports solutions will be packaged around specific market
requirements to include automated identification and data capture, information
management and telecommunications. Mercury's initial target markets include
running, cycling and multi-sports, with plans to expand to other sports
segments, both competitive and non-competitive. It also plans to address
fitness and performance enhancement, wellness enterprise solutions, and other
human, animal or motorized activities.
"Through our technical collaboration with IPICO Inc. to develop this
solution, we recognized the superior technical capabilities of IPICO's
IP-X(TM) air interface protocol as the lynch pin to our business strategy,"
says Mark Herbst, who joined Mercury as CEO and Chairman and a financial
investor last year. Herbst is a successful entrepreneur in telecommunications
and global supply chain solutions, as well as a running and cycling
enthusiast. "I wanted to jump into the business and not just invest after
seeing IPICO's technology successfully deployed at the Steamboat Classic and
BolderBOULDER road races," he adds.
IPICO Sports' first icon event is the BolderBOULDER 10 kilometre race,
which ranks as one of the world's largest running events. According to race
director Cliff Bosley, organizers have evaluated technologies for results and
scoring for more than a decade in search of an application to meet their
specific needs. "We found our solution with our introduction to IPICO Sports,"
Bosley says. "Moving to this new technology is the biggest enhancement and
change we've made to the BolderBOULDER since 1998. For 2007, we can now
provide our 48,000 participants with split times at every mile, as well as
immediate finish results."
"IPICO Sports will grow the value of our brand and technology as we
evolve as a company," says Gordon Westwater, President, IPICO Inc. "We have a
long-standing research and development and business relationship with Mercury
Sports Group, and are confident that Mark's involvement, combined with this
agreement, will raise awareness of IPICO Inc.'s contributions to the emerging
global RFID market and establish another solid win for our technology."
Westwater sees the relationship as a way to leverage IPICO's brand in a
sophisticated way. "We will use the sports time-keeping market to show how our
products deliver a high level of performance and to build momentum for the
first of several major vertical market initiatives that use our technology to
solve key industry pain points," he adds.
About IPICO Inc.
IPICO Inc. is an RFID solution supplier with operations in the USA, South
Africa, Europe, Asia and Australia. IPICO produces smart labels and tags based
on the IP-X(TM) communication protocol. IPICO's low interference readers
comply with regulatory requirements in major geographical regions, and allow
for multi-reader rollout in close proximity. IPICO's low cost RFID products
excel at long read range, fast multi-read anti-collision and high thru-beam
read-speeds of dynamic tag populations. These products are used to optimize
the management of items, people, animals and processes within the logistic
supply chain and other values chains. For further information, go to
About IPICO Sports (Mercury Sports Group Inc.)
Peoria, Illinois-based Mercury Sports Group Inc. combines years of sports
management experience with innovative technologies to help sport and event
providers improve the level of services they offer to athletes, spectators,
the media, commentators and other participants. It uses the latest Radio
Frequency Identification (RFID) technology in conjunction with information
management and communication tools to design custom solutions that capture,
manage and distribute results in the active sports, wellness and recreation
markets. For more information, visit www.ipicosports.com.
This news release contains certain forward-looking statements pertaining
to future anticipated projected plans, performance and developments, as well
as other statements relating to future operations and results, including,
without limitation, statements as to sales forecasts and required minimum
future revenues. Any statements in this news release that are not statements
of historical fact may be considered to be forward-looking statements. Written
words such as "may," "will," "expect," "believe," "anticipate," "estimate,"
"intends," "goal," "objective," "seek," "attempt," or variations of these or
similar words, identify forward-looking statements. These statements by their
nature are estimates of future results only. Actual results could differ
materially from those contained in the forward-looking statements and are
based on current expectations that involve substantial risks and
uncertainties, including but not limited to the failure to meet forecast order
volumes, delivery commitments or minimum revenue expectations, as well as
those risks and uncertainties detailed from time to time in IPICO's periodic
reports filed on SEDAR (www.sedar.com).
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR THE ACCURACY OF THIS RELEASE.
For further information:
For further information: For IPICO Inc. - Gordon Westwater, President,
IPICO, Tel: (905) 631-6310, email: email@example.com; Hilary Bassett,
Maverick PR, Tel: (416) 640-5525, ext., 245, email: firstname.lastname@example.org;
For IPICO Sports Group Inc. - Mark Herbst, Chief Executive Officer, IPICO
Sports, Tel: (309) 672-6442, e-mail: MHerbst@ipicosports.com; Philip Lockwood,
Chief Technology Officer, IPICO Sports, Tel: (309) 672-6442, email: