RICHMOND, BRITISH COLUMBIA — (Marketwire) — 06/05/12 — DDS Wireless International Inc. (TSX: DD) (“DDS” or “the Company”) announced today that its Taxi business unit, Digital Dispatch Systems, has signed two important contracts for the deployment of mobile commerce and mobile media applications into the backseat.
The two contracts have a total contract value of $0.7 million for the deployment of mobile data units but more significantly, the deployment of mobile data units in the backseat will generate downstream recurring revenue from transactions and advertising. This revenue is not included in the above noted contract value and would be expected to come on stream toward the end of fiscal 2012.
“I-m delighted with the progress in 2012 of our strategy to penetrate the backseat of taxi cabs in North America,” said Vari Ghai, CEO of DDS. “This is an important driver of growth of recurring revenue and the deployment of these units will bring us to a total of approximately 750 units deployed in the backseat by the end of fiscal 2012.”
The Company also announced two further contracts totaling $0.4 million for the sale and deployment of upgrades to two existing North American customers.
About DDS Wireless International Inc.
DDS Wireless International Inc. is a global leader in providing mobile wireless data solutions for multiple vertical markets within the transportation industry. The Company specializes in transit routing and scheduling, real-time dispatching, vehicle location and tracking software applications, communications infrastructure as well as in-vehicle wireless devices. DDS Wireless operates three market facing business units dedicated for Transit, Taxi and New Markets such as Limousines and Work Trucks. The Company supports its customers worldwide through its offices in Canada, Finland, Singapore, Sweden, U.K. and U.S.A.
Forward-Looking Statements
This press release may contain forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, operations, anticipated financial performance, business prospects and strategies, statements about future market conditions, supply and demand conditions, revenues, gross margins, operating expenses, profits, and other expectations, intentions, and plans contained in this press release that are not historical facts. Such forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors which could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, business risks, changes in market and competition, technological and competitive developments and potential downturns in economic conditions generally. Given these risks and uncertainties DDS Wireless cannot guarantee that any forward looking statements will be realized.
Contacts:
DDS Wireless International Inc.
Investor Relations
(604) 241 1441
DDS Wireless International Inc.
Caroline J. Dunn
Chief Financial Officer
(604) 214 7206
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