Option invests $1.5 million in Autonet Mobile to deliver the 1st Mobile IP Based Telematics Control Unit for the Automotive market.
Option (EURONEXT: OPTI; OTC: OPNVY) today announced its $1.5 million investment and partnership with San Francisco, US, based Autonet Mobile, Inc., a leading provider in in-car connectivity. The partnership will utilize Option’s wireless modules and software to deliver the first mobile IP based Telematics Control Unit (TCU) for cars. The new system leverages Autonet Mobile technology and TCU design, enabling automotive manufacturers from around the world to connect their cars to high speed mobile networks and deliver new features that enable pervasive cloud computing, mobile apps and fleet telematics.
Option’s wireless modules combined with Autonet Mobile TCU and managed network, make this the first intelligent communication and control device designed to create a new and verticalized mobile automotive ecosystem. For consumers, apps can be downloaded to the car or to companion smartphones and tablets enhancing car functionality and driving experience.
Jan Callewaert, CEO of Option: “This is an important investment and strategic move for our company as the business model of Autonet Mobile is quite attractive to us aiming to become the app store for the car industry. With more than 40 million cars produced each year and more than 250 million on the road in the US, we see the market of connected cars as an important vertical opportunity. By partnering with Autonet Mobile we combine the best of both worlds: knowledge of the automotive market and 25 years of experience in designing and developing wireless solutions.”
”The automotive industry is looking for new technologies that will make their cars easier to manage, deliver new features and drive new forms of revenue” said Sterling Pratz, CEO of Autonet Mobile, Inc. “Partnering with Option allows us to build the first mobile IP-based Telematics Control Unit for cars with exceptional high speed capabilities and serving multiple operator networks.”
This strategic partnership and resultant automotive mobile application platform is targeting the leading automotive manufacturers worldwide. For Option it is a further demonstration of the repositioning of the Company delivering wireless end-to-end solutions based on hardware, software and services.
Under the agreement Option is the preferred supplier for wireless modules and software. Jan Callewaert, CEO of Option, has been appointed to the Board of Directors of Autonet Mobile, Inc. The partnership is expected to contribute to the financial results as from the first half of 2012. Option will continue to supply wireless modules to other automotive partners.
Option, the wireless technology company, is a leading innovator in the design, development and manufacture of 3G HSUPA, HSDPA, UMTS, EDGE, and WLAN technology products for wireless connectivity solutions. Option has established an impressive reputation for creating exciting products that enhance the performance and functionality of wireless communications. Option is headquartered in Leuven, Belgium. The company also has Research & Development in Belgium (Leuven), Germany (Augsburg) and an ISO 9001 production engineering and logistics facility in Ireland (Cork). Option maintains offices in Europe, US, Greater China and Japan. For more information please visit our website www.option.com.