ITIS Holdings PLC
5 March 2002
5 March 2002
ITIS TO SUPPORT ONSTAR IN EUROPEAN TELEMATICS ROLL OUT
ITIS Holdings ('the Company') today confirms that General Motors Europe OnStar
is the OEM referred to last year in the company's Financial Statement released
on 28th June 2001. The Company can now confirm that, OnStar appointed ITIS as
its preferred partner to provide and manage a range of telematics services in
Europe following an extensive period of due diligence. Due to restructuring
within GM, OnStar is currently unable to give an exact date when these services
will be launched but can confirm that it is working alongside ITIS for future
projects.
Amongst the General Motors brands in Europe are Opel, Vauxhall and Saab whilst
OnStar ,a wholly owned subsidiary, is recognised as the largest and longest
running telematics service provider in the United States and Germany with over
two million subscribers.
Knuth Sexauer, Director OnStar Europe said ' ITIS is clearly a leader in
telematics and has a proven track record with its RDS-TMC and NavTrak services.
We will continue to work closely with ITIS and believe that the Company has an
important role to play in telematics throughout Europe.'
Stuart Marks, Chief Executive ITIS Holdings said ' Our relationship with OnStar
goes to the core of our strategy to be a major service provider to the world's
biggest and in previous statements I have indicated that developing these
relationships is not a quick process. This announcement is proof that this
strategy is clearly working and that ITIS is well positioned to support OEM's as
they embrace telematics'
Enquiries:
Stuart Marks
Chief Executive
ITIS Holdings plc
Telephone: 0161 927 3600 / 07768 454 700
Ginny Pulbrook / Charles Vivian
Citigate Dewe Rogerson
Telephone: 0207 282 2945 / 0207 282 2808
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.