5-Year Pact With Prestigious Firm Worth a Minimum $82.5 Million, With Additional Upside Potential for GPSI
Vancouver, CANADA – GPS Industries, Inc. (GPSI) (OTC BB: GPSN.OB), the leading innovator of Wi-Fi enabled GPS systems for golf facilities, resorts and residential communities, today announced the signing of a multi-course installation agreement for its patented Inforemer-HDâ?¢ golf management system through an affiliate of prestigious management and consultancy firm Global Golf Advisors, formerly a division of international accounting firm KPMG.
Under terms of the agreement, GPS Industries will complete Inforemer-HDâ?¢ installations worth an estimated minimum of US$16.5 million annually, for a period of five years. This figure does not include significant additional revenues to GPSI from advertising programs, implementation of the Company’s Fire At The Flag $10-Million hole-in-one program and sale of its WiStreamï?¤ brand of Wi-Fi products.
Stephen Johnston, CA, MBA, President and Principal founder of Global Golf Advisors, commented: "Having sorted through the claims and costs of a wide range of technologies, we believe that finally there is a product that meets a ‘needs’ analysis and not just a ‘wants’ discussion with golf course owners. That is because the Inforemer-HD system integrates a full suite of management tools that improves accountability, optimizes operations, enhances marketing, and generates new revenue streams. The Inforemer system and all other GPSI products will actually produce positive return on investment for the golf course at a price that has never been seen before in this industry. That’s why we are so excited about this relationship. We will be enabling golf course owners to determine a direct financial benefit at the time of signing the contract and it will improve their competitive advantage in the marketplace." Mr. Johnston created the KPMG Golf Practice in 1992. He has been a respected speaker at numerous golf conferences, sits on a number of Boards related to improving the business component of golf, and is Canada’s King of Aces, with 49 holes in one to date.
"Global Golf Advisors has established an impeccable reputation around the world," said GPSI President and CEO Robert Silzer, Sr. "Knowing they thoroughly scrutinized all available options in the market and chose our patented technology makes this one of the most gratifying endorsements we could ever receive. This is powerful evidence that our Inforemer-HD solution enhances both the game and the business of golf."
GPSI-2/2
About Global Golf Advisors (GGA)
Global Golf Advisors, Inc. has provided professional services to owners and operators of more than 1,900 golf courses worldwide. A division spin-off of powerhouse KPMG, the company was known before January 1, 2006 as KPMG Golf Industry Practice, and continues on with the same management and clientele. From business plans and strategic planning and consulting, to on-site monitoring of construction, the company works to help both established golf clubs and new golf developments maximize profits and upgrade to state of the art systems that exploit the economic realities and new technologies in the 21st-century golf marketplace.
About GPS Industries (GPSI)
GPS Industries, Inc. (OTCBB: GPSN) is a global technology solutions provider whose GPS and Wi-Fi applications are best-of-breed in the vertical markets of golf course management and residential community development. In the golf industry, the Company’s Inforemer-HDï?¤ GPS Management System features an integrated Wi-Fi communications network, a comprehensive suite of club management tools, and award-winning cart-mounted display units that provide an enriched on-course playing experience. In the community development vertical, the Company’s WiStreamï?¤ division implements WiFi coverage throughout an entire development, creating a community-wide wireless ‘hot-spot’ which supports the Company’s unique array of WiFi amenities: wireless internet connectivity, location tracking devices, wireless security protection, VOIP phones, mobile point-of-sale systems, and an interactive real estate sales tool. GPSI owns key patents for many important GPS and Differential GPS (DGPS) applications in fifteen countries worldwide, including the United States, Australia, Great Britain and Japan. For additional information, please visit www.gpsindustries.com, www.wistream.com and www.gpsifireattheflag.com.
Contact:
Steve Barrett
Chief Marketing Officer
604-576-7442
steven@gpsindustries.com
Ryan Gray
Investor Relations
310-276-6743
ryan@gpsindustries.com
Sean Collins, Senior Partner
CCG Investor Relations
310-477-9800, ext. 202
www.ccgir.com
