Teklogix to acquire 20 per cent of U.S.-based e-commerce logistics company
$10M (U.S.) Investment in SyVox Corporation
Positions Teklogix for Leadership in the Growing Speech Recognition
Market
MISSISSAUGA, ON, Feb. 1 /CNW/ - Teklogix International Inc., a leading
developer and marketer of wireless logistics systems today announced its plan
to acquire a 20 per cent interest in SyVox Corporation, a high technology
company focussed on e-commerce speech-directed logistics applications, for $10
million (U.S.). Under the terms of the investment, the two companies will
jointly develop and market speech-based inventory management systems for
warehouse and logistics applications. The deal is subject to the entering into
of a definitive agreement.
SyVox Corporation, a privately-held company based in Boulder, Colorado,
develops and markets software and provides integration services enabling
mobile workers to dramatically increase their productivity and reduce customer
order fulfillment time by using hands-free voice interaction technology rather
than traditional paper-based systems. In the past year, SyVox systems have
been installed at over 100 sites in North America and Europe, at Nabisco and
several other large-company distribution centres.
"Today's announcement is highly significant for Teklogix as it opens a
major new applications area for us," said Ian D. McElroy, President and CEO of
Teklogix. "Our investment in SyVox enables us to leverage their superior
technology and expertise in speech-directed software and integrate it into our
wireless backbone system - creating a "best-of-breed" solution for our current
customer base and channel partners."
Teklogix and SyVox will both market speech-based logistics systems on a
worldwide basis, consisting of a Teklogix wireless infrastructure and mobile
clients communicating with SyVox' RxP application software, which works in
conjunction with major warehouse management systems (WMS) and ERP solutions.
Both companies' product families will be further enhanced under a joint
product development agreement.
"SyVox is extremely excited about joining forces with Teklogix," said
Ivan P‚rez-M‚ndez, CEO of SyVox Corporation. "Teklogix' experience and
reputation, as well as their dedication to the wireless logistics market, will
drive the rapid adoption of speech-directed systems."
Commenting on the market for speech-directed systems and Teklogix' growth
plans, McElroy said "The combination of e-commerce logistics and demand for
rapid retrieval systems in traditional warehouse operations is creating an
enormous demand for new productivity tools, such as speech-directed systems.
While the Internet enables e-commerce customers to instantly place orders,
speech-based solutions will allow those orders to be rapidly filled and help
eliminate large bottlenecks which exist today in the logistics area of e-
commerce. Our goal is clear leadership in an industry we believe will exceed
$100 million (US) in two years."
Teklogix is a global leader in providing real-time supply chain solutions
for mobile workers in local and wide-area logistics applications. The
company's systems and enabling software solutions are typically used by
large-scale organizations in manufacturing, retail, transportation, and
service industries. The company's Integration Services Group specializes in
providing data collection solutions for SAP R/3 (R) systems with TekRF
Integration Components for R/3. More than 6,000 Teklogix systems are installed
in 50 countries worldwide. Teklogix has 39 sales and support offices and 26
independent distributors throughout North America, Europe, Asia and the
Pacific Rim, and South and Central America.
SyVox Corporation is a global leader in industrial speech recognition
software applications. SyVox develops speech-based solutions for e-commerce
and other distribution logistics operations. SyVox offers complete system
design services including installation, training, and support through a highly
trained business development team and through a network of business partners.
The company is privately held and is headquartered in Boulder, Colorado with a
European subsidiary in Ieper, Belgium.
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For further information: Gord Wilde, VP Finance and CFO, Teklogix
International Inc., (905) 812-6220, gwilde@teklogix.com |
