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BSM Technologies awarded $900,000 contract in expansion of services to existing client

^{Published on 2011-06-02 05:46:01 - Market Wire}
 

WOODBRIDGE, ON, June 2, 2011 /CNW/ - BSM Technologies Inc. ("BSM" or the "Company") (TSX-V: GPS), a leading provider of remote monitoring, fleet management, fleet diagnostics and automated vehicle security systems, today announced that it has been awarded a contract to provide its Sentinel FM asset tracking solution to a major Canadian transportation services provider. For the initial implementation, valued at more than $0.9 million over a two-year period, BSM equipment will be installed on approximately 800 vehicles.

The contract is an expansion of BSM's existing relationship with the client, which has over 1,500 vehicle installs in another division. Later this year, another 400 vehicles will be installed in this division, bringing BSM's total mandate with the client to about 2,700 vehicles and a contract size of $1.2 million.

"This contract expansion demonstrates the effectiveness of the BSM solution," said Aly Rahemtulla, President and CEO. "Since we began working with one division of this client, vehicle installations have expanded by over three times, delivering a measurable improvement in fleet utilization. By adding this additional division they can begin to extend these benefits across the organization."

This new implementation will be integrated with the client's dispatch system to enable real-time fleet management and optimize load matching. The expected benefits include improved fleet utilization and fuel management, reduced maintenance costs and decreased operator down-time.

About BSM Technologies
BSM Technologies, through its subsidiary BSM Wireless Inc., is a leading provider of remote monitoring, fleet tracking, fleet maintenance, and business intelligent engine providing real time, web‐based tracking of mobile and fixed assets. BSM provides solutions for commercial, government, and law enforcement organizations who manage and operate diverse assets and large fleets, and who seek to enhance customer service, improve the safety of their drivers and vehicles, and lower business costs.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

For more information, please visit [ http://www.bsmwireless.com ]