 |
|
|
March 7, 2007
IPICO Inc. Launches Global Sports Time Keeping Venture With Mercury Sports Group Inc.
Mercury Sports re-brands and commits to global distribution
BURLINGTON, ON, CANADA—IPICO Inc. (TSX-V: RFD), a global Radio
Frequency Identification (RFID) solutions supplier, today announced that it has entered into
a definitive agreement with U.S. based Mercury Sports Group Inc. for an exclusive distributor
relationship. As part of this agreement, Mercury will conduct this business under the brand
“IPICO Sports,” positioning the company to take a leading role in providing system level
solutions to the global sports time-keeping market. The agreement requires minimum
aggregate revenues to IPICO Inc. of $6 million during the initial 24 months of the contract.
Mercury’s forecasted volumes for the first year include deployment of more than 500
readers, 1,000 mats and 400,000 shoe tags to fulfil projected demands.
IPICO Sports solutions will be packaged around specific market requirements to include
automated identification and data capture, information management and
telecommunications. Mercury’s initial target markets include running, cycling and multi-
sports, with plans to expand to other sports segments, both competitive and non-
competitive. It also plans to address fitness and performance enhancement, wellness
enterprise solutions, and other human, animal or motorized activities.
"Through our technical collaboration with IPICO Inc. to develop this solution, we recognized
the superior technical capabilities of IPICO’s IP-XTM air interface protocol as the lynch pin to
our business strategy,” says Mark Herbst, who joined Mercury as CEO and Chairman and a
financial investor last year. Herbst is a successful entrepreneur in telecommunications and
global supply chain solutions, as well as a running and cycling enthusiast. “I wanted to jump
into the business and not just invest after seeing IPICO’s technology successfully deployed
at the Steamboat Classic and BolderBOULDER road races,” he adds.
IPICO Sports’ first icon event is the BolderBOULDER 10 kilometre race, which ranks as one
of the world’s largest running events. According to race director Cliff Bosley, organizers have
evaluated technologies for results and scoring for more than a decade in search of an
application to meet their specific needs. “We found our solution with our introduction to
IPICO Sports,” Bosley says. “Moving to this new technology is the biggest enhancement and
change we’ve made to the BolderBOULDER since 1998. For 2007, we can now provide our
48,000 participants with split times at every mile, as well as immediate finish results.”
“IPICO Sports will grow the value of our brand and technology as we evolve as a company,”
says Gordon Westwater, President, IPICO Inc. “We have a long-standing research and
development and business relationship with Mercury Sports Group, and are confident that
Mark’s involvement, combined with this agreement, will raise awareness of IPICO Inc.’s
contributions to the emerging global RFID market and establish another solid win for our
technology.”
Westwater sees the relationship as a way to leverage IPICO's brand in a sophisticated way.
"We will use the sports time-keeping market to show how our products deliver a high level of
performance and to build momentum for the first of several major vertical market initiatives that use our technology to solve key industry pain points," he adds.
|
|
