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February 2001
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NovAtel Inc. acquires equity interest in Mezure, Inc.
Calgary, Alberta---Feb. 12, 2001--NovAtel Inc. and Mezure, Inc. have signed a number of agreements under which NovAtel would acquire a 48.7% equity interest in Mezure.
The agreements include a US $400,000 cash investment, together with R&D and engineering services to facilitate initial product development. Mezure was established in early 2000 and has been working with NovAtel to develop market applications combining high precision GPS, wireless infrastructure and the Internet.
According to a company spokesperson for Mezure, "We are excited to have NovAtel as an equity partner in Mezure. NovAtel's technological expertise in high precision GPS along with Mezure's unique product and GPS industry experience is a winning combination. The decision to partner with NovAtel was based on their superior technology and the entrepreneurial spirit of the company."
Mezure is currently in product development and at the present time intends to launch its first product within six months.
NovAtel and Mezure have also signed a supply agreement, under which NovAtel will manufacture products utilizing its OEM4 GPS receiver for Mezure, as well as a technology license agreement under which NovAtel would license certain of its technology to Mezure.
NovAtel designs, markets and supports a broad range of products that determine precise geographic locations using the GPS. NovAtel's GPS products are used principally for applications in high-end markets such as surveying, GIS, aviation, marine, mining and machine control and agriculture.
For further information visit: http://www.novatel.ca.
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