BSM Technologies Inc, (GPS: tsx-v) (http://www.bsmtechnologies.com) a leading provider of secure vehicle and trailer fleet management, high security vehicle tracking and surveillance solutions today announced that it has signed a non exclusive Partnership Agreement with Fuel Tax Reporting provider Permitax Corporation of Waterloo Ontario for business and revenue sharing throughout North America.
The terms of the agreement grants BSM full rights to sell Permitax's GPS fuel tax services to the transportation industry throughout North America. Both sales organizations can sell the other's products and services to the benefit of their respective customers. The agreement provides fuel tax account data transfer and reporting to both organization's sales and service teams for existing and new customers on a revenue sharing basis. This agreement enhances BSM's solution to the transportation industry customers to have Permitax prepare their IFTA and mileage/highway use tax returns for Canada and the U.S. BSM Wireless will transmit pertinent customer electronic vehicle GPS and dispatch data to maximize efficiencies, improve accuracy and improve the ROI of any size fleet.
"We are very excited about this business partnership for our customer base and other new opportunities. A large percentage of our customers have been asking for a fuel tax rebate and accounting capabilities as part of our robust AVL solution. This agreement is an extension of our growing solutions for the transportation industry and adds to meeting the needs of all size fleets regardless of vertical sector and location," says Michael Bookbinder, Director Sales - Telus at BSM Wireless.
Bookbinder, continued "Adding Permitax fuel tax reporting to our portfolio of transportation solutions now offer the applications and tools integrated with our advanced GPS-based AVL and secure fleet management solution to improve their ROI."
"We are thrilled about our new partnership with BSM Wireless for our full service fuel and mileage tax reporting solutions," says Steve Mulligan, VP of Business Development for Permitax. "We look forward to the opportunity to work more closely with BSM and to further develop this great relationship. Permitax only partners with premiere technology providers to offer our clients a full service fuel and mileage tax reporting solution that seamlessly integrates with their technology investment".
About Permitax
Waterloo, Ontario based Permitax Corporation was founded in 1984 as a division of the TFS Group of Companies (founded 1974). Permitax's mission is to provide its client's with the best and most cost effective outsourced fuel and mileage tax reporting services in the industry. Permitax's ability to provide its clients with a hybrid of both full service automated paperless and paper fuel tax reporting has proven to save their clients both time and money. Unparalleled commitment to service, audit experience, accuracy and detail has helped Permitax clients to reduce their audit risk and has provided them with long term peace of mind. For more information, visit www.permitax.com.
About BSM Techologies Inc. www.bsmtechnologies.com
-------------------------- -----------------------
BSM Technologies and its subsidiaries, HGI Wireless and BSM Wireless, design, manufacture and market a comprehensive line of high security vehicle tracking and surveillance solutions for Law Enforcement Bait and Covert, High Security and Executive Protection, Fleet Management and Consumer Safety. BSM products are designed with the enhanced reliability, functionality and security today's GPS technology allows. By also incorporating advanced mapping and wireless technologies, the BSM line of products provide sophisticated real-time monitoring and control of vehicle assets. The BSM line of products range from our Fleet and Trailer management edition, to our full featured "Stinger" featured in news media worldwide as the key technology behind the "Bait and Covert" application used by Law Enforcement to deter auto, trailer and heavy equipment theft. That same quality and attention to detail is dedicated to the manufacture of all our products. Recognized as an industry leader in Covert Telematics, BSM provides solutions for any asset-tracking requirement. Our product line can be adapted to your requirements and our support infrastructure assures our clients the premium GPS solution in the industry.
The TSX Venture Exchange has not reviewed and does not accept 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. This News Release may include certain "forward-looking statements" that involve risks and uncertainties. Actual results may differ materially from results indicated in any forward-looking statements. The company cautions that, among other things, in view of the rapid changes in communications markets and technologies, and other risks including the cost and market acceptance of the company's new products, the level of individual customer procurements and competitive product offerings and pricing, and general economic circumstances, the company's business prospects may be materially different from forward-looking statements made by the company.
%SEDAR: 00008990E
For further information: Lindsay Malcolm, Investor Relations, lmalcolm@bsmwireless.com, 1-877-713-7465 (toll-free)