LBT and Jabil Sign Agreement
Location Based Technologies and Jabil Sign Manufacturing Services Agreement for PocketFinder
ANAHEIM, Calif.–(BUSINESS WIRE)–Location Based Technologies (OTCBB:LBAS – News), a leading-edge family service provider of personal GPS locator devices and services, today announced it has selected Jabil Circuit, Inc. (NYSE:JBL – News), a global electronic product solutions company, to manufacture the PocketFinder family of location devices.
Under the terms of the comprehensive manufacturing services agreement, Jabil will also test, configure, and assemble the PocketFinder family of personal GPS locators which use advanced technology to help families stay connected. The small devices easily fit into a pocket, purse or backpack, and can be accessed via the Internet, cell phone or landline to show its exact location in real time.
“This agreement commences what we expect to be a long-term partnership that offers us the ability to deliver a world class quality product in the highly complex and competitive consumer electronics market and optimize overall manufacturing capabilities,” said David Morse, co-president and CEO of Location Based Technologies, Inc. “Jabil is one of the world’s largest electronics manufacturing service providers with facilities on three continents, so we know they are capable of supporting our volume requirements.”
“We are delighted to become the preferred supplier to Location Based Technologies and hope to build on this relationship in the years to come,” said Steve Borges, vice president, business development, for Jabil. “Moreover, we believe this agreement strengthens our position in the overall consumer electronics industry and enhances our global standing as a leading provider of location based devices.”
PocketFinder personal GPS location devices are unique because they were designed from the ground up rather than as an add-on product. Location Based Technologies conducted a series of use cases to determine what people really wanted and has used this granular level of understanding to design the product, the interface and the network infrastructure to meet those needs.
PocketFinder personal GPS locators include several advanced features, such as allowing users to designate customizable alert areas as electronic “fences” to notify them when a family member or pet leaves or enters a specified area. The devices can even track vehicle speeds to ensure family members are driving safely.
Jabil is an electronic product solutions company providing comprehensive electronics design, manufacturing and product management services to global electronics and technology companies. Jabil helps bring electronics products to the market faster and more cost effectively by providing complete product supply chain management around the world. With more than 75,000 employees and facilities in 20 countries, Jabil provides comprehensive, individualized-focused solutions to customers in a broad range of industries. Jabil common stock is traded on the New York Stock Exchange under the symbol, “JBL”. [Monday June 2nd, 2008]
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