News

July 24, 2009, Ottawa, Canada:  Real-time GPS tracking technology firm Waypoint Information Technology Inc. announced today that the company is rebranding itself as troo Corporation.

The name change is part of a strategy the Company launched earlier this year to expand its current product offerings to include the sale of complete solutions for local fleet operators.  The company will offer hardware, installation, provisioning and airtime to round out its tracking product suite.

Along with this expanded product choice, the company is introducing billing plans for which operators can pay month-by-month without having to sign long-term contracts.  Seasonal operators will find this billing option more appealing than the traditional 3-year plans sold by telematics and wireless carriers.

trootrack™ will be the new name for the Company's flagship product, (previously called Panorama™ Tracker™), a scalable, easy-to-use, and rebrandable hosted Web GPS tracking service for operators of large private or public fleets. Today, troo is releasing trootrack™ version 3.3, which includes more points-of-interest, improved search capability, faster map navigation and client-side data caching for faster map refresh.  All the features introduced are designed to improve efficiency when managing large fleets as well as other mobile and fixed assets.

To support the new strategy, the company has brought in seasoned technology executive Joel Bisson as Chief Operating Officer to oversee the expanded operations. Mr. Bisson previously held the position of CEO at PixeLINK and Vitana.

In addition to strengthening the management team, troo has recently raised funding of over $1.4M from various government sources including the Business Development Bank of Canada (BDC) and Industrial Research Assistance Program (IRAP).

"The company has developed a leading, hosted tracking service that we're now bringing to the broader fleet management space.  Our bundled packages will allow operators to deploy and use our system quickly and easily, without incurring unnecessary high costs during difficult economic times", Mr. Bisson said.

The Telematics Research Group (TRG), a leading telematics intelligence research organization based in Minnetonka, MN predicts that over 75% of vehicles in North America will have telematics devices onboard by 2012 and the worldwide number is expected to exceed 100 million vehicles. By 2011 this will represent subscriber revenues of US $1.7 billion in the US and over US $4.5 billion worldwide.

About troo Corporation

With over 400 customers and partners operating in over 50 countries, troo's product offering is used for a wide range of applications from tracking busy commercial fleets - aircraft, light commercial vehicles and off-shore marine assets - to managing fixed assets or monitoring individuals for safety and security.

As a leader in mobile resource management, the company's product portfolio consists of comprehensive and robust mobile asset tracking solutions for fleet management companies and other Telematics OEMs, Wireless Carriers, Systems Integrators and Service Providers.

The company prides itself on delivering a customer experience that is second-to-none from pre-sales, to evaluation, to provisioning, to full deployment.  More information about troo is available at www.troocorp.com.