Tiger Telematics' Gizmondo(tm) Streamlines Operational Framework Ready For US Expansion
Gizmondo to open an LA operation to facilitate pending USA launch.
LONDON, 6th July 2005 - Gizmondo Europe Ltd, subsidiary of Jacksonville, Florida-based Tiger Telematics Inc. (other OTC, TGTL), announces plans to open an office in Los Angeles, California by August 2005 prior to the launch of the Gizmondo in the USA, whilst streamlining its European operations to reflect a shift in emphasis towards the large North American markets and to prepare for future strategic initiatives by the company.
The new West Coast operation will work in tandem with the Florida-based parent office to exploit the music and movie-centric opportunities based in LA, as well and nurturing relationships with games publishers based in and around the West Coast, but its most significant mandate will be to facilitate and optimize sales and marketing opportunities in the USA, with the offices in Florida, Texas and California providing excellent geographic presence to maximize North American sales.
As part of the company-wide operational restructure and right sizing, Gizmondo Studios will be consolidated to maximize the efficiency and costs of game development. The overheads will also be reduced by half to reflect the co-publishing and development commitments from major game publishers, which has significantly lessened the need for internally biased game development programs. Some employees will be relocating as part of the move bringing teams in house, principally in the LA facility, which will host a new game development suite.
This new internal technology R&D team will specialize in developing gaming applications which utilize the unique GPS, camera technology, and GPRS connectivity of the device, following an ecstatic reception to work-in-progress titles, AgajuTM, ColorsTM and SupernaturalsTM at this year's E3 trade show in May.
Carl Freer, co-founder and Chairman, Tiger Telematics, says: "Over the past 18 months the company has grown aggressively and organically to meet the challenges of our primary launch territories. Now, following several months of internal consultation and investment scrutiny, we're able to streamline our European and development operations to ensure we're lean, effective, and structured appropriately for pending ventures."
The Gizmondo is powered by Microsoft Windows CE advanced real-time operating system, boasting a 2.8-inch TFT colour screen with a Samsung ARM9 400Mhz processor and incorporates the GoForce 3D 4500 NVIDIA graphics accelerator. It provides cutting-edge gaming, multimedia messaging, an MP3 music player, Mpeg4 movie playing capability, a digital camera and a GPRS network link to allow wide-area network gaming. Additionally, it contains a GPS chip for location-based services, is equipped with Bluetooth for use in multi-player gaming and accepts SD and MMC card accessories.
The Gizmondo device and its games are in retail stores now in the UK, launching in mainland Europe and North American from Summer 2005.
For further information please contact:
Global Media:
James Beaven
Indigo Pearl
+44 208 964 4545
US Media:
Bryan Lam
Kohnke Communications
(415) 777-4000
German Media:
Torsten Oppermann
Indigo Pearl DE
+49 40 25330267
French Media:
Frederic Henry
Frederic Henry Communications
+33 1 55 34 24 24
Editors Notes
About Tiger Telematics and Gizmondo
Gizmondo Europe Ltd. is an owned subsidiary of Tiger Telematics Inc (TGTL) and is the maker of Gizmondo, a next-generation mobile entertainment device. Launched in 2004, the gaming device includes built-in music, video, messaging and picture functions and GPS.
Tiger Telematics is a designer, developer and marketer of mobile telematics systems and services that combine global GPS functions and voice recognition technology to locate and track vehicles and people down to street level in countries throughout the world. The systems are designed to operate on GPS and are currently being marketed to GSM current and potential subscribers, primarily by the company's United Kingdom based subsidiaries.
The names of actual companies and products mentioned herein may be the trademarks of their respective owners. 'Gizmondo', 'Smart Adds', 'Tiger Telecom', 'Gizmondo Games', 'Colors', 'Agaju', 'Supernaturals' and the 'Gizmondo' logos and devices are trademarks of Gizmondo Europe Limited. All rights reserved.
Except for historical matters contained herein, the matters discussed in this press release are forward-looking and are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these forward-looking statements reflect numerous assumptions and involve risks and uncertainties that may affect Tiger Telematics, Inc. and its subsidiary businesses and prospects and cause actual results to differ materially from these forward-looking statements. Among the factors that could cause actual results to differ are Tiger Telematics Inc.'s operating history; competition; low barriers to entry; reliance on strategic relationships; rapid technological changes; inability to complete transactions on favourable terms; the schedule and sell-through for new software release; consumer demand for video game hardware and software; the timing of the introduction of new generation competitive hardware systems, pricing changes by key vendors for hardware and software and the timing of any such changes, and the adequacy of supplies of new software product and those risks discussed in the Company's filings with the SEC.
In light of the risks and uncertainties inherent in the forward-looking statements, these statements should not be regarded as a representation by Tiger Telematics, Inc. or any other person that the projected results, objectives or plans will be achieved. Tiger Telematics, Inc. undertakes no obligation to revise or update the forward-looking statements to reflect events or circumstances after the date hereof