Novatel Wireless Commercializes its MT 3050 Asset Management Solution for High Growth M2M Vertical Markets
Full Featured OBD-II Solution Ideal for Commercial and Consumer M2M Telematics
SAN DIEGO--(BUSINESS WIRE)-- Novatel Wireless, Inc. (NAS: NVTL) , a leading provider of intelligent wireless networking solutions, today announced that its MT 3050 device has received technical approval from Verizon Wireless. The MT 3050 is a mobile tracking OBD-II device which reduces up-front costs for insurance telematics and fleet management applications with easy, plug-and-play installation and industry-leading small form factor. The new MT 3050 also features integrated disconnect alert supported by an in-device backup battery.
The MT 3050 is an ideal solution for insurance telematics and fleet management providers who are looking for information on the vehicle, vehicle location or driver behavior resulting in productivity improvements and cost reductions for customers. Unlike wired telematics devices, the innovative plug-and-play device with internal antennas removes vehicle installation costs and associated vehicle out-of-service time, thereby lowering total up-front costs.
"The MT 3050 is a versatile mobile tracking device applicable across numerous market segments such as automotive Insurance, safety/security and roadside assistance, vehicle servicing, driver behavior management, and fleet management," said Joe Peterson, Global Sales VP of Novatel Wireless M2M business. "Regardless of application, our customers are realizing productivity improvements and cost reductions with fast time-to-market and easy deployments. We are thrilled to be able to offer our customers this sophisticated OBD II device - now on the Verizon Wireless network," Peterson continued.
The MT 3050 features Novatel Wireless' on board rules engine that supports customer-defined exception-based rules for applications such as ignition, geo-fencing, trip reporting and other events. It also has built-in threshold events to capture metrics critical to effective fleet and insurance monitoring such as excessive engine speed, rapid acceleration, harsh braking, speed violations, and excessive idling. The MT 3050 can be coupled with Novatel Wireless' robust N4A Communications and Management Software platform to monitor, manage and reconfigure devices remotely from almost anywhere in the world.
Mike Scarbrough, CEO of NexTraq commented: "We are pleased to partner with both Novatel Wireless and Verizon Wireless to continue to offer our customers the most comprehensive hardware offering in the telematics space. As a first-to-market GPS fleet tracking company, it's important to partner with companies that provide the most innovative solutions."
About Novatel Wireless
Novatel Wireless, Inc. is a leader in the design and development of intelligent wireless solutions based on 2G, 3G and 4G technologies providing wireless connectivity. The company delivers specialized wireless solutions to carriers, distributors, retailers, OEMs and vertical markets worldwide. Product lines include MiFi® Intelligent Mobile Hotspots, Ovation™ USB modems, Expedite® embedded modules, Enfora® smart M2M modules, and Enfora integrated M2M solutions. These innovative products provide anywhere, anytime communications solutions for consumers and enterprises. Headquartered in San Diego, California, Novatel Wireless is listed on NASDAQ: NVTL. For more information please visit www.nvtl.com. (NVTLG)
This release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, as amended to date. These forward-looking statements involve risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements contained herein. These factors include risks relating to technological changes, new product introductions, continued acceptance of Novatel Wireless' products and dependence on intellectual property rights. These factors, as well as other factors that could cause actual results to differ materially, are discussed in more detail in Novatel Wireless' filings with the United States Securities and Exchange Commission (available at www.sec.gov) and other regulatory agencies.
(C) 2013 Novatel Wireless, Inc. All rights reserved. The Novatel Wireless name and logo and Enfora are trademarks of Novatel Wireless, Inc. Other Company, product or service names mentioned herein are the trademarks of their respective owners.
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