AutoNavi Enters into Strategic Agreement to Form Largest Car Owner Service Platform in Guangdong, China
31 12월 2010 - 9:30PM
AutoNavi Holdings Limited ("AutoNavi" or the "Company")
(Nasdaq:AMAP), a leading provider of digital map content and
navigation and location-based solutions in China, announced today
that it has entered into a strategic agreement with other major
industry players to form the joint Guangdong Car Owner Service
Platform, the largest platform in Guangdong, China to provide car
owners with integrated all-around services including connected
navigation services in the area.
Powered by the vast wireless network of Guangdong Mobile, one of
China Mobile's largest subsidiaries with approximately 70 million
subscribers, the new platform will provide a broad offering of
high-quality services including in-dash calling, real-time traffic
updates, an internet network address book and information on travel
options, in addition to discounts on Guangdong highway tolls and
roadside assistance.
AutoNavi's Chief Executive Officer Mr. Congwu Cheng said of the
agreement, "Building off our long-standing relationship with China
Mobile, we are excited to enter into this strategic alliance by
offering high quality map data and highly integrated solutions.
Capitalizing on our synergies with China Mobile and our other
partners, we continue to look to expand and integrate our connected
navigation services with wireless carriers to deliver a seamless
end-user experience."
A signing ceremony was held on December 24, 2010 at the
Guangzhou Pazhou International Exhibition Center in Guangzhou,
China. Mr. Cheng participated in the ceremony together with
representatives from the State-owned Assets Supervision and
Administration Commission, the People's Government of Guangdong
Province and the Economic and Information Commission of Guangdong
Province and senior management from the other participating
institutions. In addition to China Mobile, the other member
companies include major industry players from both state-owned and
private enterprises.
About AutoNavi Holdings Limited
AutoNavi Holdings Limited (Nasdaq:AMAP) is a leading provider of
digital map content and navigation and location-based solutions in
China. At the core of its business is a comprehensive nationwide
digital map database that covers approximately 2.8 million
kilometers of roadway and over 12.5 million points of interest
across China. Through its digital map database and proprietary
technology platform, AutoNavi provides comprehensive, integrated
navigation and location-based solutions optimized for the Chinese
market and users, including automotive navigation solutions, public
sector and enterprise applications, wireless location-based
solutions and Internet location-based solutions. For more
information on AutoNavi, please visit http://www.autonavi.com.
The AutoNavi Holdings Limited logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8262
Forward Looking Statements
This press release contains forward-looking statements made
under the "safe harbor" provisions of Section 21E of the Securities
Exchange Act of 1934, as amended. These forward-looking statements
can be identified by terminology such as "will," "expects,"
"anticipates," "future," "intends," "plans," "believes,"
"estimates," "confident" and similar statements. Among other
things, quotations from management in this press release, as well
as AutoNavi's strategic and operational plans, contain
forward-looking statements. AutoNavi may also make written or oral
forward-looking statements in its reports filed with or furnished
to the U.S. Securities and Exchange Commission, in its annual
report to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Statements that are not historical
facts, including statements about AutoNavi's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: AutoNavi's ability to adequately maintain
and update its digital map database and minimize errors in its
solutions; its current reliance on the automotive navigation market
and a small number of customers for a substantial portion of its
revenues; the project-based nature of its public sector and
enterprise applications business; its limited operating history in
the wireless/Internet location-based solutions markets; compliance
with a complex set of laws, rules and regulations governing its
surveying and mapping and other businesses in China; competition in
the navigation and location-based solutions businesses in China;
and its ability to manage its growth effectively and efficiently.
Further information regarding these and other risks is included in
AutoNavi's registration statement on Form F-1 filed with the
Securities and Exchange Commission. All information provided in
this press release is current as of the date of the press release,
and AutoNavi undertakes no duty to update such information, except
as required under applicable law.
For investor and media inquiries please
contact:
In
China: |
|
Serena Shi |
AutoNavi Holdings Limited |
Tel: +86-10-5985-9538 |
E-mail: serena.shi@autonavi.com |
|
Derek Mitchell |
Ogilvy Financial, Beijing |
Tel: +86-10-8520-6284 |
E-mail: amap@ogilvy.com |
|
In the
U.S.: |
|
Jessica Barist Cohen |
Ogilvy Financial, New York |
Tel: +1-646-460-9989 |
E-mail: amap@ogilvy.com |
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