Inforetech, Asian GPS Deal
By Staff Writer | June 4, 2003
Inforetech Wireless Technology [OTCBB: WYRE], a Vancouver, British Columbia-based supplier of Global Positioning System (GPS) technology for the golf industry, has concluded a five-year distribution agreement with Asian GPS Golf valued at $6.1 million. The deal covers China, Hong Kong, Macau and gives Asian GSP Golf first right of refusal for additional Asian territories.
According to the terms of the agreement, Asian GPS Golf will acquire its first GPS-based golf management system from Inforetech within 60 days with plans to expand to a minimum of 32 courses over the next five years.