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Satelinx International Forms U.S. Based Joint Venture
Satelinx International Inc., a global provider of satellite vehicle tracking, said it reached a three-year licensing agreement with an unnamed New York-based operating corporate group to form Satelinx USA Inc. The agreement stipulates that Satelinx International and the operating group will share profits from all Satelinx USA operations. The agreement grants Satelinx USA a license to market and distribute all Satelinx International products and services throughout the United States. It requires annual sales of 15,000 units with annual growth of at least 10 percent. It is estimated that the joint venture will result in at least $23 million or more in sales of Satelinx vehicle tracking services alone.
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