Press Release
@Road and Eaton Form Strategic Alliance
Both Companies Now Poised to Jointly Develop and Market Innovative Field Asset Management Solutions for the Global Commercial Vehicle Market
FREMONT Calif. (March 23, 2006) –@Road®, Inc. (NASDAQ: ARDI), a global provider of next-generation solutions for Mobile Resource Management (MRM), today announced it has entered into a strategic agreement with Eaton Corporation’s Vehicle Solutions business unit. Under the terms of the agreement, @Road and Eaton will cooperate on the development of a comprehensive Field Asset Management (FAM) solution as well as co-marketing and distribution initiatives within the global commercial vehicle market. The announcement was made today during a news conference held at the 2006 Mid-America Trucking Show at the Kentucky Fair & Exposition Center in Louisville, Kentucky.
Eaton Corporation (NYSE: ETN) is a diversified industrial manufacturer with 2005 sales of $11.1 billion. Eaton engages in the design, manufacture, marketing, and servicing of electrical systems and components; fluid power systems; truck drivetrain systems; automotive engine air management systems, powertrain solutions, and specialty controls worldwide. Once known as a vehicle components supplier, Eaton has diversified to include a broader industrial and commercial focus.
“By combining forces, we believe @Road and Eaton are well-positioned to leverage our respective strengths,” said Leo Jolicoeur, @Road chief marketing officer. “We look forward to working closely with Eaton and jointly developing and delivering advanced Field Asset Management solutions to the global commercial vehicle market.”
@Road and Eaton will work together on the joint development of a comprehensive Field Asset Management solution specifically designed to bring together innovative @Road® on-demand GPS-based location intelligence, real-time vehicle diagnostics, and wireless communication capabilities technology with Eaton’s industry-leading onboard diagnostic and safety systems. The agreement also enables both companies to market and distribute the jointly developed solution.
“Our alliance with @Road means we can combine our technologies to deliver an integrated solution that enables fleet owners to monitor their vehicles in real time, schedule vehicle downtime, monitor vehicle operational issues, and provide drivers with enhanced safety systems,” said Roderick Jones, manager of Eaton’s Vehicle Solutions business unit. “With the new solution that Eaton and @Road are working to bring to the commercial vehicle market, we expect to be able to better help fleet owners optimize vehicle performance and uptime while decreasing vehicle operating costs. Additionally, the legacy of service and credibility that our Roadranger representatives bring to the truck marketplace makes this alliance with @Road compelling for everyone – especially our customers.”
@Road Field Asset Management solutions are part of the @Road family of Mobile Resource Management solutions designed to help businesses large and small optimize the field service delivery process by automating the management of their mobile workers, their mobile workers' work and their mobile workers' assets. @Road Mobile Resource Management solutions integrate and leverage numerous state-of-the-art technologies, including next-generation high-speed wireless communications, global positioning system (GPS), hosted and licensed software applications, transaction processing and the Internet. @Road Mobile Resource Management solutions are offered in on-demand, on-premise or hybrid software delivery environments and can interface with most existing back-office software applications for enterprise-wide functionality and benefit across business processes.
Eaton’s understanding of base vehicle systems from the driveline perspective enables the company to bring to market innovative solutions such as its MD Mobile Diagnostics, a line of progressive diagnostic tools and solutions for the trucking industry. MD Mobile Diagnostics is designed to help fleets customize solutions to their specific service requirements and needs. The MD line includes vehicle link adapters, handheld scan tools, PC diagnostic software, vehicle vibration analyzers and PDA diagnostic software.
Additionally, Eaton’s VORAD Collision Warning Systems include forward, side and rear radar sensors designed to detect objects and vehicles in the vehicle’s intended path that may pose a hazard. In-cab display units with a series of warning lights and audible tones are intended to warn the driver of the presence of these objects and vehicles. These warnings are designed to give the driver added time to take any necessary action to avoid a collision. Eaton VORAD systems are also available with the optional SmartCruise, adaptive cruise control that helps maintain safe distances between vehicles in addition to accident recording and reconstruction and fleet information management systems.
About @Road
@Road, Inc. is a leading global provider of solutions designed to automate the management of mobile resources and to optimize the service delivery process for customers across a variety of industries. @Road delivers Mobile Resource Management solutions in three key areas: Field Force Management, Field Service Management and Field Asset Management. By providing real-time Mobile Resource Management infrastructure integrating wireless communications, location-based technologies, transaction processing and the Internet, @Road solutions are designed to provide a secure, scalable, upgradeable, enterprise-class platform, and are offered in on-demand software delivery, on-premise or hybrid environments that can seamlessly connect mobile workers in the field to real-time corporate data. @Road is headquartered in Fremont, Calif., and has a global presence with offices in North America, Europe and Asia. For more information on @Road solutions, visit www.road.com.
About Eaton Corporation
Eaton Corporation is a diversified industrial manufacturer with 2005 sales of $11.1 billion. Eaton is a global leader in electrical systems and components for power quality, distribution and control; fluid power systems and services for industrial, mobile and aircraft equipment; intelligent truck drivetrain systems for safety and fuel economy; and automotive engine air management systems, powertrain solutions and specialty controls for performance, fuel economy and safety. Eaton has 59,000 employees and sells products to customers in more than 125 countries. For more information, visit www.eaton.com.
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Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. These factors, risks and uncertainties include, but are not limited to, the ability of @Road and Eaton to develop and market Field Asset Management solutions pursuant to the strategic agreement; the ability of @Road or Eaton to comply with the terms of the strategic agreement; the risk that the parties may disagree in the future over the terms applicable to their relationship or the interpretation of one or more provisions of the strategic agreement; customer acceptance of the solution(s), if any, arising from the relationship between @Road and Eaton; and general economic and political conditions. Further information regarding these and other risks is included in the @Road Report on Form 10-Q dated November 8, 2005 and in its other filings with the Securities and Exchange Commission.
@Road and the @Road logo are trademarks or registered trademarks of @Road, Inc. All other trademarks or service marks used herein are the property of their respective owners.
Media Contact:
Bob Stern
@Road Media Relations Manager
510-870-1360
bstern@road-inc.com