Airbiquity Announces $25 Million Funding

Airbiquity Inc. today announced it has closed on $25 million in new funding that will help to support the company's rapid growth. The growth is being spurred by industry demand for its wireless data communications solutions currently deployed in more than eight million vehicles, enabling applications such as airbag notification, remote diagnostics, vehicle tracking and offboard navigation. The new funds will be used primarily to support Airbiquity's new and existing customers in their global expansion initiatives. Airbiquity will also use the funding to enter into the personal navigation device (PND) market and to bolster the development of the company's VIAaq managed data service which they announced in May 2007. The VIAaq service will launch with an automobile manufacturer in mid-2008. For the latest round of funding, Airbiquity's current investors, Acorn Ventures, Kirnaf LTD and Shell Internet Ventures, have been joined by Bellevue-based Ignition Partners. With extensive experience in the global wireless industry, Ignition Partners will provide important industry insights as Airbiquity continues to expand its international partner and customer portfolio. "We've been monitoring Airbiquity's momentum for years," said Steve Hooper, a founding partner of Ignition Partners. "Their recent performance and growth plans created an ideal opportunity for Ignition Partners to add another emerging technology leader to their investment portfolio." Ben Khudair, President of Kirnaf LTD, said, "We're happy to welcome Ignition Partners to the Airbiquity family. 2007 proved to be an exciting year for Airbiquity, and we are looking forward to an even more eventful 2008." Airbiquity's leadership team began to pursue new investment opportunities after a successful year that included major partnership and customer deals with industry players from around the globe looking to use Airbiquity's aqLink software in their telematics solutions. The aqLink technology uses the digital wireless voice channels for data transfer rather than relying on conventional wireless data transfer channels, expanding coverage areas and making data transmission more cost effective. Airbiquity's recent progress includes: -- The extension of Airbiquity's long-term contract with telematics leader OnStar to provide aqLink in all future OnStar-equipped vehicles. -- BMW of North America, LLC's integration of Airbiquity's technology into its BMW Assist system for time-critical emergency applications that include automatic collision notification. -- Use of aqLink in the successful pan-European eCall Feasibility Trial, opening the door to major automotive safety programs across Europe in the coming years. Partners in the trial included ADAC, Continental Automotive Systems, T-Mobile, Adam Opel, Automobile Club d'Italia, and the OAMTC. -- Partnership with Wavecom SA to integrate Airbiquity's GSM and CDMA in-band modem software technology into Wavecom's automotive and M2M wireless CPU(R) product line for automotive, industrial (machine-to-machine) and fleet management applications. "Vehicle-centric information and communication technologies (Vehicle ICT) are becoming real," says Thilo Koslowski, vice president and lead automotive analyst at Gartner Inc. "Over the next year the majority of vehicle manufacturers will finalize their individual Vehicle ICT strategies and select competent technology partners to meet financial goals and create competitive differentiation." Over the next year, Airbiquity will manage the first deployments of its recently announced VIAaq telematics service, an end-to-end communication system for the automotive and personal navigation industries. Built on aqLink technology, VIAaq provides the benefits of voice channel data transfer as well as access to, and hosting of, a variety of telematics services. Airbiquity's patented aqLink modem enables low-cost, two-way data connectivity on personal navigation devices through the use of a consumer's handset and the device's Bluetooth Hands-free profile. Services supported through Airbiquity's partner program include real-time traffic and navigation, concierge services, emergency calling features and more. The VIAaq solution accelerates OEM telematics launch schedules and significantly reduces operation and maintenance expenses associated with hosting or managing an independent data center, thereby lowering the overall cost of entry into the telematics arena. VIAaq's managed data service provides a flexible architecture to allow for expanded service offerings as mobile technologies grow and change over time. "The last two years have set the stage for major growth both within Airbiquity and the telematics industry as a whole. I am proud to say that Airbiquity now has four of the world's leading automobile manufacturers in its customer portfolio, demonstrating the exemplary performance of this company," said Kamyar Moinzadeh, president and CEO for Airbiquity. "The latest round of funding will allow us to develop VIAaq to its fullest potential while continuing to support demand for aqLink projects worldwide. The company is extremely pleased to have Ignition Partners as an investor." About Airbiquity Inc. Airbiquity provides wireless data communications solutions that enable product suppliers and service providers in the M2M and telematics industries to deliver reliable and ubiquitous wireless data services. Used by some of the largest automotive manufacturers globally in their telematics service offerings, Airbiquity's patented aqLink technology provides data communications over digital wireless voice networks. VIAaq, Airbiquity's turnkey managed telematics data service, provides seamless connectivity between telematics service providers and a vehicle or PND device for a relatively low cost of entry. Airbiquity was recently selected as one of the top 100 M2M companies for 2008. To learn more about Airbiquity, please visit their web site www.airbiquity.com. Airbiquity, aqLink and VIAaq are trademarks of Airbiquity Inc. Ignition Partners Joins Acorn Ventures, Kirnaf LTD and Shell Internet Ventures in Financing Round to Support New VIAaq Managed Data Service and International Growth