SARS Corp. Executes Agreement to Acquire Andronics Ltd

Business Wire,  Oct 30, 2007  

Tags: agreement

• E-mail
• Print
• Link

SARS Set to Gain Advanced Technology for Remote Monitoring of Liquefied Petroleum Gas

SEATTLE -- SARS Corp. (OTCBB:SARO) ("SARS"), a leading provider of remote asset management and telematics solutions, today announced that they have entered into a material definitive agreement with Andronics Ltd. ("Andronics"). This acquisition is part of SARS' commitment to deliver real-time business intelligence about fixed and mobile assets located anywhere in the world. Andronics develops two-way data solutions for monitoring and managing remote assets, specifically vehicles and liquefied petroleum gas ("LPG") tanks.

"Andronics has developed highly sophisticated technology for the remote monitoring of propane and butane gas tank levels via satellite," said Clayton Shelver, CEO of SARS. "The energy industry is a key opportunity for SARS, and this acquisition is a fundamental part of our strategy. We anticipate that this technology will have a significant impact on our growth in 2008."

Andronics' UtilityEye LPG system monitors remote LPG tanks, both above and below ground, identifies fuel levels and sends utility notifications when a tank is filled and/or transmits alarms when fuel levels drop to a predetermined level. UtilityEye LPG is equipped with a battery power supply, and information is communicated to the utility via Low-Earth Orbit (LEO) satellites, making monitoring reliable in remote locations.

In addition to the UtilityEye LPG system, Andronics develops LEOCATE, a solution that uses General Packet Radio Service (GPRS) technology to track and monitor the movement and location of vehicles. With LEOCATE, fleet managers receive automated email reports including data such as engine idle time, distance traveled, number of stops, hours worked and fleet utilization.

About Andronics Ltd.

Andronics Ltd., established in 1996 and headquartered in Northern Ireland, provides global two-way data solutions for monitoring and controlling remote assets. With a strong commitment to research and development, the company is widely recognized for its technical innovation and commercial success in telematics applications. For more information visit www.andronics.com.

About SARS Corp.

SARS Corp. provides remote asset management and telematics solutions that deliver real-time business intelligence about fixed and mobile assets anywhere in the world. With the Intelitrax software suite, business and government organizations in the marine, energy, transportation and other industries can track, monitor and manage assets for improved safety, better security and increased business efficiency. To learn more about how SARS is helping companies centralize and leverage asset intelligence, visit www.sarscorp.com.

To be added to SARS Corporation's e-mail distribution list, please click on the link:

http://www.b2i.us/irpass.asp?BzID=1598&to=ea&Nav=0&S=202&L=1

Safe Harbor Statement

The contents of this Press Release may contain forward-looking statements which can be generally identified as such because the context of the statement will include the words such as SARS Corp. "expects," "should," "believes," "anticipates" or words of similar import. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of SARS Corp., which could cause actual results, performance or achievements of SARS Corp. to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.

This Press Release does not constitute or form any part of any offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for any securities in any jurisdiction, nor shall it (or any part of it) or the fact of its distribution form the basis of, or be relied upon in connection with, or act as any inducement to enter into, any contract or commitment therefore.

"Forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995, may be included in this press release. These statements relate to future events and/or our future financial performance. These statements are only predictions and may differ materially from actual future events or results. SARS Corp. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Please refer to the documents filed by SARS Corp. with the Securities and Exchange Commission, which identify important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to, risks associated with our ability to (i) increase revenues, (ii) obtain profitability, (iii) obtain additional financing, (iv) manage changes in general economic and business conditions (including in the asset management and asset tracking industries), (v) react to actions of our competitors, (vi) develop new services and markets for our services, (vii) properly quantify the time and expense involved in such development activities, (viii) identify and manage risks in connection with acquisitions (ix) evaluate the level of demand and market acceptance of our services and (x) make necessary changes to our business strategies.

COPYRIGHT 2007 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning