05:02:17 EDT Tue 14 May 2024
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Prostar Holdings Inc
Symbol MAPS
Shares Issued 129,117,924
Close 2023-11-03 C$ 0.29
Market Cap C$ 37,444,198
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Prostar Holdings licenses PointMan to Radiodetection

2023-11-06 11:01 ET - News Release

Mr. Page Tucker reports

PROSTAR AND RADIODETECTION COLLABORATE TO OFFER A DYNAMIC PACKAGED SOLUTION

Prostar Holdings Inc. and Radiodetection, a division of SPX Technologies Inc., have entered into a commercial business collaboration, whereby Prostar has granted Radiodetection a non-exclusive worldwide licence to distribute PointMan and the rights to use PointMan to support the sale of Radiodetection utility locators.

Radiodetection is a world leader in the management of critical infrastructure and utilities, providing equipment and solutions designed to prevent damage and manage critical underground assets.

"We are delighted to collaborate with Prostar and to offer PointMan as part of a dynamic packaged solution now offered with our equipment," stated Thomas Turner, product management and marketing director of Radiodetection. "We recognize PointMan as being a leader in utility data collection software and the significant value that is provided by combining PointMan with our product line of utility locators."

Prostar is a world leader in the development of cloud and mobile precision mapping solutions designed to capture, record and display the precise location of critical infrastructure. PointMan software application is integrated with Radiodetection's products, and the parties have agreed that Radiodetection will sell PointMan together with Radiodetection's hardware as a package and/or separately as a software product.

"This marks a major milestone for us as Radiodetection is a world leader and a globally recognized brand name that provides us with a tremendous amount of exposure through their expansive distribution network that literally covers every region of the world," stated Page Tucker, chief executive officer of Prostar. "I think it is sufficient to say that this collaboration not only establishes PointMan as the leading provider of precision mapping solutions, but it also provides the industry a game-changing solution for all stakeholders involved in the construction, maintenance and management of buried infrastructure."

About Prostar Holdings Inc.

Prostar is a world leader in precision mapping solutions and is creating a digital world by leveraging the most modern GPS, cloud and mobile technologies. Prostar is a software development company specializing in developing patented cloud and mobile precision mapping solutions focused on the critical infrastructure industry. Prostar's flagship product, PointMan, is designed to significantly improve the workflow processes and business practices associated with the life cycle management of critical infrastructure assets both above and below the Earth's surface.

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