ProStar and Radiodetection Collaborate to Offer a Dynamic Packaged Solution

Rhea-AI Summary

ProStar Holdings has entered into a commercial business collaboration with Radiodetection, granting them a non-exclusive worldwide license to distribute PointMan and use it to support the sale of Radiodetection utility locators. Radiodetection is a leader in critical infrastructure and utilities management, while ProStar is a world leader in precision mapping solutions. This collaboration will provide ProStar with significant exposure through Radiodetection's expansive distribution network.

GRAND JUNCTION, Colo., Nov. 06, 2023 (GLOBE NEWSWIRE) -- ProStar Holdings Inc., (“ProStar^®” or “the Company”) (TSXV: MAPS) (OTCQX: MAPPF) (FSE: 5D00), a world leader in Precision Mapping Solutions, is pleased to announce that ProStar and Radiodetection, a division of SPX Technologies, Inc. (NYSE: SPXC), have entered into a commercial business collaboration, whereby ProStar has granted Radiodetection a non-exclusive worldwide license 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 & 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, CEO 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 Radiodetection:

Radiodetection is a world leader in the manufacture of cable and pipe locators for locating and tracing buried critical infrastructure and utilities. Together with sister companies Sensors & Software and Schonstedt, it provides equipment and solutions, designed to prevent damage, manage assets and protect lives; with a globally recognized range of tools and digital equipment dating back to 1977.

For more information, please visit www.radiodetection.com

About ProStar:

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 lifecycle management of critical infrastructure assets both above and below the Earth’s surface.

ProStar’s PointMan is offered as a Software as a Service (SaaS) and seamlessly connects the field with the office and provides the ability to precisely capture, record, display, and manage critical infrastructure, including roads, railways, pipelines, and utilities. Some of the largest entities in North America have adopted ProStar’s solutions, including Fortune 500 construction firms, Subsurface Utilities Engineering (SUE) firms, utility owners, and government agencies. ProStar has strategic business partnerships with the world’s leading geospatial technology providers, data collection equipment manufacturers, and their dealer networks. The Company has made a significant investment in creating a vast intellectual property portfolio that includes 18 issued patents in the United States and Canada. The patents protect the methods and systems required to digitally capture, record, organize, manage, distribute, and display the precise location of critical infrastructure, including buried utilities and pipelines. ProStar’s Executive management team has extensive experience in the management of both early-stage and Fortune 500 technology companies in the private and public sectors.

For more information about ProStar, please visit www.prostarcorp.com.

Contact:
Joel Sutherland
Investor Relations
970-822-4792

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements Regarding Forward-Looking Information

This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the terms and conditions of the Company’s future plans. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.

Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Company’s securities; the state of the technology sector; recent market volatility; the COVID-19 pandemic; the Company’s ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that the Company is unaware of at this time. The reader is referred to the Company’s recent Annual Management’s Discussion & Analysis filed on SEDAR + on April 21, 2023, for a more complete discussion of applicable risk factors and their potential effects, copies of which may be accessed through the Company’s issuer page on SEDAR + at www.sedarplus.ca.

FAQ

Who is ProStar Holdings?

ProStar Holdings is a world leader in Precision Mapping Solutions.

Who is Radiodetection?

Radiodetection is a division of SPX Technologies, Inc. and a leader in the management of critical infrastructure and utilities.

What is the collaboration between ProStar and Radiodetection?

ProStar has granted Radiodetection a non-exclusive worldwide license to distribute PointMan and use it to support the sale of Radiodetection utility locators.

What is PointMan?

PointMan is a utility data collection software developed by ProStar.

What does the collaboration mean for ProStar?

The collaboration with Radiodetection provides ProStar with significant exposure through Radiodetection's expansive distribution network.

What does the collaboration mean for Radiodetection?

The collaboration allows Radiodetection to offer PointMan as part of a packaged solution with their equipment, enhancing their product line of utility locators.