The partnership provides a value-added service, combining NXGen's asset tracking solutions with Auctions International's AutoBidLive.com, to wholesale automobile dealers, providing affordable and personalized solution for vehicle tracking, vehicle history reporting and purchasing.
Gene Hew-Len, CEO of NXGen, Inc., stated, "This new alliance is in line with our newly refocused strategy. Combining NXGen's Telematic asset tracking solutions and Auctions International's AutoBidLive.com online tools positions us to expand our sales efforts, broaden our customer base, and provide a superior, value-added service to customers."
Douglas Mann, president of Auctions International, Inc., said, "NXGen shares AutoBidLive's goal to transform the wholesale automotive industry into a highly-efficient machine. Together, we are marketing a very compelling, affordable and personalized solution for vehicle tracking, vehicle history reporting and purchasing. We anticipate our joint marketing efforts can significantly broaden our respective customer bases to achieve critical mass in North America."
About Auctions International, Inc.
Through its wholly owned subsidiary AutoBidLive, Auctions International Inc. is set to bring together over 65,000 North American licensed pre-owned auto dealers into a dynamic online auction reducing their dependence on physical auctions. By utilizing state-of-the-art technology, dealers can make bids in real time, move inventory, and search and buy vehicles specific to consumers' needs. For more information, visit http://www.AutoBidLive.com.
NXGen Holdings, Inc., through its wholly owned subsidiary NXGen, Inc., is focused on providing solutions to commercial fleet operators, enhancing their productivity and operating efficiencies. NXGen specializes in the emerging, multi-billion-dollar GPS/telematics industry. NXGen's mission is to become a recognized leader in this industry by aggressively investing in new acquisitions, building strategic alliances and securing strategic partnerships with companies on the cutting edge of the GPS and telematics development -- thereby creating value for its shareholders.
For more sales and product information please visit the company website at www.nxgengps.com or call 360-782-0169.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although NXGen Holdings, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate and, therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by NXGen Holdings, Inc. or any other person that the objective and plans of NXGen Holdings, Inc. will be achieved. Contact Information: NXGen, Inc. Gene Hew-Len, 360-782-0169