MONTREAL, July 11, 2006 (PRIMEZONE) -- Fujitsu Transaction Solutions Inc. today announced that they have signed a strategic reseller agreement with AbsoluteSKY, Inc. (Pink Sheets:ABSY) to offer AbsoluteSKY's intelliTRACKER(ym) product suite to retailers for real-time item-level tracking. The solution provides a broad range of customer benefits that include increased inventory turns, virtual elimination of missed sales and extensive control over loss prevention.
By virtue of this strategic relationship, the companies are assertively responding to the fact that item-level inventory tagging is a growing imperative in the retail industry. As highlighted in a December 2005 survey of retail managers conducted by AMR Research, Boston, 42% of respondents say that item-level tagging will be one of their organization's most strategically important technology investments over the next 12 to 24 months.
Under terms of the agreement, Fujitsu will resell intelliTRACKER(tm) into its extensive base of current and prospective retail customers. The agreement also sets the structure for AbsoluteSKY, an innovator in RFID-based inventory tracking systems, to resell Fujitsu products into its customer base.
"Fujitsu's enormous market presence and reputation for reliable, quality service is a major plus as we bring this powerful value proposition to the retail market," remarked John Frabasile, president and CEO of AbsoluteSKY. "Together we are first-to-market with a breakthrough solution that delivers measurable benefits and a clear ROI to the specialty retailer, as well as the ability to meaningfully and fundamentally improve day-to-day operations."
IntelliTRACKER(tm) technology (patent-pending) integrates with retailers' enterprise and store-level systems, providing an unprecedented level of inventory visibility and operational enhancements -- automating such functions as store receiving, stock replenishment, warehouse receiving and shipping, as well as tracking and control of markdown counts, style-aging and store-to-store transfers. The system also brings Loss Prevention to a whole new level, well beyond the capabilities that Electronic Article Surveillance (EAS) systems have demonstrated in the marketplace today.
"RFID is widely regarded as the next transformational technology for retail operations," said Austen Mulinder, president and CEO of Fujitsu Transaction Solutions. "Combining the capabilities of AbsoluteSKY's RFID solutions with Fujitsu's product portfolio will enable retailers to fully realize the benefits of RFID technology in the store environment."
About AbsoluteSKY, Inc.
AbsoluteSKY, Inc. (Pink Sheets:ABSY) specializes in the design, development and implementation of Radio Frequency IDentification (RFID) technology that provides real-time item-level inventory tracking for retail customers. Based in Montreal, Canada, the Company's business model combines strategic, creative and technical skills to deliver solutions that help its clients achieve their business objectives through the use of AbsoluteSKY's breakthrough technology and extensive knowledge of their business operations. For more information visit: www.AbsoluteSKY.ca.
About Fujitsu Transaction Solutions Inc.
Fujitsu Transaction Solutions Inc., a wholly owned subsidiary of Fujitsu Limited (TSE:6702), collaborates with retailing companies to relentlessly reduce their costs and facilitate consumer interactions that drive improve their profitability. Fujitsu's Pervasive Retailing(tm) approach enables companies to minimize the time, cost and risk of creating interoperability between disparate applications and devices that support a multitude of consumer touch points. Fujitsu's offering includes solution software, point-of-sale store technology, U-Scan self-checkout systems, self-ordering systems and multi-vendor lifecycle services. Customers include Canadian Tire, Chevron Corporation, Hallmark, Hannaford Bros., H-E-B, Kroger, Loblaws, Nordstrom, Payless ShoeSource, Regal Cinema, Staples, Stop & Shop and The TJX Companies, among others. The company also has a joint venture with Retalix Ltd. (Nasdaq:RTLX) in StoreNext Retail Technologies LLC, the No. 1 supplier of retail technology to independent grocers and regional chains. Web site: http://us.fujitsu.com/retailing.
AbsoluteSKY's Safe Harbor Statement
Except for any historic information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, which are subject to section 27A of the Securities Act of 1933 and section 21E of the Exchange Act of 1934, and are subject to safe harbor created by these sections. Any statements that express or involve discussions with respect to predictions, beliefs, plans, projections, objectives, goals, assumptions of future events or performances are not statements of historical fact and may be "forward looking statements". Forward-looking statements in this release may be identified through the use of such words as "expects," "anticipates," "estimates," "believes," or statements indicating certain actions "may," "could," or "might" occur. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements, which involve numerous risks and uncertainties, including the Company's ability to market its products and services in a competitive environment as well as other factors.