GRAND JUNCTION, Colo., Feb. 26, 2024 (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 a technology integration with Topcon Corp (TYO: 7732). The integration combines ProStar's utility mapping software, PointMan®, and Topcon's fixed and portable GNSS antennas. The technology integration provides Topcon users with a seamless and easy to use utility data collection solution to capture, record, and display the precise location of critical underground infrastructure anywhere in the world.
"It's imperative from a strategic business relationship standpoint to forge collaborative partnerships with best-in-class solution providers, fostering symbiotic relationships across the situational awareness sector," said Scott Wielt, Senior Product Manager, Topcon. "PointMan stands out unequivocally as a premier utility mapping solution that enhances our extensive suite of asset mapping and utility data collection solutions."
The technology integration of PointMan with Topcon GNSS receivers means that PointMan now supports Topcon Hiper VR highly versatile GNSS receivers for mobile devices running the Google Android operating system. The seamless integration empowers Topcon users with PointMan's unparalleled precision in subsurface utility mapping.
The completion of the integration with Topcon marks a major milestone for ProStar as it means PointMan is now integrated into every major utility detection hardware equipment manufacturer and is consistent with the Company's strategy is to maximize the probability of market share dominance. ProStar's has now established strong strategic business partnerships with the world's leading equipment manufacturers of cable and pipe locate devices, ground penetrating radar, and GPS/GNSS receivers. These partnerships represent indirect global sales distribution channels in a variety of industry sectors. Further, it allows clients to leverage PointMan with legacy equipment with no additional investment required in hardware.
"We're thrilled about the collaboration with Topcon and their dynamic product development team," affirmed Page Tucker, CEO of ProStar. "This partnership significantly enriches our worldwide distribution network, leveraging Topcon's esteemed reputation as a global frontrunner in delivering utility data collection solutions, precision GNSS receivers and machine control systems. By creating business partnerships with all of the major hardware manufacturers in the utility detection space including electromagnetic utility locate devices, ground penetrating radar, as well as GPS/GNSS receivers, ProStar materially has positioned itself to dominate market share for utility mapping over the coming years."
About Topcon Positioning Group
Topcon Positioning Group, always one step ahead in technology and customer benefits, is an industry leading designer, manufacturer and distributor of precision measurement and workflow solutions for the global construction, geospatial and agriculture markets. Topcon Positioning Group is headquartered in Livermore, California, U.S. (topconpositioning.com, LinkedIn, Twitter, Facebook). Its European head office is in Zoetermeer, the Netherlands. Topcon Corporation (topcon.com), founded in 1932, is traded on the Tokyo Stock Exchange (7732).
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
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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.
