27 November 2006

Ülle Kivirähk joins Oskando

TALLINN, November 27, 2006 – Starting from next year the former Managing Director of Ordi Ülle Kivirähk will take up the position of CEO at Oskando. Current CEO Indrek Hirvlaan will remain responsible for product development and partnership relations.

Big investor of Oskando, Investment group Ambient Sound Investments (ASI) explains the CEO change in Oskando with the need for extra know-how necessary for faster growth of the company. ASI is planning to keep investing in telematics, especially in export and service development. Talks for cooperation are in progress with companies from Estonia as well as from abroad.

"The purpose of changes in Oskando is to take the company to a new level," said Toivo Annus, ASI CEO. "The change of CEO is a part of a long-term plan of hirings, investments and cooperation agreements," Annus added. According to technical director of Falck Andrus Jauk cooperation with Oskando current CEO Indrek Hirvlaan has always been fruitful and pleasant. "Indrek has the ability to see the needs of the client and to keep up the level of service,” said. Starting from next year Indrek Hirvlaan will be responsible for the company's product development and partnership relations.

Oskando

Oskando was established in 1995 and it specializes in the development, production and sales of GSM and GPS based security and positioning devices for motor vehicles and small boats. Oskando sells it products in Estonia, Latvia, Finland, Norway, England, Ireland, the Netherlands, France and Italy. The company employs 14 people.

Ambient Sound Investments

The investment group Ambient Sound Investments, established by the four founding engineers of Skype, has invested in six technology companies since March 2006. Investment portfolio includes the following companies: semiconductor developer Clifton, remote tracking device producer Oskando, radio communications technology developer Modesat Communications, telemetry company Connecty, time stamping technology developer GuardTime and electronics manufacturer Evikon MCI. For more information, please visit: http://www.asi.ee/


Indrek Hirvlaan
CEO, Oskando
+372 683 4548
indrek.hirvlaan@oskando.ee
www.oskando.ee


Toivo Annus
CEO, Ambient Sound Investments
toivo@asi.ee
www.asi.ee