24 October 2007

Oskando aquires a significant share in software development company Median SD

Tallinn, October 24, 2007 -- Estonia’s leading telematics company Oskando has obtained a significant share of the software development company Median SD Ltd. Oskando is continuing its expansion in the vehicle and equipment management and tracking solutions segment.

Providing solutions based on GIS or Geographic Information System technology, Median SD's key products are its web and desktop-based GIS software solutions, including GPS navigation systems.

Median's map solution is developed using open source solutions which allows meeting clients' needs in a cost-effective way and a short period of time. Median SD is a relatively young company, having emerged from Tarkvarastuudio Ltd., an experienced provider of GIS solutions in the Estonian market.

One of the most important results of the collaboration between Oskando and Median so far has been the web-based service SeeMe, launched earlier this summer. SeeMe gives users a precise overview of the location and routes of their vehicles easily and free of charge from any computer connected to the Internet.

Ülle Kivirähk, CEO of Oskando, says that investing in Median is the next step in the company's strategic development in telematics. "Our goal is to create strong partnerships in order to provide effective and complete solutions for clients," she explained.

Merging the competences of the two companies will allow more flexible solutions. "Median has a good team oriented towards fruitful cooperation," Kivirähk said. "Together we'll be faster and more successful."

Since selling the majority of the shares to the investment company Ambient Sound Investments (ASI) in spring of 2006, Oskando has been focusing on product development and entering into new markets with the support of its investors. Oskando has also obtained shares in other companies.

Previously Oskando has acquired shares in two telematics companies - the vehicle management service providers Eurosat Group and the software platform development company Connecty.

Median SD

Median SDLtd. is a software development company based in Tartu founded by Tarkvarastuudio and Oskando. It is developing software and GIS (Geographic Information System) solutions. Median's key product is its map solution platform, developed using open source solutions to meet clients' needs in a cost-effective way and a short period of time. The company employs four people. For more information, see http://www.median.ee


Established as a development company in 1995, Oskando OÜ is involved in the development, production and sales of GSM and GPS-based equipment for vehicles. Since 2007 it has also been offering its clients complete telematics solutions to enhance the convenience of vehicle and equipment tracking and management. Oskando's products are sold in Estonia, Latvia, Finland, Sweden, Norway, Denmark, England, Ireland, Bulgaria and Russia. The company's expansion in the international telematics market has been supported by the investment company Ambient Sounds Investment which became the majority shareholder of Oskando in spring of 2006. The company employs 15 people. For more information, see http://www.oskando.ee and http://www.asi.ee

For further information, please contact:

Ülle Kivirähk
CEO, Oskando OÜ
Skype: ullekivirahk
Mobile: +372 50 11745
Kristjan Annus
Member of the Board, Median SD OÜ
Skype: kristjan_annus
Mobile: +372 51 31028