ICNET, Nucleus launch vehicle locating device

ICNET, a Chennai-based telecom and software services company, and Nucleus Group have launched a vehicle locating device product targeted at the transport and travel industries.

They have signed a memorandum of understanding (MoU) by which ICNET will market the product in India. The MoU also provides for design and development for a new product with added special features that will be marketed globally.

The product will help track mobile and valuable goods and assets using geographic information system (GIS), general packet radio service (GPRS) and global positioning system technology.

The cost for the product is a one-time hardware cost which varies between Rs 22,000 and Rs 25,000 and a variable subscription cost for the software and service. The subscription cost would vary according to the number of vehicles and complexity of the service provided to a company.

The MoU between ICNET and Nucleus for domestic sales envisages the former garnering the software and subscription fee while the proceeds from hardware sales will be collected by Nucleus.

"The technology design is largely ours while ICNET's expertise will be used to market the product in India," said Asit C Mehta, chairman, Nucleus Group.

However, this revenue arrangement will be reversed for the product to be launched in the international markets, scheduled for sometime in the next two to three months.

"We are jointly developing a similar vehicle locating device product for the international market. ICNET will provide the development expertise while Nucleus will market it," said C Padmanabhan, chairman and managing director, ICNET. The company plans on achieving a turnover of Rs 35 crore from vehicle product sales alone this year.

Initially, the marketing foray will be limited to Tamil Nadu, Karnataka, Andhra Pradesh, Maharashtra and New Delhi.The other features of the product include two -way voice communication, SMS and route monitoring.