Mobility Electronics, Inc. (Nasdaq:MOBE), a leading
provider of innovative portable power and computing solutions for the
mobile electronic device user, today announced that Compact Power
Systems (CPS), makers of Cellboost(TM) disposable battery/chargers and
iRecharge by Cellboost rechargeable battery/chargers for cell phones,
camcorders, iPods, Gameboy's, PSPs and other portable devices, has
signed an agreement to utilize Mobility's itip technology in certain
future versions of its iRecharge by Cellboost product line and to
distribute select models of Mobility's universal power adapters.
Compact Power Systems' Cellboost and iRecharge by Cellboost battery/chargers supply supplemental or emergency power to dead or dying mobile electronic devices without the need for an electrical outlet. The use of itip technology will allow CPS to regulate the voltage and power output for various mobile electronic devices using interchangeable tips, augmenting its current approach of dedicated connectors and a different battery SKU for each type of device connector.
Per the terms of the agreement, CPS will purchase interchangeable tips directly from Mobility for distribution with its itip-compatible iRecharge by Cellboost batteries/chargers. CPS also has the right to purchase Mobility's universal power adapters to bundle with iRecharge by Cellboost batteries/chargers or to sell separately. Mobility expects to make its first shipment of tips to CPS in early 2006.
"This agreement further establishes our itip technology as a growing standard for the regulation of power for mobile electronic devices," said Charles Mollo, CEO of Mobility Electronics. "We are very pleased to gain exposure to back-up batteries, which is a rapidly growing segment of the portable power market. This relationship also provides access to the strong distribution network for the Cellboost brand, and we are optimistic about the future opportunities for our companies."
"The use of Mobility's itip technology will significantly enhance our efforts to expand the market coverage of the Cellboost and iRecharge by Cellboost brands to include batteries for a much wider array of mobile electronic devices," said Kai Clarke, President of Compact Power Systems. "Cellboost has proven to be extremely popular with mobile device users, which has helped us to grow our retail store count from 10,000 to more than 80,000 in the past year. We believe the use of itip technology will help us to further differentiate our products and continue generating strong growth in the Cellboost and iRecharge by Cellboost brands in the coming years."
About Compact Power Systems
Compact Power Systems is an innovative provider of portable power solutions. The company provides global portable power solutions to overcome today's energy limitations for cell phones, smart phones, camcorders, iPods, Nintendo Game Boy and DS, Sony PSP and other mobile devices. Compact Power Systems is based in Los Angeles, California. For more information, visit their Web sites at www.compactpowersystems.com or www.Cellboost.com.
About Mobility Electronics, Inc.
Mobility Electronics, Inc., based in Scottsdale, Arizona, is a designer and developer of universal power adapters for high-power (e.g., portable computers) and low-power (e.g., mobile phones, PDAs, digital cameras, etc.) mobile electronic devices, and is also the creator of the patented intelligent tip ("itip") technology. Mobility Electronics' iGo(R) brand offers a full line of AC, DC and combination AC/DC power adapters for high- and low-power mobile electronic devices. All these adapters leverage the Company's itip technology, which enables one power adapter to power/charge hundreds of brands and thousands of models of mobile electronic devices through the use of interchangeable itips.
The Company also offers hardware products for handheld devices; expansion and docking products for servers, desktop and portable computers through its MAGMA(TM) brand; and other accessories for the mobile electronic device market.
Mobility Electronics' products are available at www.igo.com as well as through leading resellers, retailers and OEM partners. For additional information call 480-596-0061, or visit www.mobilityelectronics.com.
Mobility Electronics and iGo are registered trademarks, and...improving your mobile experience is a trademark of Mobility Electronics, Inc. All other trademarks or registered trademarks are the property of their respective owners. This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the Company's expected revenues from Compact Power Systems, the timing of shipments to CPS, and the establishment of the itip architecture as a standard for mobile electronic devices. These forward-looking statements are based on management's current expectations and beliefs and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In particular, factors that could cause actual results to differ materially from those in the forward-looking statements include the loss of, and failure to replace, any significant customers, including Compact Power Systems; the timing and success of new product introductions; the development and introduction of new products by us and our competitors; the performance of suppliers and subcontractors; industry and general economic or business conditions; and other factors detailed in our filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements.
Compact Power Systems' Cellboost and iRecharge by Cellboost battery/chargers supply supplemental or emergency power to dead or dying mobile electronic devices without the need for an electrical outlet. The use of itip technology will allow CPS to regulate the voltage and power output for various mobile electronic devices using interchangeable tips, augmenting its current approach of dedicated connectors and a different battery SKU for each type of device connector.
Per the terms of the agreement, CPS will purchase interchangeable tips directly from Mobility for distribution with its itip-compatible iRecharge by Cellboost batteries/chargers. CPS also has the right to purchase Mobility's universal power adapters to bundle with iRecharge by Cellboost batteries/chargers or to sell separately. Mobility expects to make its first shipment of tips to CPS in early 2006.
"This agreement further establishes our itip technology as a growing standard for the regulation of power for mobile electronic devices," said Charles Mollo, CEO of Mobility Electronics. "We are very pleased to gain exposure to back-up batteries, which is a rapidly growing segment of the portable power market. This relationship also provides access to the strong distribution network for the Cellboost brand, and we are optimistic about the future opportunities for our companies."
"The use of Mobility's itip technology will significantly enhance our efforts to expand the market coverage of the Cellboost and iRecharge by Cellboost brands to include batteries for a much wider array of mobile electronic devices," said Kai Clarke, President of Compact Power Systems. "Cellboost has proven to be extremely popular with mobile device users, which has helped us to grow our retail store count from 10,000 to more than 80,000 in the past year. We believe the use of itip technology will help us to further differentiate our products and continue generating strong growth in the Cellboost and iRecharge by Cellboost brands in the coming years."
About Compact Power Systems
Compact Power Systems is an innovative provider of portable power solutions. The company provides global portable power solutions to overcome today's energy limitations for cell phones, smart phones, camcorders, iPods, Nintendo Game Boy and DS, Sony PSP and other mobile devices. Compact Power Systems is based in Los Angeles, California. For more information, visit their Web sites at www.compactpowersystems.com or www.Cellboost.com.
About Mobility Electronics, Inc.
Mobility Electronics, Inc., based in Scottsdale, Arizona, is a designer and developer of universal power adapters for high-power (e.g., portable computers) and low-power (e.g., mobile phones, PDAs, digital cameras, etc.) mobile electronic devices, and is also the creator of the patented intelligent tip ("itip") technology. Mobility Electronics' iGo(R) brand offers a full line of AC, DC and combination AC/DC power adapters for high- and low-power mobile electronic devices. All these adapters leverage the Company's itip technology, which enables one power adapter to power/charge hundreds of brands and thousands of models of mobile electronic devices through the use of interchangeable itips.
The Company also offers hardware products for handheld devices; expansion and docking products for servers, desktop and portable computers through its MAGMA(TM) brand; and other accessories for the mobile electronic device market.
Mobility Electronics' products are available at www.igo.com as well as through leading resellers, retailers and OEM partners. For additional information call 480-596-0061, or visit www.mobilityelectronics.com.
Mobility Electronics and iGo are registered trademarks, and...improving your mobile experience is a trademark of Mobility Electronics, Inc. All other trademarks or registered trademarks are the property of their respective owners. This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the Company's expected revenues from Compact Power Systems, the timing of shipments to CPS, and the establishment of the itip architecture as a standard for mobile electronic devices. These forward-looking statements are based on management's current expectations and beliefs and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In particular, factors that could cause actual results to differ materially from those in the forward-looking statements include the loss of, and failure to replace, any significant customers, including Compact Power Systems; the timing and success of new product introductions; the development and introduction of new products by us and our competitors; the performance of suppliers and subcontractors; industry and general economic or business conditions; and other factors detailed in our filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements.
© 2005 Business Wire
