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GTX Corp (GTXO.OB) Retains Alteon Capital Partners to Formalize Global Expansion Strategy
After years of planning and development, GTX Corp (GTXO.OB), a company that has created miniaturized GPS tracking and cellular location-transmitting technology platforms, is now in a position to get products into the hands of consumers. GTX has created 2-way Global Positioning Systems (GPS) and Position Location Systems (PLS) that can be applied to customized products. The company recently announced that Alteon Capital Partners has been retained to advise GTX in the launch of its products.
With the addition of Alteon Capital Partners, GTX continues to follow its strategy to build a team of premier strategic advisors. Alteon specializes in advising clients on financing, transformation and repositioning, corporate development, and value recovery services. Estimates indicate that by 2011 there will be more than four billion mobile handsets worldwide. Dr. Gilbert Amelio, managing partner at Alteon, will take a lead role in advising the company on advancing its products into the GPS/PLS niche. Dr. Amelio will assist the executive team in formalizing a deployment strategy to increase its market share with the launch of its two newest products, LOCi Mobile and Code Amber News Service (CANS).
“2-way GPS in concurrence with the proliferation of four billion cell phones represents a seismic shift in the marketplace. Subscribers want to receive and interact spontaneously to life’s circumstances,” stated GTX CEO and President, Patrick Bertagna. “As GTX continues to architect its platform we look forward to working with Dr. Gil Amelio who has continuously transformed the technologically complex into widely adopted user friendly formats.”
Dr. Amelio brings over 35 years experience in the high technology sector. He earned his Ph.D. from Georgia Institute of Technology and has been awarded 16 patents. Dr. Amelio has held a number of executive level positions including Chairman and CEO of Apple Computer, Inc., Chairman, President and CEO of National Semiconductor Corporation, Group President of Rockwell International, and Chairman and CEO of Jazz Technologies. Along with being an active member of the venture capital community, Dr. Amelio currently sits on the Board of Directors of AT&T.
“As GTX Corp approaches the tipping point of readiness in consumer adoption, I am enthusiastic about being a part of this next wave of consumer PLS applications. Allowing users to customize and personalize geo-location information opens up a tremendous marketplace,” Amelio recently stated. “This expanded capability should make 2-way GPS ubiquitous. GTX Corp’s ability to license a customizable platform will address the healthy and ramping demand for these applications. Now that the company has harnessed this unique technology, I welcome the opportunity to help steer GTX Corp during its passage from an early stage company to a corporation on the global stage.”
