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OSI Geospatial Launches “Layered Security Solutions” Business Unit to Address National Security and Business Continuity Critical Infrastructure Protection Market
Vancouver, Canada — OSI Geospatial Inc. (TSX: OSI; OTCBB: OSIIF) announced today that it has launched a new U.S. business unit, “Layered Security Solutions” (LSS), to provide integrated vulnerability assessments, technology and operational solutions for the government national security and commercial business continuity critical infrastructure protection (CIP) market. CIP is a major concern and a high priority for the U.S. and many other countries around the world. The global CIP market outlay for 2006 was US$23 billion, and it is forecasted to increase to more than US$56 billion by 2015. The global national security market outlay for 2006 was US$136 billion, and it is forecasted to increase to more than US$286 billion by 2015.
The new business unit will be led by Commander James G. Liddy USN SEAL (Ret.) the former leader of the U.S. Navy’s elite Anti Terrorism / Force Protection Assessment Program, ”Red Cell” and co author of the New York Times best seller, “Fight Back, Fighting Terrorism Liddy Style.” “A significant aspect of vulnerability assessments is to identify operational and technology solutions that help to mitigate risks and maximize recovery. OSI is well positioned to leverage many of its existing technologies to provide these solutions,” said James Liddy, vice president of Layered Security Solutions. “With the establishment of the LSS team, OSI is well positioned to offer unique technology solutions to the CIP market, and I am confident that we will become a key solutions provider in the U.S. and internationally.”
“I am very pleased that Commander Liddy and his team have joined our company,” said Ken Kirkpatrick, president and CEO of OSI Geospatial. “The expertise of the LSS team gives OSI immediate credibility and the specialized skills necessary to package and transition our situational awareness solutions into the rapidly expanding CIP market. The CIP market will grow significantly over the next 10 years, and OSI is now firmly positioned to pursue business in this large market.”
About the LSS Team
The LSS team, led by Commander James G. Liddy, consists of an elite group of subject matter experts with extensive experience in integrated vulnerability assessments (IVA), asymmetric tactics, law enforcement undercover operations, intelligence gathering, trend analysis, engineering and systems analysis, logistics, transportation and communications. This team’s expertise was developed through the combined experience of more than 250 integrated vulnerability assessments of critical infrastructure sites around the world. LSS operations involve “pre-targeting activities” including elements of reconnaissance, surveillance, elicitation, intelligence collection and vulnerability analysis supported by open source data analysis. The team develops a concept of operations specific to the needs and dynamics of the organization. Pre-targeting activities include identifying probable and likely threats from the improbable or unlikely threats. Then through critical node mapping and systems integration analysis, the LSS team further identifies vulnerabilities to possible cascading effects on critical operational functions, population, transportation and the economy of the affected region.
About the Critical Infrastructure Protection (CIP) Market
“Critical infrastructure” is defined as “systems and assets, whether physical or virtual, so vital to a country that the incapacity or destruction of such system and assets would have a debilitating impact on security, national economic security, national public health or safety, or any combination of those matters.” The critical infrastructure sectors includes, Agriculture, Banking and Finance, Chemical and Hazmats, Defense Industrial Base, Emergency Services, Energy, Food, Government, Information Technology and Telecommunications, Postal and Shipping, Public Health and Health Care, Transportation and Drinking Water and Water Treatment Systems. The U.S. CIP market outlay for 2006 was US$17 billion, and it is forecasted to increase to more than US$33 billion by 2015. The International CIP market outlay for 2006 was US$6 billion, and it is forecasted to increase to more than US$23 billion by 2015. The world-wide CIP market outlay for 2006 was US$23 billion, and it is forecasted to increase to more than US$56 billion by 2015.
About OSI Geospatial
OSI Geospatial Inc. delivers advanced geospatial systems and software that enable shared real-time situational awareness for military, safety and security applications. Our products and services enable our customers to integrate and visualize live data with any combination of sensor data, imagery, maps and charts. This capability provides our customers with enhanced operational performance, safety and security through shared real-time situational awareness. OSI Geospatial systems and software are in use by military, government, and commercial customers around the world. The company is publicly traded on the Toronto Stock Exchange (OSI) and the Over the Counter Bulletin Board (OSIIF). For additional information please visit www.osigeospatial.com.
Forward-Looking Statements
Certain statements made in this news release that are not based on historical information are forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934 and Section 138.4(9) of the Ontario Securities Act. These forward-looking statements are subject to risks and uncertainties. Actual results may differ from these projections. The risks associated with the Company's business include risks related to its reliance on international government contracts; the number of large customer transactions and the related lengthy sales cycles in executing those opportunities; uncertainties associated with competitive bidding processes and contract negotiations; actions by government authorities; the effects of general economic and political conditions; changing foreign exchange rates; and challenges related to the company's ability to introduce, develop and implement new products and enhancements to existing products that respond to customer requirements in a changing, complex, technological market. A complete discussion of the company’s risk factors is presented in the company’s most recent annual reports, filed with the United States Securities and Exchange Commission (“SEC”) and the Canadian Securities Administrators (“CSA”), as well as other periodic reports filed with the SEC and the CSA. The Company does not undertake any obligation to update the forward-looking statements.
Copyright © 2007 OSI Geospatial Inc. and its affiliated or related companies. ECPINS and COP-IDS are registered trademarks of Offshore Systems Ltd., an OSI Geospatial company. IGEN and C3CORE are registered trademarks of CHI Systems Inc., an OSI Geospatial company. Other company brand, product and service names are for identification purposes only and may be either trademarks, service marks or registered trademarks of their respective owners. Data subject to change without notice.
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