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In a release, the company noted the main focus of IPS has been software development and sales for handheld parking ticketing devices.
Since the acquisition in March of 2006, IPS's consolidated revenues were basically from IPS sales. IPS's wireless business has been focused on R&D activity with no revenues.
The company believes that the future of parking is wireless applications and plans to focus attention on its sensor technology. The company plans to concentrate its efforts on its relationship with Motorola and other industry participants.
Integrated Parking Solutions designs, develops and is in the process implementing the wireless data acquisition and communication products specifically designed for the expanding needs of parking and intelligent transportation industries.
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