WebTech Wireless Gains Credibility — and Almost, A Contract

There’s certainly a saying about not counting your chickens that would apply in this case, but it seems that Vancouver-based WebTech Wireless Inc. is on the verge of — drumroll, please — actually getting a contract they’ve been working on for more than two years. And it could be a big one.

WebTech actually has a pretty good business for the current era of record gas prices. Their vehicle tracking services can help companies keep tabs on their employees and shipments to make them more efficient. This helps companies save money on fuel. Enter FedEx and IBM, which are rumored to be about to sign a deal for 7,800 of WebTech’s software and hardware locators, worth $5 million per year over five years (Canadian Press).

But WebTech has been burned before. A deal with Volkswagen last spring fell through when one of the companies involved couldn’t get financing (Globe and Mail). That was supposed to be the deal that put WebTech on a firm footing. Things are looking good so far this time, though. Check in after the weekend and we’ll see if WebTech’s new street cred is really worth $5 million a year.