Press Release

 

SAN JOSE, CA--(Marketwire - April 4, 2008) - Altierre Corp., a provider of wireless dynamic pricing solutions for retailers, today announced that it has leased an 85,000 square-foot building in San Jose to accommodate the company's ambitious expansion plans. The new facility will increase the company's space by more than 60,000 square feet. The company will re-locate its growing management and engineering team to its new headquarters beginning April 1.

 

"Moving to a larger facility will enable us to create full-scale engineering and test labs that will allow us to demonstrate our technology to potential partners and support the scale of our business," said Altierre Chairman and CEO Sunit Saxena. "As we move into production mode with our large retail partners it is critical that we have top-quality facilities to house our expanding team."

 

Altierre recently announced the completion of a $22 million Series C funding round led by The Galleon Group. The funding and move to larger quarters will enable the rapid expansion of Altierre's production and manufacturing in anticipation of multiple implementations with major retail chains. Altierre has been co-developing its wireless dynamic pricing solution with several of the top 10 grocery chains in the country under signed agreements. The Company has attracted $39 million in funding from premier venture investors in the past 12 months. Altierre nearly doubled its employee base in 2007 and plans to ramp strongly in 2008 based on customer demands for its solutions.

 

Altierre's proprietary, turnkey hardware and software platform features low-cost, long-range RFID technology and back-end data-management capabilities designed specifically for major retail chains. The Altierre solution provides rapid return on investment by efficiently delivering real-time, chain-wide dynamic pricing and shelf promotions, improving price accuracy, sharply reducing costs and paper waste, and enabling targeted communications with customers and employees.

 

Altierre estimates that more than $40 billion is spent annually implementing price changes in the food, drug and mass retail segments. With a fully functioning, end-to-end solution, the Company is now executing its breakout strategy to directly address this vast opportunity.

 

About Altierre

Altierre Corp., a leading provider of wireless dynamic pricing solutions for retailers, provides single-platform hardware, software and other IT solutions that enable chain-wide dynamic pricing, improved price accuracy, sharply reduced costs and paper waste, and improved communication with consumers from the onset of the shopping experience to the point-of-purchase. Altierre is a 2007 Red Herring 100 Award winner, a selection of the 100 private companies based in North America that play a leading role in innovation and technology. Founded in 2003, Altierre is headquartered in San Jose, Calif. For more information, please visit www.altierre.com.

 

Media Contact:
Jeff Fox
The Blueshirt Group (for Altierre)
415-828-8298
jeff@blueshirtgroup.com