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Written by Ryan Gray
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Monday, 23 October 2006 |
I hope everyone went out Tuesday and purchased Greg Norman's The Way of Th Shark, not only because it is a great story of a great golfer and entrepenuer but because there is a very important blurb about the use of GPS and GPS Industries in emerging markets.
It is no secret that Greg Norman has had a long standing relationship and interest in the boom town of Dubai and the United Arab Emerites as a whole. He has been a major part of the development and promoting the game of golf as that part of the world grows at an amazing rate. In chapter 30, Norman talks about all of the major players involved in the growth of Dubai and how he sees golf and technology. It was a perfect opportunity for him to bring GPS Industries into the mix.
Norman says,"We also wanted to present investment opportunities to our new partners. One such opportunity revolved around GPS Industries, a Vancouver, Canada, technology company that I have had an involvement with since 2004. GPSI is one of three major providers of GPS distance measuring to the golf industry. These systems are typically cart-mounted, showing distances to the pin and providing advertising, scoring, and course management opportunities. What attracted me to GPSI wasn't just their product and the patent portfolio they controlled, but their recognition that by providing a golf course community with differential GPS they could effectively create the backbone for Wi-Fi enabling an entire community. That, in turn, would generate reoccurring income as a service provider offering Wi-Fi, voice-over IP, and wireless broadband. Understanding that Nakheel would probably benefit from having a wireless solution for its island communities and marinas, we cultivated the idea of having Nakheel's parent group, Istithmar (which is Arabic for "investment"); make a direct investment in GPSI. At the same time, the company could implement systems that would both enhance the value of GPSI and differentiate Nakheel from their competition by providing their residents with e-communities."
Norman, Greg: The Way of The Shark pg. 272
Very neat stuff! We will see what the future holds for GPSI, The Shark and Dubai...
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