On Track Innovations has announced that it was named the 2005 Company of the Year by Frost & Sullivan, a global company offering business consulting, market analysis and growth partnership services. OTI received the award based on its technology leadership, significant revenue expansion and its prominent position in the smart card contactless solutions market, including OTI's excellent strategic moves and ability to expand its market reach with providing its customers with optimum solutions. Frost & Sullivan continued to say that OTI's exceptional sales and marketing strategies for its microprocessor-based smart cards have given it the scale and growth required to succeed in the global contactless card solutions market.
Oded Bashan, president and CEO, OTI, stated, "We are honored to receive this award from such a prestigious firm as Frost & Sullivan. This award is further validation of our technology and our position as a market leader in contactless microprocessor-based card solutions. We expect to further accelerate OTI's growth across our core markets: payments, SmartID and petroleum payment solutions as more and more companies are turning to contactless solutions every day given the benefits, including faster and more secure transactions, better customer experiences and increased loyalty among end customers. As a leader in the contactless market, OTI is positioned to benefit from this expected growth as we have the right technology solutions and the proven track record of successful implementations for our customers worldwide."
Anoop Ubhey, Frost & Sullivan Smart Card Analyst, said: "The management team has constantly looked to enhance the company's technological position as well as expand its global presence, and this is now evident with some of its key developments across the globe."
