Everyone is waiting for news of TSE listing and IWM's wireless division. Meanwhile
newswire.ca
Infowave and Tectona sign $2 million reseller agreement -- Initiative targets fast-growing Apple(R) market in Asia
BURNABY, BC, Sept. 9 /CNW/ - Infowave Software, Inc. (VSE:IWM) today
announced that it has signed a reseller agreement with Tectona Electronics,
Inc., a contract manufacturer and distributor with offices in Toronto and
Taipei. Under the terms of the agreement Tectona will manage the distribution
of Infowave's award-winning PowerPrint(R) software in Asia. Tectona has
committed to a purchase schedule that is expected to generate a minimum of $2
million in sales revenue over the one-year term of the agreement.
The agreement represents a shift in business strategy for Infowave to
take advantage of Apple's fast growth in Asia. According to Apple's Form 10-Q,
total Macintosh(R) unit sales during the second quarter ending March 27, 1999
increased 52% in Japan and 41% in the rest of Asia on a year-over-year basis.
Prior to this initiative with Tectona, Infowave had a network of agreements
with local Asian distributors that collectively accounted for less than two
per cent of Infowave's $14.4 million in Imaging sales in 1998. Tectona is
expected to become one of Infowave's largest resellers.
''Infowave's printer driver technology has proven itself in the market
place and has consistently won accolades from the Macintosh media,'' said
Carolyn Cross, president of Tectona. ''We are very excited at the opportunity
to deliver Infowave's popular printing solutions to the increasing number of
Apple users in Asia.''
Tectona has exclusive rights to sell and distribute PowerPrint in Japan,
India, Indonesia, Pakistan and South Korea, qualified exclusive rights in the
People's Republic of China, Philippines and Republic of China and
non-exclusive rights in Singapore. As part of the agreement, Infowave will
develop a Japanese language version of its PowerPrint software.
''This agreement opens important sales and distribution channels in Asia
and leverages our existing product line,'' said Kevin Jampole, vice president
sales and marketing of Infowave's Imaging Division. ''The initiative also
represents an excellent opportunity to develop a strong brand following in
Asia.''
About Infowave
Infowave was founded in 1984 and is headquartered in Vancouver, Canada.
Infowave's Imaging Division builds award-winning printing solutions -
PowerPrint(R) and StyleScript(R) software kits provide Apple(R) Macintosh(R)
users with improved print quality and access to more than 1,600 printers.
Infowave's Wireless Division builds mobile business solutions that use the
power of wireless communications to extend the reach of enterprise computing.
Infowave for Exchange and Infowave for the Net are advanced and secure
wireless solutions for connecting mobile workers to key corporate information
and applications.
(c) 1999 Infowave Software, Inc. - Infowave, the Infowave logo,
PowerPrint and StyleScript are trademarks of Infowave Software, Inc. All other
trademarks are the property of their respective owners. Some of the above
trademarks may be registered in certain jurisdictions. This news release
contains certain forward-looking statements about Infowave's reseller
agreement with Tectona that involve risks and uncertainties such as the
ability to develop and supply products without error or defect and the ability
to achieve market acceptance in Asia, the likelihood that competitors in Asia
may produce products that are superior or gain greater market acceptance due
to pricing, sales channels or other factors and the Company's heavy reliance
on the sales of Apple Macintosh computers. Actual results could differ
materially from the Company's expectations. Forward-looking statements are
based on the expectations and opinions of Infowave's management on the date
the statements are made, and Infowave assumes no obligation to update
forward-looking statements should circumstances in management's expectations
or opinions change. Actual results could differ materially from the Company's
expectations. The Vancouver Stock Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of this release.
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For further information: Corporate -- Infowave Software, Inc., Todd
Carter, CFO, ir@infowave.com 800-463-6928; Media -- Infowave Software,
Inc., Anne Whitmore, Media Relations, pr@infowave.com, (604) 473-3647;
Investor Relations -- The Investor Relations Group, Steve Hanson, President,
irg@invrel.com, 800-444-9214; The Investor Relations Group (604) 689-5255 |
