Bogdummy
U r complaining about name calling, u should read your posts that all say SCAM and the names you call the coach,
tsk, tsk
suck on this while u satify your margin call
Partner Communications Announced Today an Agreement with Net2Wireless Corporation
ROSH HA'AYIN, Israel--(BUSINESS WIRE)--March 14, 2000--Partner Communications Company Ltd. (NASDAQ: PTNR) announced today an agreement with Net2Wireless Corporation, for evaluation and development of a video and other Value Added Services platform, and for the grant of an equity option in Net2Wireless to Partner Communications.
The video platform which is currently in early testing stages at Partner's facility is designed for multi media delivery, real time streaming video content, recording video images for later playback, and viewing of pre-recorded media clips. The product being presently tested offers dynamic bandwidth solutions, enabling both circuit and packet switching. Net2Wireless has developed a technology to enable digital cellular operators to provide applications that would typically be provided through a 3G network, using 2G existing infrastructure and mobile devices such as PDAs, mobile phones and hand held computers. Net2Wireless technology utilizes state of the art digital content compression, advanced pattern recognition technology and innovative streaming communication technology, supporting scalable communications from 9600 bps and higher, using ultra-low bandwidth connections over existing cellular networks.
Sensar Corporation (NASDAQ: SCII) has entered into a loan and option agreement with Net2Wireless, which grants to Sensar the right to call for a merger of Sensar and Net2Wireless.
The agreement signed today grants Partner an option to purchase up to an aggregate of 2,777,778 shares of the Common Stock of Net2Wireless, amounting to approximately 7.7% of the Common Stock of the merged entity (assuming consummation of the merger), after taking into account existing Net2Wireless options but subject to future dilution, at an exercise price of approximately US$5.5 million. The option is exercisable until the later of October 6, 2000, and two months after the consummation of a merger of Sensar and Net2Wireless in accordance with the agreement between them.
This announcement is in line with the strategy announced by Partner Communications of cultivating and cooperating with a range of innovative start-up companies in the development and application of cutting edge technologies in the wireless data and multi-media worlds.
The agreement is an indication of the potential of the cooperation between Partner and start-up companies for value creation to Partner and its shareholders, as well as to the companies which benefit from the knowledge accumulated at Partner, and from using Partner as a gateway to the cellular and GSM world. The agreement gives Partner an advantage in the implementation and use of the technology, including exclusivity for use of the video platform in Israel during the two years following the consummation of a purchase agreement regarding the video platform, and has the potential to allow Partner subscribers to benefit from technologies which are not expected to be available on other cellular networks in Israel for a considerable period of time. If the evaluation and tests of the technology are successfully concluded, it will enable Partner to offer advanced services using existing cellular transmission technologies.
In commenting on the agreement with Net2Wireless, Amikam Cohen, Partner Communications CEO said that "this agreement will be followed by additional agreements with innovative start-up companies, allowing Partner to benefit from most advanced technologies, as well as from equity in the start-up companies themselves." Mr. Cohen added that "the formation of a new company, a wholly owned subsidiary of Partner Communications, announced today, which will develop advanced wirefree applications for implementation on GSM networks worldwide, will further enhance Partner's ability to cooperate with other companies to jointly develop applications and enabling technologies in the wirefree data and multi-media worlds."
Nehemia Davidson, CEO of Net2Wireless said: "We are very pleased with this agreement and it is a major step forward in achieving the recognition of our cutting edge technology in the wireless Value Added Services market for the cellular operators."
Partner Communications Company Ltd. is the only Global System for Mobile Communications, or GSM, mobile telephone network operator in Israel. The Company commenced full commercial operations in January 1999 under the international Orange Brand name and, through its network, provides quality of service and a range of features to over 400,000 subscribers in Israel. Partner subscribers can use roaming services in 68 countries using 153 GSM networks. The Company shares are quoted on NASDAQ under the symbol PTNR and on the London Stock Exchange under the symbol PCCD. (For further information: investors.partner.co.il
Net2Wireless is a US Corporation with an R&D center in Israel. (For further information: net2w.com
CONTACT:
Partner Communications Company Ltd.
Dr. Dan Eldar
V.P. Carrier, Investor and International Relations
Tel: +972-3-9054151
Fax: +972-3-9054161
E-mail: dan.eldar@orange.co.il
or
Net2Wireless Corporation
Yitzchak Feldman
Executive Vice President Marketing and Sales
Tel: +972-3-9028600
Fax: +972-3-9028601
E-mail: info@net2wireless.co.il |
