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Attention Business Editors:
iTech Capital Corp. Invests in Applied Data Systems, Inc., a Provider of "Application-Ready" Embedded Systems Solutions for the Wireless and Mobile Markets
TSE Trading Symbol: ITE.T
TORONTO, March 15 /CNW/ - iTech Capital Corp. (iTech) adding to its
portfolio of technology companies, has made an equity investment of US$500,000
in Applied Data Systems, Inc. (ADS), based in Columbia, Maryland, a provider
of "application-ready" embedded computer system solutions incorporating
intelligent hardware and proprietary software engineering. The Argentum Group
is the lead investor in the Company with $2,500,000 invested in the
participating preferred stock.
ADS is a leading manufacturer of ARM (Nasdaq:ARMAY) based single board
computers designed exclusively for the embedded market such as process
control, medical instrumentation, fleet management, POS and industrial data
management. The Company's solutions are ideally suited for mobile and
Internet-enabled applications requiring wireless connectivity due to their
low-power consumption, robust functionality and extensive compatibility with
peripherals.
ADS is the "first to market" with a standardized embedded systems
solution using Intel Corporation's (INTC:NYSE) StrongARM products - a family
of processors which are becoming the preferred core components for the
enormous and rapidly growing markets for portable and wireless applications.
Recognized as the only company offering standard embedded solutions powered by
StrongARM processors, ADS has attracted significant interest from large
potential customers, strategic partners, and licensees. The Company currently
has an impressive customer base that includes a number of Fortune 500
companies.
ADS sells its solutions on an OEM or licensed basis to systems
manufacturers and integrators. By providing an "application-ready" final
product, ADS offers its customers reduced time to market, lower cost, and
superior design and engineering capabilities to accommodate design variations
or redesigns. The Company targets customers with product volume requirements
in the range of 5,000-20,000 units. Additionally, there is a growing
outsourcing movement away from in-house systems that should further support
the Company's growth.
ADS supports Windows CE 2.12, OS-9, VxWorks and Nucleus, and plans to
introduce a group of Linux based products in the near future. The Company
anticipates significant demand for this product offering which will represent
the first embedded system joining StrongARM processors and Linux O.S. in a
standardized, "plug and play" format.
Brian A. Hinchcliffe, iTech's Chairman stated, "We are genuinely excited
to be shareholders in ADS. The Company has clearly demonstrated its ability to
identify market trends and effectively address emerging opportunities, as
evidenced by its current solutions which are optimized for wireless
portability and connectivity."
To learn more about Applied Data Systems, Inc., visit www.flatpanels.com
ON BEHALF OF THE BOARD OF DIRECTORS
Brian A. Hinchcliffe
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Brian A. Hinchcliffe, Chairman & co-CEO
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For further information: please contact Jim Graham, Vice President
Investor Relations, 1-800-675-1749 or (516) 922-6404, E-mail:
jimgraham@itechcapital.com, Web site: itechcapital.com
ITECH CAPITAL CORP. has 2 releases in this database.
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