Company Press Release
SOURCE: Sensar Corporation
Sensar Announces Agreement Between Net2Wireless and Partner
SALT LAKE CITY, March 16 /PRNewswire/ -- Sensar Corporation (Nasdaq: SCII - news) announced today that a new agreement for the testing of the Value Added Services platform for Net2Wireless has been executed with Partner Communications Company Ltd., an Orange affiliate. (Also, see March 14, 2000 announcement by Partner.)
The Value Added Services platform is designed for multi media delivery, real time streaming video content, recording video images for later playback, and viewing pre-recorded media clips. The product being presently tested offers dynamic bandwidth solutions, enabling both circuit and packet switching technologies used in the cellular infrastructure.
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.' This new agreement replaces the previous agreement between Partner and ITES dated October 6, 1999. Net2Wireless acquired the assets of ITES relating to the wireless business effective December 15, 1999.
The agreement continues to provide a grant to Partner of an option to purchase up to an aggregate of 2,777,778 shares of Net2Wireless (or, subsequent to the merger, Sensar) for approximately US $5.5 million.
Net2Wireless and Partner are jointly conducting certain tests of the platform for the next thirty (30) days and, if satisfactory, will implement a full beta application of the platform with selected Partner customers.
Net2Wireless has developed a technology designed 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 PDA's, smart mobile phones and hand held computers, all over one backbone. 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. The system is scalable, modular and fully redundant.
This technology is designed to allow the cellular operator to provide content transmission and wireless multimedia, without bandwidth and infrastructure limitations, to its existing customers.
Partner Communications Company Ltd. is the only Global System for Mobile Communications, or GSM, mobile telephone network operator in Israel. Partner is part of the worldwide Orange Group.
Additional information concerning Net2Wireless can be found at its website at www.net2w.com |
