CPQ has become too expensive for me. Has anyone else thought about leveraging a bet on CPQ by hitching a ride on CYNE?
Thursday August 17, 8:00 am Eastern Time
Press Release
SOURCE: CYNET, Inc.
CYNET, Inc. Forms Strategic Alliance With
Compaq
Compaq Allies With CYNET in Deployment of Wireless and Convergent Messaging
Solutions
HOUSTON, Aug. 17 /PRNewswire/ -- CYNET, Inc. (OTC Bulletin Board: CYNE - news and CYNEB - news)
announced today that Compaq Computer Corp. (NYSE: CPQ - news) has signed a multi-year strategic alliance
with CYNET to designate Compaq as its exclusive vendor to provide computer hardware and software to power
CYNET's Application Services Provider infrastructure and to work with CYNET to explore opportunities for
Compaq to deploy CYNET wireless, Internet applications, and convergent messaging solutions in certain
Compaq business groups. In addition, Compaq recently made a $2 million equity investment in CYNET, Inc.
CYNET will work with Compaq to bring to market its wireless modem technology that will be compatible with the
popular Compaq iPAQ Pocket PC and other handheld and portable devices. CYNET is exploring technology that
could potentially allow these devices to have high-speed wireless Internet connections.
``CYNET's visionary leadership, and focus on wireless and convergent communications, tightly aligns with
Compaq's emerging market focus,'' said Bud Enright, Compaq's vice president of corporate development. ``We
look forward to working with CYNET as it brings great solutions to the market.''
``This agreement allows CYNET a unique opportunity to align itself with one of the world's premier technology
companies. Through the benefits of this relationship, CYNET will be able to provide its customers with excellent
wireless, Internet and convergent messaging products,'' said Vincent W. Beale, Sr., chairman and CEO of CYNET.
``We believe this alliance has multi-million dollar implication for CYNET.''
Convergent messaging integrates e-mail, fax, data and voice messaging to simplify business communications
through a single desktop interface. Through the use of a common phonebook within CYNET's Convergent
Messaging software, global workforces will have access to fax-to-e-mail; e-mail-to-fax; fax broadcasting; e-mail
broadcasting; conference calling and wireless connectivity.
CYNET recently announced an agreement with Enron Corporation to deliver corporate wide convergent
messaging to domestic and international Enron employees. Compaq hardware has recently been deployed to
power this service delivery.
About CYNET
CYNET, Inc. is an Application Service Provider specializing in convergent technology. CYNET Convergent
Messaging simplifies business communications by using a single desktop interface to control multiple functions
including e-mail, fax, data and voice messaging. The company creates customized solutions by integrating
convergent messaging with Internet applications and wireless tools to maximize the efficiency of business
communications. To learn more about CYNET, contact the corporate offices at 800.964.2963 or visit:
www.cynetinc.com.
The Company is publicly traded and its Class A and Class B common stock are traded on the OTC Bulletin Board
under the symbols ``CYNE'' and ``CYNEB''.
About Enron Investment Partners
Enron Investment Partners, a wholly-owned subsidiary of Enron, is a private equity firm investing in early- and
mid-stage businesses that are owned or controlled by women or minorities or are located in or serve economically
disadvantaged urban areas. Enron Investment Partners provides much needed capital to segments of the
business community that have been previously overlooked by equity investors. Working together with local
community and business development groups, Enron Investment Partners is able to use its wealth of experience
to help its portfolio companies achieve the next level of success. The offices of Enron Investment Partners are in
Houston.
Notes: Compaq and the Compaq logo Registered U.S. Patent and Trademark Office. Product names mentioned
herein may be trademarks and/or registered trademarks of their respective companies. This financial discussion
contains forward-looking statements based on current expectations that involve a number of risks and
uncertainties. The potential risks and uncertainties that could cause actual results to differ materially include:
delays in the implementation of changes in delivery models, component shortages, increased competitive
environment and pricing pressures, delays in product rollout schedules, slow acceptance for new form factors,
changes in product, customer and geographic sales mix, employee retention, the financial condition of resellers,
delays in new systems implementation, operational inefficiencies related to sales cycles, equity investment
volatility, emerging market political or economic instability and disruptions related to restructuring actions.
Further information on the factors that could affect Compaq's financial results is included in Compaq's Securities
and Exchange Commission (SEC) filings, including the latest Annual Report on Form 10-K and the latest quarterly
report on Form 10-Q.
SOURCE: CYNET, Inc. |
