WIND--Wind River Announces Strategic Investment in Pingtel to Speed Development of Smart, Voice-over-IP Phones
ALAMEDA, Calif.--(BUSINESS WIRE)--Sept. 12, 2000--Wind River Systems, Inc. (Nasdaq:WIND - news), a leading provider of software and services for smart devices in the Internet age, through its Wind River Ventures group, announced today that it has made a strategic investment in Pingtel, a Boston-based startup which has developed the world's only Java-based voice-over-IP telephone. As part of this strategic investment, Wind River and Pingtel will jointly develop technology to accelerate the deployment of standards-based IP telephony systems.
According to International Data Corp. (IDC) projections, the market for IP (Internet Protocol) telephony is projected to skyrocket from $480 million in 1999 to $19 billion by 2004.
``Developing a cutting-edge delivery platform like the Pingtel xpressa(TM) for next-generation voice services and applications is extremely challenging. Wind River's technology played a key role in shrinking our development cycle and allowing us to deliver a unique product to market first,'' said Jay Batson, CEO for Pingtel. ``Partnering with Wind River allows us to provide customers with innovative, revolutionary products for the Internet age.''
``By partnering with leading-edge companies like Pingtel, Wind River is able to better serve the growing voice-over-IP telephony market,'' said Curt Schacker, vice president of corporate development at Wind River. ``Wind River's Personal JWorks(TM) and VxWorks® technology are already critical components of the Pingtel xpressa phone. By working closely with Pingtel, Wind River is able to extend its software platform to better suit the needs of customers targeting next generation telephony systems. Strategic investments and partnerships are the key to providing our customers with newer and better options for their development needs.''
About Pingtel
Pingtel powers a renaissance in voice services and applications with the world's first intelligent, Java-based, voice-over-IP phone appliances, softphones and management software for service providers and enterprises. As the delivery platform for next-generation hosted PBX services (IP Centrex) and IP PBX systems, Pingtel xpressa phones not only make today's voice features much easier to use, but enable a whole new collection of services and applications that improve the way people work and businesses operate. Pingtel is located near Boston, in Woburn, MA, and can also be found at www.pingtel.com.
About Wind River Ventures
Wind River Ventures is the strategic investment arm of Wind River. The fund is intended to expand opportunities with startups, which already represent a significant portion of Wind River's business, and will provide a forum for collaboration on leading edge technologies that will help shape the future of embedded computing. Wind River Ventures will target investments in early-stage companies focusing on wireless communications, data and optical networking, semiconductors, and communications software as well as Internet appliance and other high-growth markets that are strategically aligned with Wind River. For more information, go to www.windriver.com/ventures/index.html.
About Wind River
Wind River, www.windriver.com, is a worldwide leader in embedded software. Wind River provides software development tools, real-time operating systems, and advanced connectivity for use in products throughout the Internet, telecommunications and data communications, digital imaging, digital consumer electronics, networking, medical, computer peripherals, automotive, industrial automation and control, and aerospace/defense markets. Wind River is how smart things think. Founded in 1983, Wind River is headquartered in Alameda, California, with operations in sixteen countries worldwide.
Note to Editors: Wind River Systems, the Wind River Systems logo, and VxWorks are registered trademarks and Personal JWorks is a trademark of Wind River Systems, Inc. Other names are registered trademarks or trademarks of the respective companies or organizations.
Contact:
Wind River
Tabitha Steager, 510/749-2470
tabitha.steager@windriver.com
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