NEC Expands Distribution Agreement With Floware Into OEM Agreement
Tuesday October 17, 3:01 am Eastern Time
Press Release
NEC To Brand Floware's Solutions As NEC Products
OR YEHUDA, Israel--(BUSINESS WIRE)--Oct. 17, 2000--Floware Wireless Systems Ltd. (NASDAQ: FLRE - news), a leading provider of broadband wireless access (BWA) communication systems, today announced that its distribution agreement with NEC Corporation (NEC) has been expanded into an Original Equipment Manufacturer (OEM) agreement.
Under this new arrangement, Floware's products will be integrated into NEC's own product line, branding the Floware products as NEC products.
Tadashi Komatsu, General Manager of Mobile and Wireless Systems Division at NEC said, ``NEC has such a high level of confidence in Floware's solutions that it has decided to market Floware's products as its own.''
Amnon Yacoby, CEO of Floware added, ``Utilizing NEC's global reputation and distribution will enable us to expand into additional markets and win more customers, especially in Latin America and Asia, where NEC has a strong presence.''
Floware Wireless Systems Ltd. is a provider of broadband point-to-multipoint fixed wireless local access communication systems. These systems are used by telecommunications service providers, mainly competitive local exchange carriers or new operators that serve primarily small and medium-sized businesses. Floware's WALKair system enables these carriers to provide high-speed Internet access, other data services and voice services on the 3.5, 10.5 and 26 GHz radio frequency bands. Floware, headquartered in Israel, had its initial public offering of shares on August 2, 2000 and trades on the NASDAQ National Market under the ticker ``FLRE.''
This press release and statements by Floware in shareholder reports and public filings, as well as in oral public statements by Floware's representatives may contain forward looking statements. Such statements are subjected to certain facts, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to in such statements. The risks are identified in Floware's registration statement on Form F-1 (Registration Statement No. 333-12290) filed with the Securities and Exchange Commission.
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Contact:
Floware Wireless Systems, Or Yehuda
Tali Idan, +972 3 538 2320
tidan@floware.com
or
Citigate Dewe Rogerson, New York
Jennifer Hurson, 212/419-8303
jennifer.hurson@citigatedr-ny.com
Kevin Mannix, 212/419-4261
kevin.mannix@citigatedr-ny.com |
