Thursday November 2, 8:40 am Eastern Time - Press Release
InterDigital to Open Design Facility in Montreal
Important Step in InterDigital's Growth Strategy
KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--Nov. 2, 2000--InterDigital Communications Corporation (Nasdaq:IDCC - news), a leading developer of advanced wireless technologies, today announced that it will open an engineering design facility in Montreal, Canada.
Coupled with InterDigital's aggressive hiring initiative to recruit new engineers, this new facility represents part of the Company's overall strategy to expand its global reach and operations to be a leader in next generation technology development.
InterDigital's facility in Montreal will focus on technology development, primarily in the following areas: Application Specific Integrated Circuit (ASIC) Design; Baseband Signal Processing; Systems Engineering; and Software Engineering.
InterDigital is focused on filling positions in technology development programs to coincide with the execution of its third generation (3G) wireless strategy and to prepare for the emergence of the 3G market. With high growth expectations for its engineering teams over the next two years, InterDigital has set an initial hiring target of 30 engineers in the Montreal office.
The Company expects to double the size of its overall engineering team by the end of 2001.
``Our Montreal facility represents a strategic move for InterDigital and reinforces our commitment to the future of wireless communications around the world,'' said Mark Gercenstein, Chief Executive Officer of InterDigital. ``Montreal is a growing technology center with a wealth of wireless engineering talent. By opening a design office there, we can accelerate our hiring program and strengthen our position as a 3G technology provider. Because other leading companies within the wireless industry have offices in the Montreal area, we feel this facility offers great opportunities to build relationships, attract top engineering talent and demonstrate that InterDigital will be a leader in the 3G revolution.''
``Montreal International is proud to have played a strategic role in attracting InterDigital to Montreal,'' said Mr. Jacques Girard, President and CEO of Montreal International, an organization dedicated to attracting foreign investment to the Greater Montreal region. ``The establishment of InterDigital's R&D center can only add to Greater Montreal's world-renowned expertise in both telecommunications and information technology industries,'' concluded Mr. Girard.
``We are extremely pleased that InterDigital chose to open an R&D facility in Montreal,'' says Louis L. Roquet, President and CEO of Investissement Quebec. ``Our mandate is to see that innovative companies on the leading-edge of their growing sectors find a niche in Quebec. After all, with the availability of a highly specialized, talented and wage-competitive workforce in Montreal, among other advantages, we have a very convincing business case for companies to move here. There is no doubt that we are welcoming a new major player that will fuel our already-intensive knowledge-based economy.''
InterDigital currently has offices in King of Prussia, PA and Melville, N.Y. and a business development subsidiary in Japan.
InterDigital develops advanced wireless technologies and products that drive voice and data communications. InterDigital offers solutions for mainstream wireless applications, which deliver cost and time-to-market advantages for its customers.
By leveraging its technology and intellectual property into third generation standards and products, InterDigital is maximizing its long-term revenue and earnings opportunities. InterDigital has a strong portfolio of patented TDMA and CDMA inventions, which it licenses worldwide. For more information, please visit InterDigital's web site: www.interdigital.com.
This press release contains forward-looking statements regarding InterDigital's current beliefs and expectations as to its growth strategy, hiring targets, and opportunities provided by Montreal. Such statements are subject to risk and uncertainties.
Actual outcomes could differ materially from those expressed in any such forward looking statement due to a variety of factors including but not limited to: competition for engineering talent and inability to retain or attract personnel, inability to enter sufficient or adequate industry relationships, continuation of our development project with Nokia, timing of the emergence of the 3G market.
InterDigital undertakes no duty to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
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Contact:
InterDigital
Media:
Susan Sutton, 610/878-7800
e-mail: susan.sutton@interdigital.com
or
Investor:
Janet Point, 610/878-7800
e-mail: janet.point@interdigital.com
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