5 Million Dollar Contract for I-Bus division:
Subj: Maxwell Technologies Announces I-Bus Program Award With...
Date: 10/27/98 7:24:24 PM Central Standard Time
From: AOL News
BCC: JerryCo
Maxwell Technologies Announces I-Bus Program Award With VideoServer Estimated At $5 Million
SAN DIEGO--(BUSINESS WIRE)--Oct. 27, 1998, Maxwell Technologies Inc. (NMS:MXWL) today announced that its I-Bus subsidiary has been awarded a program with VideoServer Inc. (Nasdaq:VSVR).
I-Bus estimates the value of the program over the next three years to be worth an estimated $5 million.
I-Bus will supply fully integrated PC platforms, including CPU boards, passive backplanes and system enclosures, for VideoServer's new Encounter(TM) multi-point conferencing products, the industry's first family of network servers that deliver mainstream multi-media conferencing over the Internet.
"VideoServer has long been a customer of I-Bus'," said John Werderman, president of I-Bus. "We are looking forward to working with them to build a state-of-the-art conferencing solution. This is a win-win strategic partnership for both companies. It gives VideoServer the opportunity to service their market with a highly reliable solution, and it gains entry for I-Bus into new markets, such as IP (Internet Protocol)."
"I-Bus continues to serve VideoServer as a partner," said Ed Wade, vice-president of operations for VideoServer. "With I-Bus, we have a single point of accountability, which is important as it allows us to focus our efforts on creating a product, like Encounter(TM), that redefines the market. Their platform solution combined with our expert knowledge in multimedia conferencing gives our customer the level of support they require."
Maxwell's I-Bus is an ISO-9001 quality-certified world leader in the design, manufacture and support of high performance CPU boards, backplanes, and enclosures based on passive backplane and CompactPCI technology for industrial-grade computer systems. In addition, I-Bus offers customized, partnership-oriented services focused on meeting the needs of OEMs including purchasing partnerships, stable supply, configuration control, complete system integration and test services.
I-Bus Inc. is a Maxwell Technologies company. Maxwell Technologies is a leader in pulsed power technologies, providing pulsed power based systems and components for a wide range of applications and research and development for both commercial customers and the U.S. government.
The company's advanced technology solutions address diverse markets such as utilities, telecommunications, medical equipment and products, food processing and packaging and transportation. The Company also offers industrial computers and subsystems, primarily to OEMs in computer telephony and other markets, and software products and services, both for government research and for various commercial applications.
Except for historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties, including product development based on new technologies, applications and acceptance of new products in major markets, demand for the OEM's product reaching anticipated levels, the impact of competitive products and pricing, the successful integration of acquired businesses, risks and uncertainties involved in foreign operations, and other risks detailed from time-to-time in the company's Securities and Exchange Commission reports, including the report on Form 10-K for the year ended July 31, 1997.
Actual results may differ materially from those projected. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.
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