OGPS - Omicron Acquires Interactive Radio Technology
BELLINGHAM, Wash., Sep 9, 1999 (BUSINESS WIRE) -- Omicron
Technologies, Inc. (OTC BB: OGPS) is pleased to announce that it has
acquired a revolutionary satellite-based radio technology through its
wholly owned subsidiary, Interactive Radio Corporation.
Omicron will issue a total of 5,000,000 restricted common shares to
ViaSpace Radio Inc. and Radio Satellite Corporation in exchange for a
100% ownership interest. This digital technology, covered by three
detailed patents, will combine navigation, broadcast and two-way
communication services to provide mobile users with innovative
e-commerce, e-mail, digital quality music, travel, security, global
positioning and gaming all at a relatively low cost. The initial
marketing focus will be on the automotive, trucking and recreational
vehicle markets.
Interactive Radio Corporation's management team will be headed by Dr.
Carl Kukkonen as Chairman. Most recently, Dr. Kukkonen was Director of
the Center for Space Microelectronics Technology and Manager of
Supercomputing at NASA's Jet Propulsion Laboratory, a division of the
California Institute of Technology (Caltech). Previously, Dr. Kukkonen
was a research physicist with Ford Motor Company (NYSE: F). Kukkonen
stated, "Our new radio technology has the potential to fundamentally
alter the relationship of people to their cars. This is truly an
opportunity to change the world." Head of the technical team will be
Gary Noreen who was the lead developer of this technology over the past
10 years. Mr. Noreen has been coordinating the development of the
communications network for NASA's Mars mission as a Senior Engineer at
the Jet Propulsion Laboratory.
The patented technology allows the use of existing underutilized
satellite capacity to provide these services anywhere in North America.
A standard satellite to be launched this year could extend coverage
throughout south Asia, and another standard satellite, to be launched
next year, will provide coverage throughout Europe, North and Central
Africa, the Middle East, Central Asia and the Indian Sub-continent.
Interactive Radio Corporation will be pursuing agreements with various
satellite owners to ultimately provide worldwide coverage for its
product.
Interactive Radio Corporation's two-way patented architecture offers
many unique services in addition to the standard one-way digital audio
services of CD Radio (Nasdaq: CDRD) and XM Satellite Radio, a wholly
owned subsidiary of American Mobile Satellite Corporation
(Nasdaq: SKYC). For more information and to test-drive Interactive Radio
Corporation's virtual prototype visit www.radiosat.com
An Unterberg Harris analyst report for U.S. Digital Audio Services
estimates that the U.S. digital radio market alone will reach $2.13
billion by 2004. Further, the Yankee Group estimates that the satellite
radio could reach 43 million U.S. subscribers by the year 2004.
Interactive Radio Corporation anticipates that that the majority of its
revenues will be derived from services other than just digital radio,
such as e-commerce.
Omicron Technologies, Inc. is in the business of acquisition, research
and development, and marketing of leading edge technologies for the
Aerospace, Telecommunications, Defense, Consumer Electronics and
Internet-based business concepts. Through the combined strategy of
focusing on marketing niches and speedy development of its proprietary
technologies, Omicron expects to gain significant market penetration in
these areas.
For further information, contact us toll free at:
Telephone : 877/903-2288
Web sites : www.omicrontechnologies.com
www.4value.com
www.market-infocom.com
www.thesubway.com
OMICRON TECHNOLOGIES, INC. Barrett Sleeman, President
NOTE: Safe Harbor for Forward-Looking Statements
Except for historical information contained herein, the statements in
this news release are forward-looking statements that are made pursuant
to the safe harbor provisions of the Private Securities Litigation Act
of 1995. Forward-looking statements involve known and unknown risks and
uncertainties that may cause the company's actual results in the future
periods to differ materially from forecasted results. These risks and
uncertainties include, among other things, volatility of prices,
product demand, market compensation, risk inherent in the company's
international operations, imprecision of reserve estimates and the
company's ability to replace and expand reserves.
Copyright (C) 1999 Business Wire. All rights reserved.
CONTACT: Omicron Technologies, Inc.
Barrett Sleeman, 877/903-2288
www.omicrontechnologies.com
www.4value.com
www.market-infocom.com
www.thesubway.com
WEB PAGE: businesswire.com
GEOGRAPHY: WASHINGTON
INDUSTRY CODE: COMPUTERS/ELECTRONICS
COMED
MERGERS/ACQ
TELECOMMUNICATIONS
INTERACTIVE/MULTIMEDIA/INTERNET
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