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To: Bill Harmond who wrote (97599)	3/27/2000 5:48:00 PM
From: Slumdog	Respond to of 164684

Hikari Tsushin Invests $29.5 Million in Pixo CUPERTINO, Calif., Mar 27, 2000 (BUSINESS WIRE) -- Japan's Largest Mobile Phone Distributor Teams With Leading Wireless Internet Developer to Offer New Mobile Commerce Solutions Throughout Japan and Asia Pixo, Inc., a leading developer of mobile commerce solutions today announced that Hikari Tsushin, Inc., Japan's largest mobile phone distributor, has invested $29.5 million in Pixo. Validating the strength of Pixo's technology, Hikari's investment is the largest made in a strategic partner to date. More importantly, this collaboration solidly positions both firms to develop and deliver new and compelling mobile commerce applications for wireless markets in Japan and the rest of Asia. As part of the investment agreement, Hikari and Pixo will undertake a joint venture in Japan to provide wireless Internet services and products to consumers. Development efforts will focus around Pixo's HTML-based microbrowser technology and the content and services that it will enable. Unlike a WML-based browser, the Hikari-Pixo browser will be able to access virtually any HTML-based content on the Web and instantly reformat the content for effective presentation on a wireless phone display. This will allow Hikari to leverage the entertainment, sport and lifestyle content of its existing CLUB HIT wireless content, as well as other mobile commerce sites and transactions. "Hikari invests in companies with exceptional technologies that will support us in our goal to develop advanced wireless Internet services such as mobile commerce," said Masahide Saito, managing director of Hikari Tsushin. "We believe that the mobile phone will become the device of choice for conducting mobile commerce transactions, and Pixo's proven know-how and established partnerships in this market segment will support Hikari in its efforts to bring wireless e-commerce applications to the mass-market." "Hikari's commitment to advancing wireless Internet applications parallels Pixo's technological and strategic roadmap," said Nathan Pendleton, vice president of the wireless devices business unit of Pixo. "With its unique approach to the industry and aggressive business strategy, Hikari is an ideal partner for Pixo to develop mobile commerce applications in Japan." Hikari's investment in Pixo makes it Pixo's largest single shareholder. Pixo's other shareholders include Conexant Systems, Inc., the largest pure-play semiconductor communications company in the world, Altos Ventures, Bay Partners and Communications Ventures. Hikari also holds investments in Phone.com, a leading provider of mobile Internet software and services and in Tumbleweed, a developer of Internet document delivery technologies. About Hikari Tsushin, Inc. Hikari Tsushin, headquartered in Tokyo with 4 affiliated companies overseas, is the leading information and telecommunication service distributor in Japan. Hikari Tsushin is Japan's largest distributor of cellular phones with nearly 2000 stores. Hikari also provides a wide range of Internet-related services. Using its vast network of sales channels, Hikari Tsushin launched a number of new businesses in 1998, including rental server business, CS digital broadcast television business, and web-TV business. Previous investments include Phone.com, Inc. and Tumbleweed Communications Corp. Last November, U.S. magazine Business Week, named Hikari Tsushin, Inc. as its number one "Hottest of the Hot" IT companies in its 1999 InfoTech 100 issue. For more information, visit at www.hikari.co.jp. About Pixo, Inc. Pixo is a leading provider of mobile commerce solutions for wireless phone manufacturers and carriers. Featuring a practical, easy-to-use microbrowser, the Pixo software platform enables users to access all of the Internet and conduct mobile commerce from their wireless phones. In addition, Pixo provides easy integration of wireless applications and Internet content and services, all within an intuitive and graphical environment. Designed to be compact and cost-effective, Pixo's software solutions can be quickly and easily integrated into manufacturers' high-volume phones. Pixo is a privately held company headquartered in Cupertino.