InfoGear Purchases Development Assets for Next-Generation Web Phone From CIDCO Inc.
October 7, 1998 REDWOOD CITY and MORGAN HILL, Calif., Oct. 6 /PRNewswire/ via
NewsEdge Corporation -- InfoGear Technology Corporation and
CIDCO Incorporated (Nasdaq: CDCO) today announced that they
have entered into an agreement through which certain web-phone
development assets belonging to CIDCO have been sold to
InfoGear. These assets include the intellectual property, industrial
design, manufacturing tools and designs, and certain test tools
and fixtures related to the development of the next generation of
the iPhone(R). The iPhone, introduced earlier this year, is an
advanced telephone that provides consumers with easy,
touch-screen access to the Internet, as well as the ability to
send and receive email.
CIDCO and InfoGear have worked together in the development of
the iPhone, with CIDCO providing manufacturing and distribution
for the product and InfoGear supplying software and Internet
services. On September 21, 1998, CIDCO announced that it had
scaled down development of future Internet telephone products.
As a result, CIDCO has agreed to sell its next generation iPhone
development assets to InfoGear. Terms of the deal were not
disclosed.
CIDCO said it is continuing to sell, service and support its current
CIDCO iPhone, and that InfoGear will continue to provide online
software services to current and future users. Next-generation
iPhones will be produced by InfoGear, who recently raised over $8
million in financing to continue the development and marketing
efforts around the iPhone.
"We are continuing to execute InfoGear's plan to be the leading
developer of Internet phones and related network services," said
Ed Cluss, President and CEO of InfoGear. "With these key assets,
InfoGear has all the capabilities it needs to control our own
destiny. We will be able to focus on building products and services
that make using the Internet as easy, reliable, and affordable as
using the telephone."
About InfoGear Technology Corporation
Founded in December 1995, InfoGear Technology Corporation is a
privately held company focused on the rapidly growing market for
Internet appliances and their related services. InfoGear has
developed the iPhone(R), the award-winning Internet
screenphone, which is manufactured by CIDCO(R) Incorporated.
The iPhone(R) is currently distributed in the United States,
Australia, South Africa, and New Zealand. InfoGear also operates
the InfoGear Network(TM), providing network information solutions
for Internet appliances, in conjunction with content provider
partners, electronic commerce partners, and selected ISPs. Visit
InfoGear on the World Wide Web at infogear.com.
About CIDCO Incorporated
CIDCO Incorporated is a leading innovator in advanced telephony
products -- from Caller ID equipment to Internet-enabled
telephones -- which support intelligent networks services being
offered by telephone companies and internet service providers. It
is a leading supplier of Caller ID in the United States and has sold
over 20 million products, including Caller ID display units, network
feature telephones, advanced cordless telephones and smart
screen phones utilizing ADSI technology. CIDCO's products are
provided to telephone subscribers through a variety of channels
which include distribution arrangements with leading telephone
companies worldwide and numerous retail outlets. Visit CIDCO on
the World Wide Web at cidco.com, or call
408-779-1162.
In addition to the historical information contained herein,
statements in this press release may contain forward-looking
statements within the meaning of the Federal securities laws and
are subject to the safe harbors created thereby. The following are
among the factors that could cause actual results to differ
materially from the forward-looking statements: business
conditions and growth in the telecommunications industry and
general economies, both domestic and international; lower than
expected customer orders; competitive factors; changes in
product mix or distribution channels; and technological difficulties
and resource constraints encountered in developing and/or
introducing new products. Forward-looking statements contained
in this press release regarding expected financial results, industry
trends, sales, and future business strategies and activities should
be considered in light of these factors and those factors
discussed from time to time in the Company's public reports filed
with the Securities and Exchange Commission, such as those
discussed under "Factors That May Affect Future Results" in the
Company's report on Form 10-K for the year ended December 31,
1997.
NOTE: iPhone is a registered trademark of InfoGear Technology
Corporation. InfoGear and the InfoGear Network are trademarks of
InfoGear Technology Corporation. CIDCO is a registered trademark
of CIDCO Incorporated. All other trademarks and registered
trademarks are the properties of their respective owners.
SOURCE CIDCO Inc.
/CONTACT: Dennis Tsu, Vice President of Marketing of InfoGear Technology
Corporation, 650-568-2900, or pr@infogear.com; or Barbara Krause of Krause
Taylor Associates, 408-871-4251, or barbara@krause-taylor.com, for CIDCO
Incorporated/
/Web site: infogear.com
/Web site: cidco.com
(CDCO) |
