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Technology Stocks : Spectrum Signal Processing (SSPI) -- Ignore unavailable to you. Want to Upgrade?

To: Edwin S. Fujinaka who wrote (2523)	5/18/1999 6:27:00 PM
From: nord	Read Replies (1) \| Respond to of 4400

FOR: INDUSTRY CANADA MAY 18, 1999 Industry Canada -- Technology Partnerships Canada Investment Helps B.C. High Tech Firm Build Digital Communications for the 21st Century BURNABY, BRITISH COLUMBIA--On behalf of John Manley, Minister of Industry, David Anderson, Minister of Fisheries and Oceans, today announced a $6.3 million Technology Partnerships Canada (TPC) investment with Spectrum Signal Processing Inc. that will create 183 new jobs and open the door for Canadians to a wide range of new digital communications services. "Through TPC, we are making an investment in research and development that will have significant social and economic benefits for all Canadians," said Minister Manley. "This technology will help Canadians communicate more effectively - wherever they may be. Other Canadian firms will also benefit, applying this technology to meet new demands for expanded digital communications products and services." "This TPC investment will connect British Columbia with the opportunities of the wireless world," said Minister Anderson. "British Columbia's presence in the high-tech sector will be strengthened and quality, knowledge-based jobs - the kind of jobs we need for success in the 21st Century - will result." The repayable investment will help Spectrum Signal Processing develop high-speed digital signal processing (DSP) systems for advanced commercial wireless communications and military signals intelligence applications. DSP converts analogue (natural) information, like speech and pictures, into a digitized form that can be more easily transmitted. With DSP technologies - like those being developed by Spectrum - Canadians will be able to access a wider range of digital communications services. Anticipated applications also include transaction services, broadcasting, financial and business services, entertainment, video conferencing, tele-medicine and surveillance. Spectrum Signal Processing Inc., of Burnaby, British Columbia, was formed in 1987 with four employees. The firm now employs 180 people - 70 of whom are engaged in R&D. The company is a leader in DSP solutions and offers DSP software, off the shelf hardware, custom ASIC design and complete custom systems. Technology Partnerships Canada is a key element in the federal government's strategy to promote economic growth and job creation through innovation, positioning Canada to be a leader in the global knowledge economy of the 21st century. The program represents an investment approach to technological development with real risk and reward-sharing with the private sector. Investments are repayable and intended to help ensure that products with high potential reach the marketplace. This press release and other documents produced by Industry Canada are available on TPC's website at: tpc.ic.gc.ca -30-