TechnoConcepts' Asante Subsidiary Enters Strategic Business Partnership with Worldwide Leader in Telecommunications Network Products
VAN NUYS, Calif., May 01, 2007 (BUSINESS WIRE) -- TechnoConcepts, Inc. (OTCBB:TCPS) today announced that Asante Networks Inc., a leading provider of networking solutions for the small-medium business ("SMB") market has entered into an Memorandum of Understanding ("MOU") with ZTE, a worldwide leader providing next generation telecommunications networks, products and solutions, including wireless products, core network products and network products. TechnoConcepts, Inc. is the largest shareholder in Asante Networks, Inc., with an 85% controlling interest.
Under the terms of the MOU, Asante will market and sell products into the SMB market, initially focusing on the North American market followed by expansion into Europe and other territories. The two partners will cooperate in defining next generation products for the Small Medium Business (SMB) market. Asante will integrate its' networking software solutions onto the new hardware platforms. Antonio Turgeon, Chairman and CEO of TechnoConcepts, Inc., commented "We believe this strategic partnership will prove to be mutually beneficial to both companies and we are pleased to secure a worldwide leader as a strategic partner for Asante." Turgeon further stated, "ZTE has extensive experience in delivering systems solutions for network convergence in the enterprise network domain."
About ZTE
ZTE Corporation, headquartered in China, is a worldwide leader providing next generation telecommunications networks, products and solutions, including wireless products, core network products and network products. ZTE has annual revenue in excess of US $4 billion. ZTE develops and delivers complete end-to-end solutions supporting multi-network convergence with an open structure which enables the convergence of both fixed and mobile networks, ensuring operators and service providers can continue to offer differentiated services.
About TechnoConcepts
TechnoConcepts designs, develops and markets semiconductors for wireless communications. The company has developed and patented True Software Radio(R), a proprietary technology that creates convergence for the wireless industry. True Software Radio(R) chipsets are designed to enable cell phones, PDAs, laptops, and other mobile devices with different radio frequencies, standards, and protocols to adjust by software command so that they can communicate directly with each other, across otherwise incompatible networks, without the need for multiple radios. True Software Radio(R) chipsets replace the front end, I/F processing, ADC, and digital filtering sections of digital radios. Because the technology simplifies design and reduces component costs, the Company believes that True Software Radio(R) is an ideal platform for Original Equipment Manufacturers (OEMs) and Original Design Manufacturers (ODMs) to develop new wireless broadband, mobile data, cellular, and other next-generation wireless applications.
More information is available at www.technoconcepts.com
More information is available at: www.zte.com.cn
About Asante Networks Inc.
Asante, based in San Jose, CA, is a leading provider of networking solutions for the small-medium business (SMB) market. Asante designs, markets, and sells a full line of networking solutions that provides high-performance, reliable, and value-based solutions. The company's IntraCore(R) and FriendlyNET(R) product families offer a full breadth of products - from the edge to the core of networks that integrate voice, data, and video over wireless and wired networks with unified management and authentication. Asante Networks is a subsidiary of TechnoConcepts Inc. (OTCBB:TCPS), a fabless semiconductor company specializing in wireless communications and networks.
More information is available at: www.asante.com .
Safe Harbor Statement under the Private Litigation Reform Act of 1995
Forward-looking statements in this release do not constitute guarantees of future performance. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Such statements may relate, among other things to expected financial and operating results, the expected acceptance of the company's products, the usefulness and benefits of the company's products generally and the acceptance of the company's technological solutions and its ability to achieve its goals, plans and objectives. The risks and uncertainties that may affect forward-looking statements include among others: difficulties providing solutions that meet the needs of customers, difficulty in developing new products, difficulty in relationships with vendors and partners, difficulty in introducing products in the marketplace and gaining acceptance of the same, difficulty gaining necessary governmental approvals, difficulty facing the intense competition present in the wireless communications industry, uncertainty of currency exchange rate fluctuations, the Company's limited operating history, its inexperience in operating internationally and difficulty managing rapid growth. For a more detail discussion of the risks and uncertainties of TechnoConcepts' business, please refer to the company's Annual Report on Form 10K for the fiscal year ended September 30, 2006, filed with the Securities and Exchange Commission, and as subsequently amended. The company assumes no obligation to update any forward-looking statement contained in this press release or with respect to the announcements described herein.
SOURCE: TechnoConcepts, Inc.
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