NEW ORLEANS--(BUSINESS WIRE)--April 29, 2004--Data Evolution
Holdings Inc. (OTC.PK:DTEV) announced today that it's wholly owned
subsidiary, Data Evolution Corporation, has received a substantial
strategic investment from The Pinax Group Inc.
The investment will amass valuable intellectual property,
equipment and assets to advance the Company's manufacturing
capabilities and enable the Company to capitalize on several
significant market opportunities.
"We are very pleased that The Pinax Group has placed its trust in
Data Evolution's ability to dominate our market niche," said Robert J.
Sowah, chief executive officer of the Company. "With this investment,
Data Evolution will now be the top player in the convertible handheld
PC market."
In addition, the Company has executed a License Agreement with The
Pinax Group whereby the Company will have the right to produce the
award-winning Clio(R) convertible handheld PC. The Company will also
have access to The Pinax Group's entire portfolio of intellectual
property, concept designs, engineering specifications, OEM/ODM
experience and contacts, and channel and strategic partners.
"Users in various industries have evaluated Tablet PCs and have
realized they do not need the full capabilities of a Windows(R) XP
tablet system," Sowah continued, "however, these users do want the
ability to effectively and efficiently capture data, as well as
perform other typical computer functions, such as write and read
e-mails, access the Internet, and perform word processing and
spreadsheet tasks all while mobile. The Clio and other planned Windows
CE-based products from Data Evolution offer the most important
benefits of a full Tablet PC, including the ability to input data via
touchscreen or integrated keyboard, without the high purchase price
and maintenance costs of a full Tablet PC."
For additional information about the Clio and updates about the
Company's new and innovative handheld PC devices, please see the
Company's Web site located at www.dataevolution.com.
This release includes forward-looking statements made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995 that involve risks and uncertainties including, but not
limited to, the impact of competitive products, the ability to meet
customer demand, the ability to manage growth, acquisitions of
technology, equipment or human resources, the effect of economic and
business conditions, and the ability to attract and retain skilled
personnel. The Company is not obligated to revise or update any
forward-looking statements in order to reflect events or circumstances
that may arise after the date of this release.
About Data Evolution Holdings Inc.
Data Evolution Holdings Inc., through its wholly owned subsidiary,
Data Evolution Corporation, develops proprietary computer software and
manufactures computer hardware for mobile data capture solutions. The
Company's software products and services, grouped under the trade name
mCapture:PowerSys(tm), are specifically designed to help organizations
capture and manipulate data efficiently and accurately. Our hardware
products consist of the award-winning, convertible handheld personal
computer, Clio(R), and other niche-oriented computer products.
Robert J. Sowah, Chief Executive Officer
650 Poydras Street
Suite 1467
New Orleans, Louisiana 70130
Tel.: 504-299-3467
E-mail: in...@dataevolution.com
Web site: www.dataevolution.com
