interWAVE Signs Three-Year OEM Agreement for its CDMA2000 Products Tuesday March 11, 7:30 am ET
-- Initial $1 million order has scheduled deliveries in the quarters ended June and September 2003
MENLO PARK, Calif.--(BUSINESS WIRE)--March 11, 2003-- -- Contract expected to be worth at least $5 million over three years
interWAVE® Communications (Nasdaq:IWAV - News), a pioneer in compact wireless communications systems, today announced the initiation of a three-year OEM agreement with a customer that is a leading supplier of next generation, packet-based wireless network to global operators. Details of the customer are not being released at the customer's request. The initial order, for $1 million, includes products from interWAVE's CDMA2000 line and has scheduled deliveries to ship in the quarters ended June and September 2003. Subsequent orders are presently expected to be filled during the next three years for an agreed-upon aggregate contract value of at least $5 million.
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Bill Carlin, interWAVE's vice president of worldwide sales and customer service, commented, "This is the first major customer to invest in interWAVE's CDMA2000 product family since interWAVE acquired GBase Communications last September 2002. This order helps validate the viability of our CDMA technology, designed to provide our customers with voice and data services across large areas affordably with rapid deployment schedules. interWAVE has been working with this customer since 2000, supplying compact GSM radio infrastructure components. This OEM agreement is part of the on-going relationship with this customer, and will cover the CDMA2000 product line."
interWAVE's CDMA2000 product family consists of a standard compliant, cost-effective CDMA2000 Base Transceiver Station (BTS) combined with Base Station Controller (BSC) capabilities, called the WAVE2000 BS Plus, based on IP connectivity. This compact, flexible CDMA2000 radio network is designed to be ideal for providing voice and data services in large public or private areas, e.g. public communities, large campuses. As a complete CDMA2000 access network, the WAVE2000 BS Plus is expected to be flexible enough to interface with a distributed or centralized Media Gateway that connects to a legacy CDMA switch over E1/T1. Alternatively, the system is designed to directly interconnect with a soft-switch over IP. interWAVE's CDMA2000 product line also includes a Packet Data Service Node (PDSN) that runs on a standard PC. The compact and cost effective nature of our PDSN is expected to allow operators to locally distribute and install IP gateways in small communities, campuses and buildings, which aligns well with interWAVE's market focus for the GSM product line.
About interWAVE
interWAVE Communications International, Ltd. (Nasdaq:IWAV - News) is a global provider of compact network solutions and services that offer innovative, cost-effective and scalable networks allowing operators to "reach the unreached." interWAVE solutions provide economical, distributed networks that minimize capital expenditures while accelerating customers' revenue generation. These solutions feature a product suite for the rapid and simple deployment of end-to-end compact cellular systems and broadband wireless data networks. interWAVE's highly portable, mobile cellular networks and broadband wireless solutions provide vital and reliable wireless communications capabilities for customers in over 50 countries. The Company's U.S. subsidiary is headquartered at 312 Constitution Drive, Menlo Park, California, and can be contacted at www.iwv.com or at 650/838-2000.
Forward Looking Statements
This news release contains forward-looking statements that are subject to known and unknown risks and uncertainties that could cause the results of interWAVE Communications International, Ltd. to differ materially from management's current expectations. These risks and uncertainties include, but are not limited to, the risks relating to interWAVE's history of losses, the expectation of future losses, potential lack of liquidity and capital resources, reliance on a small number of customers, complexity of products, difficulties in introducing new or enhanced products, compliance with regulations and evolving industry standards, long sales cycles, intense competition, management of global operations, the ability to retain and motivate key employees, the potential of delisting from the Nasdaq National Market, and acquisition related risk factors including potential asset impairment, dilution of shares outstanding, cash outflow for acquisitions, increases in debt absorbed and potential post-acquisition employee retention, as well as the Risk Factors discussed in the filings and reports made from time to time by interWAVE with the Securities and Exchange Commission.
Editor's Note: interWAVE is a registered trademark of interWAVE Communications International, Ltd.
-------------------------------------------------------------------------------- Contact: interWAVE Cal R. Hoagland, 650/838-2033 choagland@iwv.com www.iwv.com
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