CHICAGO, Sept. 3, 2002 (PRIMEZONE) -- Telesis (TSX Venture Exchange:TNC) (OTCBB:TNCVF), a leading developer and marketer of data acceleration software, announced today the appointment of Tom Larson as Director of Sales for North America. In this role, Mr. Larson will help execute Telesis' goal of making OVERDRIVE(TM) the standard data acceleration software for ISPs, enterprises, and wireless network operators.
Mr. Larson has an extensive 25 year career in selling to the telecommunications industry including TCP/IP services, wireless, frame relay, voice, and legacy systems, and has recent experience with web and e-commerce projects. Prior to joining Telesis, Mr. Larson was with Bridgewater Systems Corporation, successfully selling large scale multiple access, security management, and IP provisioning network systems to major ISPs, CLECs, and national carriers such as Sprint, Verizon, Focal Communications, and Williams Communications. He also developed a number of key strategic partnerships with companies such as IBM, Tyco Electronics, Molex, and HP. As the Regional Sales Director for iTracs Corporation, Mr. Larson exceeded sales quotas in selling real-time network infrastructure and asset management software systems to large Fortune 1000 enterprises in banking, healthcare, travel, pharmaceuticals, heavy machinery, and education.
Mr. Larson will spearhead the U.S. and Canadian deployment of OVERDRIVE by introducing the product to his extensive list of industry contacts. OVERDRIVE provides TCP/IP compression for all data traffic (including web browsing, FTP, Lotus Notes, Outlook/Exchange, and CRM systems) enabling ISPs, enterprises, and wireless network operators to accelerate the performance of their networks.
"I feel that the data acceleration market is poised for explosive growth. People expect high performance access to information whether on the road or at home," said Mr. Larson. "I am very familiar with the needs of the ISP market and quite clearly see that increasing speed for dial-up customers is a key objective for ISPs as they try to differentiate and build market share."
"Mr. Larson's network of contacts and experience in the carrier, ISP, and enterprise markets is exactly what we are looking for to broaden OVERDRIVE sales in the North American market," said Derek Woods, CEO of Telesis. "The timing is particularly opportune as 80% of internet users are still using dial-up and ISPs are looking for ways to improve communications speed for those users. Additionally, we are seeing the major carriers launching wireless 'next generation' networks that require data acceleration software to support standard mobile computing applications."
Mr. Larson can be reached in his Chicago office at +1.630.553.3933 or by email to tlarson@telesis.ca
Pursuant to the hiring of Mr. Larson, Telesis also announced, effective September 3, 2002, that it has granted incentive stock options for Mr. Larson to purchase an aggregate of 30,000 common shares without par value in the capital of the Company. The incentive stock options will be exercisable for a period of 5 years expiring on September 3, 2007, at a price of Cdn $0.10 per common share. The options will vest, as to one third on September 3, 2003, with the balance vesting monthly over the following 24 months until fully vested, or will vest immediately in the event of a change of control of the Company or (at the discretion of the Board of Directors) takeover bid. The granting of the foregoing incentive stock options is subject to acceptance by the TSX Venture Exchange.
About Telesis
Founded in 1989, Telesis North Communications Inc. ("Telesis") (TSX Venture Exchange:TNC) (OTCBB:TNCVF) develops and markets data acceleration software for wireless and landline networks. The Company's core product, OVERDRIVE(TM) enables ISPs, enterprises, and wireless carriers to accelerate the performance of their networks by up to 10 times, resulting in cost savings and greater customer satisfaction. For accessing email, the web, or any corporate application, Telesis "makes data move faster." Headquartered in Toronto, Canada with regional offices in the UK and the USA, Telesis software products are distributed globally. For more information, please check our website: www.telesis.ca.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Adrian Stimpson President
Tel. +1.416.228.2373 E-mail: investor@telesis.ca Fax. +1.503.210.7115 Web Site: www.telesis.ca/s/Investors.asp
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This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created by these sections. Such forward looking statements, particularly as related to the business plans of the Company, expectations of strategic relationships, business opportunities, acquisitions of capital equipment, availability of investment capital and future financing, and the Company's ability to gain market share, are based on current expectations that involve a number of risks and uncertainties. Actual results may differ materially from the Company's expectations and estimates.
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