COPENHAGEN, July 26, 2001 (PRIMEZONE) -- Olicom A/S (OTCBB:OLCMF) ("Olicom" or "the Company"), announced today that an agreement about the acquisition of its portfolio company Juize A/S by RTS NetWorks PLC ("RTSe") has been signed.
The agreement makes RTSe the sole shareholder of Juize in exchange for approximately 5.8 million shares in RTSe. As part of the agreement, Olicom will subscribe additional new shares in RTSe for an amount of 550,000 pounds.
Juize is a Danish based company specialized in developing wireless Internet technology and solutions for Telephone Operators, Internet Service Providers and corporate enterprises.
RTSe designs and builds software to manage fixed and wireless Internet services for the PC, mobile phone, personal organizer and, in the future, for television screens, in-store terminals and points of sale. RTSe is listed on the London Stock Exchange Alternative Investment Market (AIM) and has offices in the UK, Finland, France and in the U.S.
"Juize's six initial products will not only be a source of stand-alone revenue, but by incorporation in our existing product lines will provide a further extension to the wireless capabilities of products like our home delivery and installation (Hdi)", says Bernard Fisher, Chairman of RTSe.
"We are very pleased to see Juize teaming up with an international company like RTSe, as they have the necessary skills and credibility to exploit the full potential of Juize's technologies," said Boje Rinhart, CEO of Olicom.
As the value of the transaction to Olicom is close to the current book value of its investment in Juize, the transaction will have little impact on the financial results for 2001.
About Olicom
Olicom initiates or participates in the development of new products and services that leverage leading-edge communications technologies, primarily with a focus on satisfying the needs of mobile data communication users. Business opportunities are identified both through Olicom's internal research and through the solicitation of ventures with start-up companies, which are offered seed and venture financing and access to the Company's established business network and infrastructure. More information about Olicom is available from the Company's SEC filings or by contacting the Company directly. Information is also available on the Company's Website at www.olicom.com.
Olicom is a registered trademark.
About Juize
Juize was founded in March 2000. It is a Danish based company specialized in developing wireless Internet technology and solutions for Telephone Operators, Internet Service Providers and corporate enterprises. These solutions are offered either as hosted solutions or as system sales. Juize's development team possesses competences within Oracle products, Java programming, WAP technology, SMS technology/SMS related protocols and HTML, WML, XML, VXML and JavaScript.
Currently Juize has entered into partnerships with four Service Providers where Juize will provide platform, technology, applications and content for SMS, overcharged SMS and SIM ATK based services as well as email/voicemail /unified messaging solutions. In addition to this Juize has formed technology partnerships with Motorola's Application Development Center in Stockholm, CMG and Oracle. Further information is available at www.juize.com.
About RTSe
RTSe is the trading name of RTS Networks PLC. RTSe has been a recognized player in the fixed and mobile Internet market since 1999, designing and building web and wireless applications for blue-chip clients. RTSe has solid development experience in a number of high growth markets: financial services (banks, brokerages); high street commerce (retail and consumer services); business to business commerce; online entertainment; publishing and government services. As new channels emerge, including next generation wireless and interactive digital television, RTSe is strongly positioned as one of a small number of companies capable of designing and developing 'multi-channel' services. In December 1999, RTSe was admitted to the London Stock Exchange Alternative Investment Market (AIM code=RTN). RTSe has subsidiaries in the UK, France, Finland and the U.S.. Further information is available at www.rtse.com
Except for historical information contained herein, the matters discussed in this news release may contain forward-looking statements that reflect the Company's current expectations and projections about its future results, performance, prospects and opportunities. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties and other factors that could cause its actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. Among the risks, uncertainties and other factors that could cause results to differ are uncertain market conditions, the successful implementation of the Company's new strategic direction; the Company's need to continue to identify and acquire interests in suitable portfolio companies; intense competition among capital providers to acquire interests in technology companies; the dependence of the Company on the financial and operating success of the enterprises in which it invests or participates; and existing and future regulations affecting the Company's business, the businesses of its portfolio companies or technology generally. Further information may be found in Olicom's periodic filings with the U.S. Securities and Exchange Commission (SEC), including the most recent reports on Form 20-F and 6-K, which identify important risk factors related to the Company's business that could cause actual results, performance, prospects or opportunities to materially differ from those contained in the forward-looking statements.