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News
Issue #2001 - 16
(Apr. 2001)
(Updated
April 18, 2001)
ACQUISITIONS,
MERGERS & AGREEMENTS
WRQ Spins Off its Mobile Access Business Unit
WRQ, Inc. of Seattle, WA,
announced that it has spun off its Mobile Access Business Unit into
an independent company, NetMotion Wireless Inc., in a move to
capitalize on opportunities for wireless connectivity solution.
In addition, the new company has secured $8-million in the first
round of funding from SeaPoint Ventures, in conjunction with
Northwest Venture Associates. WRQ will retain a minority investment
in NetMotion Wireless.
NetMotion Wireless will focus on wireless infrastructure systems
and its core product NetMotion™ Mobility Solution, which operates
as a mobile, virtual private network (VPN), for LAN and WAN
environments. The NetMotion client runs on Windows 95/98, Windows
CE, and PocketPC mobile devices. This solution offers enterprises
the opportunity to be more productive by giving them persistent,
secure, and manageable wireless connectivity, said Craig McKibben,
newly appointed president and CEO of NetMotion Wireless.
"We’re proud of the innovative NetMotion technology, which
was created internally by a talented team," said Doug Walker,
chairman and CEO of WRQ. WRQ saw that the NetMotion solution had
enormous potential, and by creating a separate company, 100 percent
of its resources could be used to maximize this opportunity, he
added.
For more information: http://www.wrq.com/news/pr/040301pr.html
Mobileinfo Comments and Advisory: A
good move!.
Note: This news release may contain
forward-looking statements. Readers should take appropriate caution in
developing plans utilizing these products, services and technology
architectures. All trademarks used in this summary are
the property of their respective owners.
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