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NEWS ACQUISITIONS, MERGERS & AGREEMENTS OmniSky To Acquire NomadIQ Recognizing the competitive advantages that location-based applications can fuel in the wireless services market, OmniSky Corporation has entered into a definitive agreement to acquire Israeli-based NomadIQ, a provider of location-based applications and services. OmniSky will acquire NormadIQ for a 2.5 million in common stocks. With the acquisition of NomadIQ, OmniSky plans to accelerate its delivery of next generation services to its subscribers, including location-sensitive m-commerce and user-to-user communications, all in an effort to strengthen its position in the market. The Chairman and CEO of OmniSky Patrick McVeigh, said, "We expect NomadIQ’s platform to enhance our revenue opportunities, to further differentiate our service in the market, and importantly, to help us continue to grow a loyal and active community of subscribers." NomadIQ’s unified communications platform enables the delivery of location-based services that leverages both on-line and cached data on handheld devices. The wireless service provider will integrate NomadIQ’s technology into its product offering, enabling subscribers equipped with wireless devices to perform the following:
OmniSky expects to roll out an integrated service by the end of the first half of 2001. Similar services will be offered in Europe via OmniSky’s International Joint Venture with News Corp., the company said. For more information: www.omnisky.com/company/press_releases/press_20010104_0079.jhtml Mobileinfo Comments and Advisory: This is a good move on the part of OmniSky. However, OmniSky should be patient with getting measurable revenue from location-based services. It is good for NomadIQ to be associated with OmniSky. 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. NEWS
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