Wireless Matrix to Acquire Norcom Networks

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NEWS
Issue #2001 - 03 (Jan. 2001)
(Updated on Jan. 17, 2001)

ACQUISITIONS, MERGERS & AGREEMENTS

Wireless Matrix to Acquire Norcom Networks

Canada’s Wireless Matrix Corporation has announced that it will acquire Norcom Networks Corporation of Reston, Virginia. The transaction is scheduled to close on February 28, but may be postponed until April 30. The purchase price is up to 15,461,647 common shares of Wireless Matrix, the company said.

Majority owned by Telenor Mobile Communications AS of Norway, Norcom Networks addresses the problem of total-coverage of wireless systems by offering fast and seamless integration of satellite and terrestrial coverage. It provides wireless data services and products for organizations that must manage assets in remote areas as well as national or regional mobile workforces. The company has built a solid customer base in North America, with plans of expanding globally.

With the acquisition, Wireless Matrix plans to target key global markets by bundling its IP Anywhere wireless data service, which employs the wireless technologies to extend Internet to all electronic devices and fixed assets such as pipelines to oil and gas wells, with Norcom’s wireless WAN and mobile solutions.

Dr. J.T. Knight, chairman and CEO of Wireless Matrix said that with the transaction, we can deliver "on our plans and promises of global operations across multiple verticals, while simultaneously broadening our service offering."

Once the transaction is closed, Wireless Matrix expects to fulfill the following:

Target under served vertical and geographic markets, including utilities, transportation, logistics, and workflow management.
Improve service to end-users.
Move toward a more seamless global platform for IP Anywhere™ rollout, in oil and gas and other verticals.
Move closer to the communications network infrastructures of preferred wireless technologies and carriers.
Delivery of more complete service packages for customers.

For more information: www.wirelessmatrixcorp.com/investor_relations/press_releases/01Jan08.asp

Mobileinfo Comments and Advisory: Logistically, combining satellite coverage with localized terrestrial wireless coverage is an attractive network option for those vertical industries where field force personnel have travel outside the city core - public safety and transportation in particular. However, delivery of this hybrid solution has posed technological challenges - organizational positioning of their core network services, software's inability to detect signals from these two networks and a lack of a small footprint multi-network modem or a swicthover box. Padcom's TotalRoam was among the first product to offer such a switcover capability but their box is pricey and service expensive. Wireless Matrix/Norcom want to provide the networks. We hope that this merger will help in increasing competition and broadening the market. We wish that Padcom would partner with Matrix/Norcom to bring greater stability to this niche market.

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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