724 Solutions Announces Agreement for X-treme Mobility Gateway.SANTA BARBARA, Calif. -- 724 Solutions (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :SVNX)(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :SVN SVN Subversion (version control system) SVN Slovenia (international traffic code) SVN Social Venture Network SVN South Vietnam SVN Secure Virtual Network SVN Supervised Visitation Network ), a leading provider of next-generation, IP-based network and data services, today announced the signing of an agreement with a leading mobile network operator to provide the X-treme Mobility Gateway (XMG XMG Xavier Media Group XMG Crossmaglen (British army base in County Armagh, near Ireland) XMG Cross-Media Gaming ) as a turnkey solution. The X-treme Mobility Gateway (XMG) solution is an open and secure, massively scalable, highly fault-tolerant mobile internet WAP (1) (Wireless Access Point) See access point. (2) (Wireless Application Protocol) A standard for providing cellular phones, pagers and other handheld devices with secure access to e-mail and text-based Web pages. 1.X/2.0 gateway proven in geographically distributed environments, providing seamless inter- and intra-site fail over, resulting in continuous availability of services to subscribers. XMG also provides mobile network operators with industry-leading total cost of ownership (TCO (1) (Total Cost of Ownership) The cost of using a computer. It includes the cost of the hardware, software and upgrades as well as the cost of the inhouse staff and/or consultants that provide training and technical support. See ROI. ) as a result of inherent architectural performance advantages and the flexibility to be deployed on a choice of system environments, including Linux. XMG allows mobile network operators to offer their subscribers premium content data services, including sending and downloading photos, color graphics, audio, music clips, ring tones, games, and video clips. About 724 Solutions 724 Solutions (NASDAQ:SVNX)(TSX:SVN) delivers reliable, scalable technology and solutions that allow mobile network operators to rapidly deploy flexible and open, next-generation, IP-based network and data services. Additionally, in conjunction with mobile operator partners, the company provides a series of actionable alerting solutions to enterprises to assist them in lowering operating costs and improving customer relationship management. 724 Solutions is a global company, with development operations in Canada and Switzerland and its corporate office in Santa Barbara. For more information, visit www.724.com. This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements include the statements herein regarding: the services and products that will be offered by 724 Solutions, the benefits that businesses will obtain from these services and products, future demand for these services and products, our future operating and cash performance, our plans and prospects and the sufficiency of our cash resources. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including the risk that 724 Solutions will be unable to deploy its solutions and products; the risk that the demand for these solutions and products, or for 2.5G and 3G networks, will not increase as presently anticipated; the risk that general economic conditions will not improve or deteriorate; and other risks described in 724 Solutions' Securities and Exchange Commission filings, including its annual report on Form 10-K and its quarterly reports on Form 10-Q. These risks are also described in 724 Solutions' filings with the Canadian Securities Administrators Canadian Securities Administrators(CSA) is a forum for the 13 securities regulators of Canada's provinces and territories to coordinate and harmonize regulation of the Canadian capital markets. . 724 Solutions does not undertake any obligation to update this forward-looking information, except as required under applicable law. |
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