Aether Systems, Inc. To Acquire LocusOne Communications, Inc.Business Editors/High Tech Writers OWINGS MILLS, Md.--(BUSINESS WIRE)--Jan. 25, 2000 $40 million acquisition gives Aether aether: see ether, in physics and astronomy. Aether god of whole atmosphere. [Gk. Myth.: Jobes, 42] See : Air access to a new market: Providing wireless data solutions for transportation, logistics and supply chain management Aether Systems, Inc. (Nasdaq: AETH) announced today that it has agreed to acquire LocusOne Communications, Inc. of Richmond, Va., a privately held provider of wireless supply chain fulfillment solutions, for $40 million in cash. The acquisition is subject to stockholder approval and other customary closing conditions. Aether expects that the acquisition will be completed at the beginning of February. LocusOne provides wireless data solutions to companies that distribute goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. using their own delivery fleets. Its customers include Office Depot Office Depot (NYSE: ODP) is one of the world's leading suppliers of office products and services. The Company's selection of brand name office supplies includes business machines, computers, computer software and office furniture, while its business services encompass copying, , NuCo2, Suntory Water Group, MAC Papers and Physician Sales &Service. Wireless technology helps these customers improve efficiencies through better tracking, tracing and reporting of inventories that flow through their supply chains. The acquisition of LocusOne gives Aether access to a new vertical industry, supply chain management, which Forrester Research Forrester Research is an independent technology and market research company that provides its clients with advice about technology's impact on business and consumers. Corporate facts
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&uot;LocusOne brings us to our next vertical market segment: high-quality, high-security wireless data solutions in the transportation, logistics and supply chain management markets,&uot; said David Oros, president and chief executive officer of Aether Systems. &uot;LocusOne will allow Aether to quickly push into this fast-growing field.&uot; &uot;I am excited to be joining Dave Oros and his experienced team at Aether,&uot; said Richard Ramsey, LocusOne's chief executive officer. Aether plans to keep LocusOne's 30 employees, including its executive team, in place after the acquisition. &uot;By teaming with Aether, LocusOne can serve its existing customers even more effectively as well as build on its success in the distribution market to help drive the adoption of wireless data solutions in a variety of industries.&uot; Wireless data technology can help companies more effectively integrate the delivery process with their overall e-commerce strategies, improve cash flow and customer service and generally streamline operations throughout the supply chain. For instance, real-time communications for mobile workforces allow employees to answer customer questions, provide up-to-date information, obtain payment and update delivery schedules no matter where they are. About LocusOne LocusOne is an industry pioneer in the area of delivery tracking for private fleets, combining handheld computing computing - computer and wireless with the power of the Internet to solve real-world transportation problems for large corporations. LocusOne's e-Mobile platform and delivery software enable companies to more effectively integrate the delivery process with their overall e-commerce and supply chain management strategies. For more information, visit LocusOne's Web site at www.locusone.com. About Aether Systems Aether Systems is a leader in the field of wireless data, providing real-time data Real-time data denotes information that is delivered immediately after collection. There is no delay in the timeliness of the information provided. Some uses of this term confuse it with the term dynamic data. communications and transactions services that operate over multiple wireless data networks, devices and back-end corporate data systems. Using its engineering expertise, its unique Aether Intelligent Messaging An earlier messaging system from Banyan Systems that ran on NetWare and VINES servers and incorporated Banyan's popular Streettalk directory service. It included a basic mail program, which could be upgraded to the more advanced BeyondMail system. See ePresence. (AIM) software platform and its customer service and network operations center See NOC. Network Operations Center - (NOC) A location from which the operation of a network or internet is monitored. Additionally, this center usually serves as a clearinghouse for connectivity problems and efforts to resolve those problems. , Aether designs, develops, sells and supports turnkey wireless data systems for business customers. Aether's initial focus has been on developing and supporting wireless data applications for leaders in the financial services industry. For more information, visit Aether's Web site, www.aethersystems.com. This press release includes forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. based on our current expectations and projections about future events. These forward-looking statements are subject to a number of risks, uncertainties and assumptions about Aether that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, the growth of the supply chain management industry, continued development and customer acceptance of the technology to be acquired by Aether, the ability to offer it on a cost-effective basis and the ability of Aether to integrate the operations of LocusOne into its business. These risks and other risk factors are described in Aether's Form S1/A prospectus under the caption, &uot;Risk Factors&uot; filed pursuant to Rule 424(b) with the Securities and Exchange Commission. Aether undertakes no obligation to update the forward looking statements contained in this press release. |
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