Aether Systems Increases Investment in Omnisky Corporation.OWINGS MILLS, Md.--(BUSINESS WIRE)--Nov. 17, 1999-- Aether Systems, Inc., (Nasdaq: AETH), a leading provider of wireless data systems and services, today announced it has exercised its option to increase its investment in OmniSky Corporation, a new privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. that provides wireless Internet and e-mail service See Internet e-mail service. to multiple handheld devices and wireless data networks. Aether, which is a joint principal owner of OmniSky with 3Com Corp., invested an additional $2.5 million, increasing its stake in the company from 26 percent to 33 percent. "This is a key strategic move for us," said Aether President and Chief Executive Officer David Oros. "As the first true wireless Internet service provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. , OmniSky is an important part of Aether's strategy to be the leading provider of wireless data systems and services to enterprise customers." OmniSky on Nov. 15 announced the beta launch of its first Web and e-mail service, to be provided jointly with AT&T Wireless Services. Aether is providing the engineering development, hosting, network operations management Operations management is an area of business that is concerned with the production of goods and services, and involves the responsibility of ensuring that business operations are efficient and effective. and technical support for the service. Aether also plans to bundle OmniSky Web and e-mail services with customized wireless applications that Aether is developing and delivering for enterprise customers, including stock trading and financial information. Aether Systems Inc. is a leading provider of wireless data services and systems that enable the use of wireless handheld devices for 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. Aether offers a broad range of wireless data services, including real-time stock quotes and financial data, stock trading, Internet access See how to access the Internet. and e-mail. Headquartered in Owings Mills, Md., Aether also has offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Illinois and Florida. Visit Aether's web site at http://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, Aether's limited operating history with subscriber based services, Aether's historical losses and potential larger future losses, the infancy of the wireless data industry where there is no established market for our products and services, Aether's ability to adapt to rapid technological change, Aether's dependence on wireless networks owned and controlled by others and Aether's reliance on a small number of customers. These risks and other risk factors are described in Aether's Form prospectus under the caption, "Risk Factors" 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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