Aether Systems Invests $8 Million in ePhones; Wireless Leader to Become Preferred Provider of Data Products and Services for the ePhones Powered Network.Business Editors/Hi-Tech Writers OWINGS MILLS, Md.--(BUSINESS WIRE)--Aug. 1, 2000 Aether aether: see ether, in physics and astronomy. Aether god of whole atmosphere. [Gk. Myth.: Jobes, 42] See : Air Systems, Inc. (Nasdaq:AETH), a leading provider of wireless data products and services, announced today that it has completed an $8 million strategic investment in ePhones. ePhones enables wireless Internet products and services, powering Web sites for more than 175 wireless retailers and Internet partners representing more than 500 retail stores nationwide. "As the dominant leader in wireless data, Aether is dedicated to supporting best-of-breed solutions and products in the wireless industry," said David Oros, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Aether Systems. "ePhones has the channel strength and breadth to significantly impact the marketplace. We are happy to have a lasting relationship with a company that will enable Aether's products to penetrate the business and consumer markets." Aether is the lead investor in the Series C round of financing, and is accompanied by ePhones' existing investors, U.S. Venture Partners, Alta Partners, Alta Communications, and Kim Cooke, Managing Director of Blue Water Capital, who invested an additional $2.5 million, for a total of $10.5 million. In addition to the investment, Aether will become a preferred provider of wireless data solutions for ePhones. This agreement will enable ePhones partners to offer Aether services through the ePhones Powered Network. The ePhones Powered Network is the first multi-channel network of its kind, offering Aether a specialized channel capable of delivering new wireless Internet services to qualified customers. "Our relationship with Aether will enable us to offer best-in-class wireless solutions through the rapidly expanding ePhones distribution channel," said Michael Merrill, Chairman & CEO of ePhones. "Aether's support enhances the portfolio of leading edge wireless services we can offer our partners." The ePhones Powered Network provides complete solutions, allowing partners to significantly expand their product lines with no software development or inventory carrying costs Carrying costs Costs that increase with increases in the level of investment in current assets. . ePhones enables partners to add a fully functioning wireless e-Commerce operation quickly and easily, while maintaining the flexibility to set their own business rules. Partners choose from a wide range of customization tools, selecting the products and services that suit their needs, and the rapid deployment solution seamlessly integrates new services with their existing operations. ePhones also provides partners with sales, marketing, training and operational support for new wireless Internet services. About ePhones ePhones enables wireless Internet commerce and services, powering wireless Internet sites for over 175 partners nationwide. The ePhones Powered Network allows wireless retailers to add a fully functioning wireless e-Commerce operation quickly and easily, and Internet retailers can add wireless services to their product line virtually overnight. With over 11 years experience in the wireless industry, ePhones offers the widest selection of wireless and telecom services available online. ePhones, formerly named Totally Wireless, is backed by U.S. Venture Partners Alta Partners, and Alta Communications. ePhones is based in Fremont, CA, with retail stores in California, Washington and Utah, and is privately held. About Aether Systems Aether Systems, Inc. is a leading provider of wireless data products and services. Using its engineering expertise, its 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, its ScoutWare family of products (upon completion of its acquisition of Riverbed Technologies Riverbed is a corporation providing wide area data services (WDS). Riverbed Technology's world headquarters is located in San Francisco, California. , Inc.) 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 Systems seeks to provide comprehensive, technology-independent wireless and mobile computing Using a computing device while in transit. Mobile computing implies wireless transmission, but wireless transmission does not necessarily imply mobile computing. Fixed wireless applications use satellites, radio systems and lasers to transmit between permanent objects such as buildings solutions. 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, Florida, and the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay . Aether is a joint principal owner, along with 3Com Corp., of OmniSky, Inc., a 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. based in Palo Alto Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif. Aether headquarters are located at 11460 Cronridge Dr., Owings Mills, MD 21117. Visit Aether's web site at 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 ability of Aether and ePhones to successfully integrate respective technologies and the ability to offer services on a cost-effective basis. These risks and other risk factors are described in Aether's most recently filed prospectus 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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