Airgate Technologies Reaches Definitive Agreement with the X-Change Corporation.Business Editors/High-Tech Writers DALLAS--(BUSINESS WIRE)--Feb. 2, 2004 Airgate Technologies, Inc. and the X-Change Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :XCHC) are pleased to announce that they have reached a definitive agreement for the acquisition of Airgate Technologies, a privately held corporation Noun 1. privately held corporation - a corporation owned by a few people; shares have no public market close corporation, closed corporation, private corporation with headquarters in Dallas. The Airgate Technologies' and the X-Change Corporation Boards of Directors and the shareholders of Airgate Technologies approved this agreement. Closing of the agreement is Friday, February 6, and further details will be available. Effective immediately, the board of directors of Airgate Technologies and the X-Change Corporation are Michael Sheriff (Chairman), Thomas Tucker Thomas Tucker may refer to:
"The simplicity of and Zero-power requirement of an RFID (Radio Frequency IDentification) A data collection technology that uses electronic tags for storing data. The tag, also known as an "electronic label," "transponder" or "code plate," is made up of an RFID chip attached to an antenna. electronic tag electronic tag electronic n → elektronische Fußfessel f has made it technically and financially feasible to usher in Verb 1. usher in - be a precursor of; "The fall of the Berlin Wall ushered in the post-Cold War period" inaugurate, introduce commence, lead off, start, begin - set in motion, cause to start; "The U.S. a world of universal identification. As a result of the oncoming RFID tsunami, business opportunities are being created in multiple and diverse vertical industries: from wireless 'sensors' to high-speed data links to RFID tag An electronic identification device that is made up of a chip and antenna. For reusable applications, it is typically embedded in a plastic housing, and for tracking shipments, it is usually part of a "smart" packaging label. fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. and finally to the computer systems that will be needed to 'ingest' vast amounts of data, that has never before existed," stated Michael Sheriff, "and moreover, integrate and evolve current business systems. New technologies must be invented, adapted, and marketed in order to gain mind-share, customer-share and revenue share. A strong cycle of innovation is about to be unleashed, and we look forward to the opportunities." Airgate Technologies has assembled a senior management team to execute its objectives. In addition to its telecommunications experience, this seasoned team possesses an excellent background in management, finance, sales and marketing, and operations. About Airgate Technologies Airgate Technologies is a development stage company specializing in wireless technologies. The Company designs and develops network applications utilized in RFID ("radio frequency identification See RFID. ") deployments. Airgate will deliver RFID solutions in selected vertical markets built around a data management and integration strategy. This strategy is designed to insure rapid market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" and maximum return on investment. About the X-Change Corporation The X-Change Corporation is a company that was organized to seek merger or acquisition candidates. The Company intends to acquire interests in emerging technology opportunities that the Company believes will generate significant revenues and return a profit to shareholders. Forward-Looking Statements Except for historical information contained herein, the statements made in this release constitute forward-looking statements (including within the meaning of Section 27A of the United States Securities Act of 1933 and Section 21E of the United States Securities Exchange Act of 1934). Such forward- looking statements are based on current expectations that are subject to significant risks and uncertainties that are difficult to predict, including statements regarding the intent, belief or current expectations of the X-Change Corporation, Airgate Technologies and their respective managements regarding strategic directions, prospects and future results. The acquisition described above may not be consummated. There are a number of conditions that must be satisfied before the acquisition transaction will be consummated such as approval of the merger by Airgate Technologies' stockholders and the X-Change Corporation's satisfaction, in its sole discretion, of its due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. investigation of Airgate Technologies. No assurance can be given that the acquisition will be consummated, or, if consummated, that the acquisition transaction will be on the terms described above. In addition, uncertainties and difficulties in domestic and foreign financial markets and economies could adversely affect the acquisition transaction. These factors, as well as general economic and political conditions, may in turn have a material adverse effect on the acquisition transaction. Neither the X-Change Corporation nor Airgate Technologies assumes any obligation to update the forward-looking statements, nor to update the reasons why actual results could differ from those reflected in the forward-looking statements. |
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