ArelNet Ltd. Launches U.S. Subsidiary; Dr. Matti Laserson Named President of ArelNet, Inc. To Spearhead North American Growth.Business Editors YAVNE, Israel--(BUSINESS WIRE)--March 27, 2000 Seeking to aggressively pursue the Internet Protocol See Internet and TCP/IP. (networking) Internet Protocol - (IP) The network layer for the TCP/IP protocol suite widely used on Ethernet networks, defined in STD 5, RFC 791. IP is a connectionless, best-effort packet switching protocol. (IP) telephony marketplace in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , ArelNet Ltd., a subsidiary of Arel Communications & Software, Ltd. (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 : ARLCF), today announced the creation of a U.S. subsidiary, ArelNet, Inc., based in Norwood, New Jersey Norwood is a Borough in Bergen County, New Jersey, United States. As of the United States 2000 Census, the borough population was 5,751. Norwood was formed as a borough by an Act of the New Jersey Legislature on March 14, 1905, from portions of Harrington Township. . Dr. Matti Laserson, with nearly 20 years of experience launching new companies as well as marketing new technologies, has been named president of the new company. His responsibilities include managing company sales, marketing and customer service activities for the North and South American markets. Dr. Laserson is setting up the U.S. headquarters in New Jersey, as well as a satellite office in Miami targeting Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. . The formation of ArelNet, Inc. represents ArelNet Ltd.'s dedication to becoming a leading player in the emerging, global IP telephony arena. "The increasing number of Internet telephony service providers (communications) Internet Telephony Service Providers - (ITSP) Companies providing IP Telephony. and other network operators makes North and Latin America crucial markets for our IP telephony products," said Amichai Sobol, President, ArelNet Ltd. "By establishing ArelNet, Inc., we are demonstrating our commitment and strengthening our ability to serve this growing customer base." "The combination of Matti Laserson in the U.S. and Amichai Sobol in Israel gives us an unmatched team to move ArelNet forward, "said Rachel Bennun, 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. , ArelNet Ltd. Prior to joining ArelNet, Dr. Laserson was Executive Vice President of TransSKY, a company that developed Wideband Code Division Multiplex Access (WCDMA (Wideband CDMA) A 3G high-speed digital data service provided by cellular carriers that use the TDMA or GSM technology worldwide, including AT&T (formerly Cingular) and T-Mobile in the U.S. ) technology to meet the standards of third-generation cellular communications. His past experience in the technology industry includes co-founding and serving as Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. and Vice President of Sales at Origin Technologies and five years in Digital Equipment Corporation (DEC) as manager for large military and government sales accounts in Israel. Dr. Laserson has a medical degree from Hebrew University in Jerusalem and was a fighter pilot in the Israeli Air-Force. Dr. Laserson's appointment follows the recent selection of Amichai Sobol as President of ArelNet Ltd., which is based in Israel and focuses on worldwide sales and marketing of the Company's IP telephony products. About ArelNet ArelNet Ltd. is a leading provider of IP telephony solutions to carriers, next generation telecommunications companies, Internet service providers 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. and value-added telecommunications service providers. The Company's i-Tone product line offers real-time communications as well as enhanced fax and voice value-added services using a single platform. New services are being added continuously to ensure that i-Tone customers maintain a leading edge in the IP market. ArelNet Ltd. is owned by Arel Communications and Software Ltd. (NASDAQ: ARLCF), Nortel Networks (NYSE NYSE See: New York Stock Exchange : NT), Elron (NASDAQ: ELRNF) and Keppel Telecommunications & Transportation. About Arel Communications and Software Ltd. Arel Communications and Software Ltd., a leading e-training firm, designs, develops, integrates and markets a family of products in the Interactive Distance Learning market called IDEAL. Arel markets the IDEAL system in the U.S. and Canada through its fully own subsidiary - Arel Communications and Software Inc., based in Atlanta. Certain statements made herein that are not historical are forward-looking within the meaning of the 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. The words "estimate," "project," "intend," "expect," "believe," "hopeful" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to the Company's products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for the Company's products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key partners, inability to attract and retain qualified personnel, inability to protect the Company's proprietary technology and risks associated with the Company's international operations and its location in Israel. For additional information regarding these and other risks and uncertainties associated with the Company's business, reference is made to the Company's reports filed from time to time with the Securities and Exchange Commission. This press release and prior press releases are available on the KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Worldwide Web site at http://www.kcsa.com/ |
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