Aspiro Converts Its Venture Division Into an Independent Subsidiary Company.Business Editors STOCKHOLM Stockholm (stŏk`hôlm'), city (1995 pop. 692,954), capital of Sweden and of Stockholm co., E Sweden, situated where Lake Mälaren flows into the Baltic Sea. , Sweden--(BUSINESS WIRE)--Nov. 23, 2000 Aspiro's division for risk capital investment is being spun off to become an independent company. The move is a continuation of Aspiro's strategy to focus on its core business activities. Since its creation in February of this year, Aspiro's investment division has been a fully integrated part of Aspiro AB. Aspiro's Board has now put forward a proposal to an extra general meeting of the company's stockholders to convert the division into an independent wholly-owned subsidiary company The Board has also proposed issuing option rights to leading decision-makers and other key personnel in this company. The new company also creates the possibility for a future broadened ownership base. To date, Aspiro Ventures has invested NOK NOK In currencies, this is the abbreviation for the Norwegian Krone. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 3 million in the Norwegian Norwegian associated in some way with Norway. Norwegian buhund, Norwegian sheepdog a medium-sized (26-40 lb), spitz-type dog with a short, dense coat in wheaten, black, red or sable, sometimes with black markings on the face, ears company Colibria AS. "As an independent company, the venture business activities will gain a better commercial focus on finding new technologies and products in the area of mobile services," says Lena Lena (lē`nə, Rus. lyĕ`nə), river, easternmost of the great rivers of Siberia, c.2,670 mi (4,300 km) long, rising near Lake Baykal, SE Siberian Russia. Wittbjer, Aspiro's 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. . "At the same time, the move frees resources within Aspiro that will help the company to continue focusing on its own core business activities, that of providing mobile applications and services." "The new investment company will function as a commercial innovation center for Aspiro. And since the risk capital investments will create a network of new and interesting technologies and applications, Aspiro will be able to draw operational advantages from its part ownership by way of exciting new collaborations and partnerships." Christer Mansson has been appointed CEO of the new venture company. Mansson is one of the three founders of Aspiro and has actively worked with mobile services for over 15 years, including positions at Europolitan and Ericsson. Besides Christer Mansson, the venture company also currently employs three people with a further fifteen years of telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. experience. "The greater part of the explosion of ideas within mobile Internet Refers to gaining access to the Internet using a lightweight, handheld device. See Mobile IP, PDA, smartphone and mobile TV. that Sweden is currently experiencing consists of entrepreneurs and new small companies. Many of these ideas will develop into strong international companies over the next few years, especially when the usage of new mobile technologies such as GPRS (General Packet Radio Service) The first high-speed digital data service provided by cellular carriers that used the GSM technology. GPRS added a packet-switched channel to GSM, which uses dedicated, circuit-switched channels for voice conversations. , UMTS (Universal Mobile Telecommunications System) The GSM implementation of the 3G wireless phone system. Part of IMT-2000, UMTS provides service in the 2 GHz band and offers global roaming and personalized features. and Bluetooth increases. It is these ideas which the new venture company will invest in," says Christer Mansson. About Aspiro Aspiro provides mobile Internet services, promoting life in motion, using cutting-edge knowledge and technologies. Aspiro offers operators, content providers and mobile organizations a wide range of solutions, from pre-packaged portal services to industry-specific solutions. Founded in 1998, Aspiro is today an important player in the global mobile Internet market. 125 people currently work for the company, which has offices in Sweden, Luxembourg and USA. Aspiro's business concept, organization and operations are based on many years of experience gained in the mobile telecommunications and IT industries. For further information about Aspiro, please visit www.aspiro.com ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. : http://www.bit.se/bitonline/2000/11/23/20001123BIT00520/bit0001.doc http://www.bit.se/bitonline/2000/11/23/20001123BIT00520/bit0002.pdf |
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