Bridge Divests 60% of Wireless Operations.Business Editors & High-Tech Writers GARDEN GROVE Garden Grove, city (1990 pop. 143,050), Orange co., S Calif., a suburb of Long Beach and Los Angeles, on the Santa Ana River; founded 1877, inc. 1956. Many of its residents work in nearby aerospace and defense installations, and there is light manufacturing. , Calif.--(BUSINESS WIRE)--Nov. 30, 2000 Bridge Technology, Inc. (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 : BRDG BRDG Bridge ) a rapidly expanding international company supplying digital data storage and communications components announced today the sale of 60% interest in Bridge's subsidiary, Pacific Bridge Net (PBN PBN Paint By Number PBN Procurement Business Number PBN Pyrolytic Boron Nitride PBN Policy-Based Networking PBN Performance-Based Navigation PBN Progressive Bengali Network PBN Paintball Nation PBN Permanent Background Notices ), to Worldwide Wireless Networks, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: WWWN.OB), a leading wireless infrastructure company and a Bridge strategic partner. PBN is in negotiations to build a wireless infrastructure system in Europe, which may conflict with Bridge's business model. "This sale gives WWWN a majority interest in PBN and allows Bridge to focus on what we do best -- supplying our products to our customers," said John J. Harwer, President of Bridge. PBN will be focused on deployment of specific wireless networks in Europe and China newly established partnerships and Joint Ventures. WWWN's experienced network engineers have been reviewing the specifications of these new deployments. "This puts PBN where it belongs -- with Worldwide Wireless Networks," said Harwer. Bridge will continue to sell wireless network components to Worldwide Wireless, PBN and other customers in US and Asia as originally planned. Bridge expects to report revenue increases of at least 200%, for year ended December 31, 2000 as compared to revenues for 1999. Bridge designs and develops digital infrastructure components for information flow and information storage. The company bridges the global market place with US designed technology, supplying advanced products to major OEMs in US, Europe and China. "We are directing our resources towards higher profit margins by expanding our core business, both through internal growth and through strategic acquisitions. We have been delivering high volume of products to the expanding China market through the Gateway we established. We believe this is the perfect time to launch our new state-of-the-art products into the China market," added Harwer. About Bridge Technology Bridge Technology, Inc. designs, develops, manufactures and sells digital recording, storage and communication components. The company, with subsidiaries in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Japan and Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , also is a design innovator for the data, voice, multimedia, Internet and wireless communication industries. More information on Bridge Technology, Inc. may be obtained via the company's website at www.bridgeus.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under 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 statements contained in this release, which are not historical facts, may be deemed to contain forward-looking statements including, but not limited to, deployment of new services, growth of the customer base, and growth of the service area, among other items. Actual results may differ materially from those anticipated in any forward-looking statement with regard to magnitude, timing, or other factors. Deviation may result from risk and uncertainties, including, without limitation, the Company's dependence on third parties, market conditions for the sale of services, technical factors affecting networks, availability of capital, and other risks and uncertainties. The Company disclaims any obligation to update information contained in any forward-looking statement. |
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