Printer Friendly
The Free Library
19,585,950 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

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.
COPYRIGHT 2000 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2000, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Nov 30, 2000
Words:478
Previous Article:Tricon Global Restaurants, Inc. - Announces November Sales; Reconfirms 2000 Operating EPS of At Least $2.95.
Next Article:U.S. Consumers Remain Bullish On Online Shopping This Holiday Season, According to Ernst & Young Study.
Topics:



Related Articles
The advantages of coming unwired.
The big comeback.
Bridge Technology, Inc. Announces Worldwide Wireless Networks Alliance.
D-LINK DELIVERS VERSATILE WIRELESS 11B COMBO BRIDGE OR ACCESS POINT.
ARCO HEAD CONFIDENT OF MERGER : MERITS OF BP LINK STRONG, HE CONTENDS.
GOLDEN GATE BRIDGE LANDMARK NOMINATION HAS OFFICIALS WORRIED.
Bridge Technology Bites Bullet.
Reuters sells bridge trading and acquires HedgeWorld & Tass Research.
Reed Business seeks buyer for New Products division.

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles