Bridge Technology, Inc. Severs Relationship with Worldwide Wireless Networks, Inc.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)--Feb. 12, 2001 Bridge Technology, Inc. (Nasdaq:BRDG BRDG Bridge ), a digital data storage and communication components company, announced today that it has informed Worldwide Wireless Networks, Inc. (Worldwide) that all agreements between the two organizations, including stock exchanges, have been cancelled. Included in this announcement is the cancellation of the 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 ) agreement, whereby Worldwide was to acquire a majority interest. PBN specializes in wireless broadband High-speed wireless transmission of data. What is "high" speed is always a changing number. Wireless systems are typically slower than land-based, wireline networks. In the past, wireless broadband started at 250 Kbps, whereas land-based broadband was generally considered to start at T1 communications with focus on deployment of specific wireless networks in Europe and China. John Harwer, 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. of Bridge Technology stated: "Worldwide has experienced significant internal changes recently. New management has advised us that Worldwide's market focus is entirely domestic at this time. All previous agreements between our two companies were predicated on a global approach. Bridge Technology maintains enthusiasm for the international wireless markets, especially China and Europe. As a result, Bridge and its strategic partner, Raytheon, will pursue business independent of Worldwide Wireless Networks, Inc." About Bridge Technology Bridge Technology, Inc. manufactures, markets and distributes digital recording, storage and communication components primarily to long standing OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and customers. The company, with subsidiaries in the United States, Japan and Hong Kong, is also a design innovator for the data, voice, multimedia, Internet and wireless communication industries. More information on Bridge Technology, Inc. may be obtained over the Internet 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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