CELCORE PARTNERS WITH UCOM FOR MAJOR EXPANSION IN ASIA WIRELESS MARKET; Thai conglomerate makes equity investment in Celcore.SINGAPORE--(BUSINESS WIRE)--Sept. 13, 1996--Celcore, Inc. announced today that it has completed a sale of preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. to UCOM UCOM United Currency Options Market UCOM Unordered Compare International Company Limited (UIC UIC University of Illinois at Chicago UIC Underground Injection Control UIC Union of Islamic Courts UIC United Industrial Corporation UIC Union Internationale des Chemins de Fer (International Union of Railways) ), a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of United Communication Industry Public Company Limited (UCOM) of Thailand. "Our strategy of partnering with a prominent company for global expansion has culminated in this significant investment by UCOM," said Robert Goodman, Celcore Chairman and Chief Executive Officer. "UCOM will be a great asset to assist us in pursuing and supporting new wireless market opportunities throughout Asia." By partnering with UCOM, Celcore will be able to significantly expand its market presence in Asia. Leveraging UCOM's expertise in implementing and operating wireless systems in the region, Celcore will be able to offer full turnkey solutions to wireless operators as well as introduce UCOM as a potential operating partner. UCOM is a premiere telecommunications conglomerate in Thailand. It is listed on the Thailand Stock Exchange with a market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of over $3 billion USD USD In currencies, this is the abbreviation for the U.S. Dollar. 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. . With thirty-five years of experience in telecommunications, UCOM is the sole distributor for Motorola products and the majority owner of Total Access Communications (TAC 1. TAC - Translator Assembler-Compiler. For Philco 2000. 2. TAC - Terminal Access Controller. ). In addition, UCOM is the foremost implementer of turnkey projects, a leader in trunked radio, and a provider for paging, data, and cable services. TAC, listed in the Singapore Stock Exchange, operates a nationwide AMPS cellular network in Thailand, as well as the first PCN-1800 network in Asia. Further, UCOM through TAC holds licenses and anticipates operating cellular networks in other Southeast Asian countries. "The investment in Celcore represents a logical extension of our core network service business. Celcore's wireless system is specifically designed for low-traffic density markets which is especially suitable for emerging markets in Asia," stated Poosana Premanoch, 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. of UCOM and Managing Director of TAC. The minority equity investment by UCOM is for the purchase of preferred stock and does not include any other interests in the company. With its purchase, UCOM holds a 10% equity interest in Celcore on a fully diluted basis. Celcore is a privately-held company based in Memphis, Tennessee, U.S.A., with regional offices in Chicago, Dallas, Little Rock, Miami, San Jose, Seattle, Toronto, and Bangalore, India. The ownership of Celcore includes its management and employees, venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] and institutional investors. Founded in 1992, Celcore develops and markets wireless infrastructure equipment worldwide. Based on a distributed client-server architecture, Celcore's GlobalSystems portfolio of cellular, fixed wireless, GSM, and PCS systems are designed for cost-effective deployment in low-traffic density markets. Celcore cellular systems are deployed in North America, Africa, Asia/Pacific, and Eastern Europe. The GlobalHub(TM) intelligent network platform is a market leader for advanced personal mobility services with deployment in major markets and rural areas across North America. CONTACT: Celcore, Inc., Memphis Steve Chen, 901/759-5155 or UCOM Naruemon Weeradecha, 66-2-642-7474 |
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