CP Clare Invests in Quality of Service Provider, EnrichNet; CP Clare is Laying the Groundwork for the Broadband Networked Home.Business/Technology Editors BEVERLY, Mass.--(BUSINESS WIRE)--March 21, 2000 Recognizing the synergy between its home networking initiative and Quality of Service (QoS) technology, CP Clare Corporation (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 :CPCL CPCL Chennai Petroleum Corporation Limited CPCL Computer Program Change Library CPCL Computer Program Control Library CPCL Component Prioritized Collection List ) announced today that the Company has invested $250,000 in Series A Convertible Participating Preferred Stock Participating Preferred Stock A type of preferred stock that, under certain conditions, gives holders the right to receive earnings payouts over and above the specified dividend rate. in EnrichNet, Inc., a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. developing Local Area Network (LAN (Local Area Network) A communications network that serves users within a confined geographical area. The "clients" are the user's workstations typically running Windows, although Mac and Linux clients are also used. ) QoS software solutions. The investment lays the groundwork for future opportunities for the two companies to leverage the power of a combined hardware and software solution that will create a digital broadband network delivering real-time voice and video within a home or small office environment. "This investment signifies our commitment to the rapidly growing home and small office networking market and our belief in EnrichNet's Quality of Service technology," said Arthur R. Buckland, president and 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 CP Clare. "Through this investment we will have access to EnrichNet's leading-edge technology along with the opportunity to share in its future success." Shel Horowitz, president and CEO of EnrichNet, states, "The convergence of communications and data is expediting us toward a non-geographical society. Our future will allow us 100% connectivity 100% of the time, regardless of our environment. EnrichNet is an enabling technology that will provide the Quality of Service required for a crisp and clear multimedia connection. The corporate partnership with CP Clare will provide the small office, home office and home network with the same time-sensitive communications and data that today we enjoy with real-time phone service and live feed television." CP Clare's home networking initiative recognizes the increasing demand from consumers for inexpensive, easy-to-use solutions for sharing information, peripherals and Internet access See how to access the Internet. . The Company's home networking silicon products will provide an affordable, uncomplicated alternative to traditional local area network (LAN) solutions for the growing small office and home office (SOHO Soho (sōhō`, sə–), district of Westminster, London, England, known for its continental restaurants. Once a fashionable quarter, it became popular among writers and artists in the 19th cent. ) market. CP Clare plans to integrate its JackRabbit jackrabbit, popular name for several hares of W North America, characterized by very long legs and ears. Jackrabbits are powerful jumpers and fast runners. In normal progress leaps are alternated with running steps; when pursued the hare runs fast and close to the (TM) phoneline physical layer (PHY See physical layer and physical. ) products into a broad range of consumer electronic equipment including PCs, printers, analog modems, cable modems, xDSL modems, IP telephones, digital TVs, set-top boxes and home security and automation systems. Based upon licensed technology from X-Com Corporation, the JackRabbit(TM) phoneline product line will enable these types of devices to economically communicate with each other at high speeds. EnrichNet's patented software technology utilizes mathematical programming mathematical programming Application of mathematical and computer programming techniques to the construction of deterministic models, principally for business and economics. tools and adaptive learning algorithms to control the flow of data, video and voice communications across networks, eliminating packet collisions. Initial target markets include home networking, SOHO applications, the installed base of 10/100-Mbps Ethernet LANs, and wireless LANs. CP Clare joins other investors such as Andrew Viterbi, co-founder of Qualcomm and Thomas O. Hicks, chairman and CEO of Hick, Muse, Tate and Furst Incorporated. Information about CP Clare Corporation can be found at www.cpclare.com or via email at suggestions@cpclare.com. EnrichNet can be found at www.enrichnet.com or via email at info@enrichnet.com. About CP Clare Corporation CP Clare Corporation is a leader in the design and manufacture of high-voltage analog circuits. The company's products enable communications by providing the critical interface between high-voltage electrical signals and the low-voltage electronics that process those signals. Leading manufacturers of data communications, telecommunications, and industrial equipment around the world rely on CP Clare for semiconductors and specialized electronic components. CP Clare trades on the NASDAQ exchange under the symbol CPCL. Except for historical information contained herein, the matters set forth in this news release are forward-looking statements as defined under the federal securities laws. Actual results could differ materially from the information set forth herein and there is no assurance that any anticipated future results will be achieved. |
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