Cellular Technical Services Comments on Proposed Acquisition of KSI, Inc. by TruePosition, Inc.Business Editors, Telecommunications Writers SEATTLE--(BUSINESS WIRE)--Feb. 28, 2000 Cellular Technical Services Company, Inc. (Nasdaq:CTSC CTSC Cathepsin CTSC Clinical and Translational Science Center (University of California at Davis) CTSC Chenega Technology Services Corporation CTSC Canadian Technical Security Conference (Burlington, ON, Canada) ) ("CTS (1) (Clear To Send) The RS-232 signal sent from the receiving station to the transmitting station that indicates it is ready to accept data. Contrast with RTS. (2) (Common Type System) The data typing used in . "), a leading provider of products and services for the tele-communications industry, commented today on the announcement of the proposed acquisition of KSI KSI Killed or Seriously Injured (UK road safety statisitcs) KSI Knattspyrnusamband Íslands (football association of Iceland) KSI Kips Per Square Inch (engineering) , Inc. ("KSI") by TruePosition, Inc., a wholly-owned subsidiary of Liberty Media (NYSE NYSE See: New York Stock Exchange :LMG LMG Light Machine Gun LMG Laurence M. Gould (Antarctic Research Support Vessel, USAP) LMG Local Marketing Group LMG Loaf's Merry Guild LMG Laboratory Molecular Genetics LMG Liquid Methane Gas .A) (NYSE:LMG.B), in a stock acquisition of the company. "In November," Stephen Katz
Stephen Katz (1946 in New York City – 18 October, 2005 in Plano, Texas) was an American teacher and screenwriter. , CTS Chairman 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. stated, "we announced our entry into the geo-location market and our strategy to develop application-specific products and services that can be deployed with all major geo-location technologies. In fact, we are currently in the process of readying our first commercial application for field trials, which we expect to commence by the end of the year." "Concurrently, we formed a strategic alliance with, and took an approximate 6.5% stake in, KSI, a pioneer in wireless location technologies. The combination of TruePosition and KSI should not only enhance the return on our initial investment in KSI but also align CTS with one of the premiere providers of wireless location technology and services," Katz added. CTS provides real-time information processing and management solutions for the telecommunications industry. Over the past 11 years, CTS has used its extensive experience with real-time wireless call processing to create technologically advanced solutions for this industry, including integrated solutions for fraud management. Today, CTS is building a more diversified, vertically structured organization with a focus on providing a wide range of products and services. Special Note Regarding Forward-Looking Statements: This press release may contain forward-looking statements within the meaning of 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 that involve risks and uncertainties that could cause actual results for CTS or its affiliates to differ materially from those expressed or implied in the applicable statements. These risks and uncertainties include but are not limited to: its dependence on analog cellular networks for certain products and services; its vulnerability to rapid industry change and technological obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. ; its limited customer base and reliance on a relatively small number of customers and customer contracts; its dependence on a limited number of existing products and services; uncertainty of continued demand for and market penetration of its existing products and services under existing and future contracts; uncertainty in its ability to timely develop, introduce and gain acceptance of new products and services; uncertainty of the demand for and market penetration of new products and services; the possible impact of competitive products and pricing; the risk that its current and future products may contain errors or be affected by technical problems that would be difficult and costly to detect and correct; manufacturing difficulties, including reliance on a limited number of outside vendors for key components and processes; potential difficulties in managing changing business conditions; dependence on key personnel; the availability of financing; and other risks described in CTS' filings with the Securities and Exchange Commission. |
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