Clearnet announces PCS alliance with COM DEV and Research in Motion.VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 14, 1995-- Clearnet Communications Inc. ("Clearnet") Thursday announced at the TeleCon '95 telecommunications conference and trade exposition, that it has entered into a strategic alliance with COM (1) (Computer Output Microfilm) Creating microfilm or microfiche from the computer. A COM machine receives print-image output from the computer either online or via tape or disk and creates a film image of each page. DEV International Ltd. ("COM DEV") and Research in Motion Limited ("RIM") in support of Clearnet's application for a Canadian national 30 MHz (MegaHertZ) One million cycles per second. It is used to measure the transmission speed of electronic devices, including channels, buses and the computer's internal clock. A one-megahertz clock (1 MHz) means some number of bits (16, 32, 64, etc. Personal Communications Services See PCS. ("PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. ") licence in the 2 GHz range. COM DEV and RIM had previously filed an expression of interest with Industry Canada Industry Canada is the department of the Government of Canada with responsibility for regional economic development, investment, and innovation/research and development. The department employs 6104 FTEs across Canada. to apply for a PCS licence through their special-purpose joint venture called Canadian Wireless Information Network Inc. COM DEV and RIM have agreed to discontinue their joint application for a PCS licence and to formally support Clearnet's PCS application. COM DEV and RIM have actively participated in the preparation of Clearnet's comprehensive formal licence application which will be submitted tomorrow to Industry Canada. In the future, COM DEV, RIM and Clearnet will work to develop new and innovative PCS products and services to benefit all Canadians. COM DEV is a highly respected private Canadian technology company headquartered in Cambridge, Ontario
Cambridge . COM DEV has annual sales of approximately $75 million and more than 500 employees. It has earned wide recognition as an innovator and leader in advanced microwave technology for the commercial satellite communications market. COM DEV is Canada's leading exporter of commercial space equipment. It is believed that COM DEV is also the world's leading supplier of multiplexing and switching equipment for communications satellites, supplying more than half the western world's requirements. RIM is a globally recognized leader in product and service solutions for the emerging wireless computing industry. RIM is headquartered in Waterloo, Ontario Coordinates: Waterloo is a city in Ontario, Canada. It is the smallest of the three cities in the Regional Municipality of Waterloo, and is adjacent to the larger city of Kitchener. . RIM is a growing entrepreneurial high technology company which is 100 percent Canadian owned and controlled. Approximately 80 percent of RIM's staff perform research and development and approximately 90 percent of its employees have technical backgrounds in such fields as electrical and computer engineering and computer science, 15 percent at the Masters and Ph.D. levels. RIM is internationally recognized for developing innovative software solutions to meet the demanding needs of wireless data communication. In excess of 95 percent of RIM's sales are to export markets. In May, 1995, RIM received the "Outstanding Product of the Year" award from the Canadian Advanced Technology Association (CATA Cat´a 1. The Latin and English form of a Greek preposition, used as a prefix to signify This alliance evidences Clearnet's Canadian heritage and speaks to its commitment to support the development and growth of Canadian high technology companies. Clearnet expects that the alliance will create innovative wireless technologies and applications which not only will potentially benefit Canadian consumers but also will potentially lead to significant export opportunities. Wade Oosterman, Clearnet's Vice President Marketing, said "Clearnet is excited about the prospects for the strategic relationship with COM DEV and RIM. COM DEV and RIM are both leaders in their respective fields of satellite technology and wireless data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. . "In the future, satellite technology will be important for extending the benefits of terrestrial mobile radio services to previously unserved remote and rural areas, while the future potential for wireless data applications is significant. "COM DEV and RIM will bring advanced expertise and product applications in these emerging areas to Clearnet's future PCS business. We are very pleased that COM DEV and RIM share Clearnet's vision for bringing innovative PCS services to Canadians." Robert C. Simmonds, Clearnet's Chairman and Vice President, Regulatory/Technology said "COM DEV and RIM will make excellent partners for Clearnet and join an impressive list of strategic shareholders which includes Lenbrook Inc., Motorola Canada Limited and Nextel Communications Nextel Communications, styled NEXTEL, (Former NASDAQ: NXTL) which is now known as the Sprint Nextel Corporation was a telecommunications firm based in the United States. Known for providing a nation-wide mobile communications system. , Inc. The significant resources and backing of this impressive list of strategic partners bode well for Clearnet's future and its services to Canadians." "It became obvious to us that Clearnet has the credibility and substance to successfully execute its PCS business plan and product development strategies. Clearnet brings existing operating experience and financial backing and shares our view of unique services for Canadians," said Jim Balsillie James L. (Jim) Balsillie, B.Comm, MBA, LL.D, FCA was born on February 3, 1961 in Seaforth, Ontario, but raised in Peterborough, Ontario where his family relocated in 1966. He is a Chartered Accountant and co-CEO of Research In Motion. , chairman of RIM. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Val O'Donovan, 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. of COM DEV, "We are a partnership driven high technology company. Of the primary PCS licence candidates, Clearnet has the strongest similarities in attitude and orientation. Like us, they bring a mandate to research, design and implement wireless solutions on a national basis, for the benefit of all Canadians." In order to cement the strategic relationship with an economic interest, COM DEV and RIM have decided to make a total equity investment of up to $10 million in Clearnet. Pursuant to the agreement, Clearnet will issue options having an exercise price of Cdn. $20.00 for 250,000 Class A Non-voting Shares to each of COM DEV and RIM. At the time of the agreement on August 16, 1995, Clearnet's Class A Shares traded at approximately Cdn. $18.50. The options will be contingent on Clearnet PCS Inc., Clearnet's wholly owned PCS subsidiary, being awarded a 2 GHz PCS licence as announced by Industry Canada and in such event the options would have a term of 18 months commencing with such an announcement. The options may result in up to an approximate additional 1.09 million options with similar terms (as the COM DEV and RIM options) being issued to certain rightholders pursuant to their anti-dilute rights under Clearnet's shareholders' agreement shareholders' agreement n. an employment agreement among the shareholders of a small corporation permitting a shareholder to take a management position with the corporation without any claim of conflict of interest or self-dealing against the shareholder/manager. . Clearnet is a Canadian controlled wireless communications company servicing over 40 cities across Canada. Clearnet is currently building-out a new all-digital Business Communications Network ("BCN BCN Beacon BCN Blue Care Network BCN Biblioteca del Congreso Nacional (Chile) BCN Backbone Concentrator Node (routers, Nortel) BCN Banco Central de Nicaragua BCN Broadband Convergence Network ") utilizing Motorola's iDEN technology. Clearnet intends to complete full digital coverage of the Windsor through Quebec City corridor in the spring of 1996. Once completed, the Clearnet network will, for the first time in Canada Canada is divided into six time zones and ranks third among countries with respect to number of time zones, after Russia (eleven) and the United States (nine). The province of Saskatchewan has a law making daylight saving time (DST) permanent (The Time Act, 1966 - Statutes of , integrate enhanced dispatch (group calling), mobile telephone, text messaging with acknowledgment (paging) and mobile data all on one network, all accessible to users through just one handset. Clearnet plans to augment its BCN services with other innovative wireless products and applications, including PCS. Clearnet will be addressing PCS to the Canadian mass consumer market. CONTACT: Clearnet Communications Inc. Robert McFarlane, 905/831-6222 Internet - InvestorRelations@Clearnet.com INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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