Followap Inc. Announces a $2M Investment by Siemens' Mustang Ventures; Siemens' Investment Follows a Previous $10M Investment Round of Leading VCs Earlier This Year.Business Editors/High Tech Writers NEW YORK--(BUSINESS WIRE)--June 5, 2001 Followap(TM), the leading provider of Instant Messaging Exchanging text messages in real time between two or more people logged into a particular instant messaging (IM) service. Instant messaging is more interactive than e-mail because messages are sent immediately, whereas e-mail messages can be queued up in a mail server for seconds or Presence and Location (IMPL IMPL Initial Microprogram Load IMPL Implement/Implemented IMPL Interdisciplinary Materials Processing Laboratory (Cambridge University, UK) ) platforms and solutions for mobile operators, today announced a $2 million investment by Mustang Ventures, the corporate venture arm of Siemens Information and Communications. Mustang Ventures follows a previous $10M investment led by Carmel Ventures earlier this year. In parallel to this investment, Siemens Information and Communication Mobile Group (IC Mobile) has established a commercial partnership with Followap for integrating its product, iFollow(TM), into Siemens IC Mobile's existing and future mobile offering. In addition, Siemens IC Mobile plans to integrate iFollow in the strategy for its application framework for Mobile Solutions, the Open Mobile Internet Refers to gaining access to the Internet using a lightweight, handheld device. See Mobile IP, PDA, smartphone and mobile TV. Platform (OMIP OMIP Oregon Medical Insurance Pool ). Followap enables mobile operators to extend their Short Messaging Service (SMS (1) (Storage Management System) Software used to routinely back up and archive files. See HSM. (2) (Systems Management Server) Systems management software from Microsoft that runs on Windows NT Server. ) capabilities to a friendly, full-featured Mobile Instant Messaging Mobile Instant Messaging abbreviated as MIM is a presence enabled messaging service that aims to transpose the Internet desktop messaging such as ICQ or MSN experience to the usage scenario of being connected via a mobile/cellular device. (MIM MIM Metal Injection Molding MIM Mendelian Inheritance in Man MIM Mobile Instant-Messaging MIM Man in the Middle MIM Multilateral Initiative on Malaria MIM Metal-Insulator-Metal MIM Master of International Management MIM Made in Mexico ) system that will attract new subscribers and boost operator revenues. Followap offers a variety of IMPL solutions that enable mobile phone users to contact their friends and chat with each other according to personal "buddy lists" and communities, depending on the availability, presence and location of the counterpart(s). "We believe that Followap is uniquely positioned to be the leader in providing Mobile Instant Messaging solutions and become the standard for IMPL platforms," said Thorsten Heins, President of Solutions within the Information and Communication Mobile Group. "We have been impressed by the company's ability to foresee specific market needs and the speed it fulfills them with innovative technology and customized solutions." "We are confident that Siemens' support of our vision will enable us to bring our proven IMPL technology into leading carriers worldwide," said Tommy Volsen, COO of Followap. "Siemens IC Mobile has delivered a clear vote of confidence in Followap's leadership role in the Mobile Instant Messaging market place." About Siemens Information and Communication Mobile Group The Siemens Information and Communication Mobile Group (IC Mobile) offers the complete range of mobile solutions including mobile devices, infrastructure and applications. Devices include mobile phones, wireless modules, mobile organizers and cordless phones as well as products for wireless home networks. The infrastructure portfolio includes the complete range of GSM, GPRS (General Packet Radio Service) The first high-speed digital data service provided by cellular carriers that used the GSM technology. GPRS added a packet-switched channel to GSM, which uses dedicated, circuit-switched channels for voice conversations. and UMTS (Universal Mobile Telecommunications System) The GSM implementation of the 3G wireless phone system. Part of IMT-2000, UMTS provides service in the 2 GHz band and offers global roaming and personalized features. mobile network technologies from base stations and switching systems to intelligent networks, e.g. for prepaid services. Applications cover mobile services for Unified Messaging, Location Based Services, and Mobile Payment. For the fiscal year 2000 (which ended September 30, 2000), IC Mobile recorded sales of EUR EUR In currencies, this is the abbreviation for the Euro. 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. 9 billion and EBIT EBIT See: Earnings Before Interest and Taxes EBIT See earnings before interest and taxes (EBIT). of EUR 758 million. The group employs 29,840 employees worldwide (March 31, 2001). You can access further information about Siemens IC Mobile on the Internet at http://www.siemens.de/mobile. About Followap Followap(TM) is the leading provider of Instant Messaging Presence and Location (IMPL) platforms and solutions for mobile operators. Its flagship platform, iFollow(TM), has become the world's first commercially installed IMPL platform in December 2000, when it was launched by Eircell, Ireland's leading mobile operator. Additional commercial launches of iFollow at the world's leading mobile operators are expected in the coming months. Followap is committed to enable mobile operators to offer advanced, revenue-generating messaging and community-based services by continuously introducing innovative telecom-grade messaging products. Followap offers full customization and integration services to address the specific requirements of its customers and provides extensive technical support and consulting services. For more information visit our Web site at http://www.followap.com. |
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