Leapfrog Smart Products, Inc. Announces Historic Joint Venture with Chinese High-Tech Consortium TopGroup.Business Editors and High-Tech Writers ORLANDO, Fla.--(BUSINESS WIRE)--March 6, 2000 Leapfrog retained as exclusive provider of smart card products for Chinese `Golden Card' project; Revenues to Leapfrog expected to exceed $200 million; Project targets China's adult population, which exceeds 850 million citizens Leapfrog Smart Products, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FROG), a recognized leader and innovator of smart card solutions, announced today that it has signed a significant joint venture agreement with TopGroup of the Peoples Republic of China. The agreement signifies the eagerness between the two companies to provide smart card driven products to a booming Asian market, which is estimated to exceed $1 billion US dollars over the next two years. This joint venture provides for the construction of the largest IT research and development center in China, to be located at the West Software Park in Chengdu, Sichuan Province. TopGroup selected Leapfrog as its exclusive developer of smart card applications and biometrics identification products for the Golden Card Projects mandated by the Chinese government Ever since Republic of China founded in January 1st, 1912, China has had several regional and national governments. List
"Our joint venture is targeting China's adult population, which exceeds 850 million citizens," says Gary Wolfson, President of Leapfrog Global I.C. Products (LGIC LGIC Ligand Gated Ion Channels (cell signalling) LGIC Line Group ISDN Controller ). "Initially, we will supply products for public security, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and healthcare and plan to work toward producing subsequent smart card solutions for access control, transportation and distance learning." Leapfrog employs core software products which are customized to create innovative smart card solutions for clients in a broad range of government and business activities, such as buildings and campuses, resorts, health care, distance learning, public transportation and computer security markets. The solutions developed by Leapfrog are designed to protect and enhance business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets , generate new revenue streams and in some cases save lives. Mr. James Valenti, President of Leapfrog's Chinese subsidiary, will relocate to Asia to oversee the Company's operations. "This new cooperation between Leapfrog and TopGroup should become the leading model in the Chengdu's IT Development and in absorbing more future foreign investments," said Mr. Wu Xian Wu Xian may refer to:
About TopGroup TopGroup is a renowned, privately owned high-tech company with 10 facilities countrywide and over 3,000 employees throughout China. TopGroup manufactures personal computers, computer software and other computer peripherals. About Leapfrog Smart Products, Inc. Headquartered in Orlando, Florida The city of Orlando is a major city in central Florida and is the county seat of Orange County, Florida. According to the 2000 census, the city population was 185,951. A 2006 U.S. , Leapfrog Smart Products, Inc. (www.leapfrog-smart.com) is dedicated to designing, developing, licensing and marketing Smart card applications, related database management systems and services. Leapfrog is complemented by its wholly owned subsidiaries 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. , Conduit Healthcare Solutions and Leapfrog Global IC Products (LGIC). 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 provides a "safe-harbor" for forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Certain information included in this press release (as well as information included in oral statements or other written statements made by or to be made by the Company) contains statements that are forward-looking, such as statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc plans for future expansion. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future; and accordingly, such results may differ from those expressed in any forward-looking statement made by or on behalf of the Company. For more information, review the Company's filings with the Securities and Exchange Commission. For more information about Leapfrog Smart Products and this agreement contact Gary Wolfson or Jim Valenti at (407) 875-3100. |
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