Norsat To Expand Broadband Satellite Ground Station Capabilities With SpectraWorks Acquisition.Business EditorsBURNABY, B.C.--(BUSINESS WIRE)--Feb. 29, 2000 Norsat International Inc. (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 :NSATF)(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :NII (National Information Infrastructure) The U.S. government's policy for managing advanced technology in the country. The Clinton/Gore administration (1993-2001) was very enthusiastic about the Internet and proposed that it should be funded by private industry and be .), today announced the signing of an agreement to acquire, subject to regulatory approval, privately-held SpectraWorks, Inc., a leading developer of systems and software for the broadcasting of multimedia broadband content across satellite, terrestrial wireless and digital cable networks. Terms of the transaction will be disclosed upon signing of the definitive agreement. SpectraWorks' core multimedia information system consists of integrated proprietary hardware and software technologies, including a high-speed content stream generator and complete network management system. The system is based on an open standards Digital Video Broadcasting (DVB (Digital Video Broadcasting) An international digital television (DTV) standard that is the European and Far Eastern counterpart of the North American ATSC standard. ) Data Hub platform and is scaleable to meet a range of Internet Protocol (I/P I/P Input I/P Initiative/Program I/P Identification of Position I/P Current to Pneumatic Transducer ) network applications. The system also features a proprietary, advanced subscriber management system which allows broadcasters to offer pricing structures based on bandwidth usage measured in units as small as a single byte. This feature, as well as others, may also be offered separately as a standalone system to operators of satellite and other wireless and terrestrial systems. Robert H. Bucher, Norsat's 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. , commented, "The acquisition of SpectraWorks will be a major step forward for Norsat, significantly broadening the range of solutions we can provide for multimedia Internet and private Internet-based data networks. With SpectraWorks, we will add uplink broadcast 'transport' products to our terminal 'access' products, which include the Ka-band outdoor units (ODUs) we are developing for the new ASTRA-NET and KoreaSAT satellite broadband multimedia networks." Existing installations of SpectraWorks' products are a result of direct sales and an ongoing distribution agreement between SpectraWorks and Scientific Atlanta. SpectraWorks DVB data broadcast systems are currently installed in North America, Asia, Africa and Europe. SpectraWorks' President and CEO, Dr. Moe Barakat, is a member of Norsat's board of directors. Gordon M. Deans, Norsat's Vice President for Satellite Solutions, said, "The two firms mutually reinforce each others' strengths. SpectraWorks brings an outstanding group of multimedia networking products which will enable Norsat to provide total turn-key satellite-based solutions. In turn, SpectraWorks' products will benefit from Norsat's international distribution network, loyal customer base in the satellite industry, and complementary technology." Norsat International Inc. designs, engineers and distributes premium products for use in the satellite wireless communications industry. It has four principal operating units. Norsat Satellite Products is a leading supplier of satellite signal receivers, transmitters, and other ground station equipment. Norsat Satellite Solutions supplies interactive user terminals to the satellite broadband I/P market. Norsat Narrowband Networks specializes in voice and data products and services for the Globalstar satellite constellation. The Company's Norsat America Inc. subsidiary operates a network of 14 branch offices across the U.S. and is a distributor of DIRECTV(r) satellite service to the direct-to-home (DTH (Direct-To-Home) Typically refers to satellite TV broadcasting directly to a dish antenna on the roof of a house. See DBS. ) market and a DIRECTV(r) Master System Operator (MSO (1) (Multiple System Operator) Typically refers to a cable TV organization that owns more than one cable system, but it may refer to an operator of only one system. ) for the multiple dwelling unit (MDU (1) (Multiple Dwelling Unit) A commercial or residential building with multiple offices or apartments. See BLEC. (2) (Multiply-Divide Unit) A high-speed circuit that performs multiplication and division within the CPU. ) market. Norsat America also distributes DirecPC. SpectraWorks, Inc. is a provider of wireless broadband multimedia networks serving the commercial and consumer markets. The company specializes in hybrid satellite-terrestrial wireless technology development and its application to telecommunications networking solutions. Innovative solutions have been engineered for wireless networks over satellite, MDS MDS, n See temporomandibular pain-dysfunction syndrome. MDS 1 Maternal deprivation syndrome, see there 2 Myelodysplastic syndrome, see there and LMDS (Local Multipoint Distribution Service) A digital wireless transmission system that works in the 28 GHz range in the U.S. and 24-40 GHz overseas. It requires line of sight between transmitter and receiving antenna, which can be from one to four miles apart system technologies based on the MPEG (Moving Pictures Experts Group) An ISO/ITU standard for compressing digital video. Pronounced "em-peg," it is the universal standard for digital terrestrial, cable and satellite TV, DVDs and digital video recorders (DVRs). 2, DVB and ATM international standards. SpectraWorks' head office is located in Winnipeg, Canada. This document may contain certain forward-looking information and statements concerning the Company's operations, performance and financial condition, including, in particular, the likelihood of the Company's success in developing and expanding its business. These statements are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. |
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