Prosper Abitbol Elected Chairman and CEO of Yellowave Corp.; Eric Benhamou, Chairman and CEO of 3Com Corp., Is Chairman of Advisory Board.Business Editors & Technology Writers LOS ANGELES--(BUSINESS WIRE)--July 17, 2000 Shareholders Approve Acqusitions of YOOPYAH, ICom4U, FREE and NewS@t Yellowave Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :YWAV) today announced that Prosper Abitbol has been elected Chairman and Chief Executive Officer. Eric Benhamou, Chairman, 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. and President of 3Com Corp., (Nasdaq:COMS COMS 3Com Corporation (stock symbol) COMS Certified Orientation and Mobility Specialist COMS Continuous Opacity Monitoring Systems COMS City of Manchester Stadium (UK) ), a major shareholder in Yellowave, has agreed to serve as Chairman of the company's Board of Advisors. Also elected to the Board of Directors was Jacques Ben Ezra Ben Ezra: see Ibn Ezra, Abraham ben Meir. , a former Vice President of Koor Industries, a leading Israeli technology investment company with holdings in telecommunications and export companies. Ron Oren, the architect of Yellowave's emergence as a technology incubator, formerly Chairman of the Board, will continue as a Senior Consultant focusing on acquisitions. Laura Ballegeer, formerly the company's CEO, will continue as a member of the Board of Directors and will serve as Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . The company also announced that shareholders and its board of directors approved the acquisition of four entities from an Israeli technology-development group led by Abitbol and Benhamou: FREE, a Webcasting platform; YOOPYAH, an advanced set-top box The cable TV box that sits on "top" of the TV "set," although it is often located several feet away in an equipment rack. The set-top box descrambles the premium channels and provides a tuner for the higher cable numbers that very old TVs did not support. that integrates TV and Web programming, multimedia and digital video recording; ICom4U, which has developed highly effective video compression techniques; and a 55 percent interest in NewS@t, a leading Israeli provider of digital satellite television programming. Abitbol last year was named as one of the 50 most influential members of the Israeli communications industry. Yellowave is an incubator of high-tech companies, with a special focus on assisting the development of wireless and telecommunications companies emerging from the very active science and technology community in Israel. Yellowave is currently in advanced negotiations with several other Israeli companies. This news release contains 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. The company's actual results could differ materially from those anticipated in such forward-looking statements. |
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