STM Wireless announces joint venture in India; new venture to offer nationwide bandwidth on demand services.IRVINE, Calif.--(BUSINESS WIRE)--Sept. 11, 1995--STM WIRELESS, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (STM (Scanning Tunneling Microscope) A microscope that can image down to the atomic level. An STM uses a piezoelectric tube with a tiny sharp tip at the end that is moved within nanometers of the object being sampled. ), (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 NM Symbol: STMI STMI Synchronous Transport Module I (also seen as STM-I) STMI Spectro-Temporal Modulation Index STMI Statute Mile STMI Single Table with Multiple Index Access ), announced a joint venture has been formed in India with Himachal Futuristic Communications Limited (HFCL HFCL Himachal Futuristic Communications Limited ). The joint venture is called HFCL Satellite Management Limited (HSML) and is based in New Delhi. The first offering of HSML will be a nationwide bandwidth on demand service based on STM's DAMA 10000 product. The joint venture partners are Wireless Telecom Limited and HFCL. Wireless Telecom, which is owned by STM and Berjaya, was formed with the specific aim of providing services in the Asia Pacific region. HFCL is a very rapidly growing Indian telecommunications company. It is anticipating further growth due to the increasing deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. of the Indian telecommunications market. HFCL was recently the winning bidder in nine out of 21 "circles" (or areas) for the offering of basic telecommunication services throughout India. These nine circles encompass some of the highest population areas of India, including the capital, New Delhi. Formal award of licenses will be after bid evaluation by the Department of Telecommunications. Commenting on the joint venture, Dr. Deepak Malhotra, Managing Director of HFCL, stated, "We are extremely excited with the opportunity to work in a joint venture with a dynamic company like STM which is at the cutting edge of satellite communication technology. HSML will pioneer DAMA service in India." Emil Youssefzadeh, 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. of STM WIRELESS added, "We are delighted in our relation with HFCL. They are a very exciting company with an extremely good track record in the telecommunications business. This joint venture is exactly the sort of opportunity that Wireless Telecom was formed to exploit. Our aim is to expand our basic business by becoming active in international telecommunications service offerings and this agreement with Himachal is the type we hope to duplicate in other areas of the Asia Pacific region. This venture allows us to be both the technology supplier and to participate in the ongoing service revenues. HSML will also be a potential user of products from our recently formed Cellular Division and Telecom Multimedia (TMSI TMSI Temporary Mobile Subscriber Identity (Identifier) TMSI Tropical Marine Science Institute (Singapore) TMSI Temporary Mobile Station Identity TMSI The Mortgage Source Inc ) subsidiary." STM Wireless, Inc., headquartered in Irvine, California, is a leading manufacturer of wireless communications products, including very small aperture terminals (VSATs), transceivers, modems and other networking equipment. STM products are designed to support data, fax, voice and video networks requiring cost-effective connections. The Company's proprietary equipment and software are installed in North America, Latin America, Europe and the Asia/Pacific. Information contained herein was obtained by Lippert/Heilshorn & Associate, Inc. (LHA A popular freeware compression program developed by Haruyasu Yoshizaki that uses a variant of the LZW (LZ77) dictionary method followed by a Huffman coding stage. It runs on PCs, Unix and other platforms as its source code is also free. ) from STM WIRELESS, INC. and other sources deemed reliable by LHA. LHA is employed by STM WIRELESS, INC. as its investor relations firm. This information is not a solicitation of the purchase or sale of securities. CONTACT: STM Wireless Inc. Frank T.Connors, 714/753-7864 or Lippert/Heilshorn & Assoc. Keith Lippert or Richard Foote, 212/838-3777 |
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