724 Solutions Announces OEM License with China-based Aspire Technologies (ShenZhen) Ltd for Multi-Channel Portal Services in China
Toronto, ON, and Austin, TX (October 25, 2001) - 724 Solutions Inc. announced today that Aspire Technologies (ShenZhen) Ltd, China, has licensed its 724 FrameWorks solution. The solution will be used by Aspire in its Mobile Information Service Center (MISC) offering to mobile operators in China, allowing them to offer a multi-channel portal service providing easy access information on the latest in news, weather, sports, and entertainment, as well as more specialized content, such as financial stock quotes, and e-mail services.
The 724 FrameWorks will be used by Aspire for its customers to carry out user authentication, protocol translation, portal navigation, and data roaming capabilities.
"The work we've done with Aspire represents a great in-road into the Chinese market for 724 Solutions," said John Sims, Chief Executive Officer, 724 Solutions. "Both 724 Solutions and Aspire recognize that when deploying services in mobile operator environments where you have almost immediate access to a large subscriber base, the first thought has to be on scalability and reliability. It is also critical that the platform provides a flexible development environment and open interfaces that will allow Aspire to quickly roll out services and applications to the market.
"For 724 Solutions, Aspire is a great customer with which to launch our move into the mobile operator market because of the forethought and leadership it has shown in the Chinese market," said Sims. "724 Solutions has always maintained that in certain geographies, mobile operators will lead the way due to their pervasive exposure and access to customers. We believe that the future of multi-channel transactions lies not only with financial institutions, but also in working with mobile operators to bring the best services to consumers."
For more information on Aspire, visit http://www.aspire-tech.com.
About 724 Solutions Inc.
724 Solutions Inc. (NASDAQ: SVNX; TSE: SVN) is a leading provider of mobile Internet infrastructure software and applications. It makes m-business happen globally by powering the delivery of secure mobile transactions for financial institutions and mobile operators. With dual headquarters in Toronto, Canada, and Austin, Texas, the company has development and sales offices around the world. For more information visit www.724.com.
This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements include the statements herein regarding: the services and products that will be offered by 724 Solutions and network operators, the benefits that mobile operators will obtain from these services and products the ability of 724 Solutions to expand into China and the mobile operator market, the role that the mobile operators will play in the future of m-commerce transactions, and future demand for these services and products. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including the risk that 724 Solutions and/or Aspire will be unable to deploy the solutions and products stated herein, the risk that the demand for the solutions and products will not increase as presently anticipated and the risk that mobile investors may not invest in developing wireless transaction services as anticipated, the risks arising from conducting our operations in a variety of international locations other risks described in 724 Solutions' SEC filings, including its annual report on Form 10-K. These risks are also described in 724 Solutions' filings with the Canadian Securities Administrators, including its prospectuses, material change reports, Annual Information Form and Management Information Circular. 724 Solutions does not undertake any obligation to update this forward-looking information, except as required under applicable law.
For more information, contact:
Avichai Levy, VP Marketing Mobixell Networks
Tel: +972 544 666 785
Avichai.levy@mobixell.com
Kirsten Scott and Kim Smith, éclat Marketing
Tel: +44 (0)1276 486000
mobixell@eclat.co.uk
