724 Solutions Named to Computerworld's Top 100 Emerging Companies for 2002
Company recognized for its contributions to the information technology (IT) industry
Toronto, ON, and Austin, TX (November 26, 2001) - 724 Solutions has been chosen as one of the Top 100 Emerging Companies for 2002 by U.S.-based Computerworld, a highly influential publication for IT leaders. With a circulation of 250,000 and a total audience of 1.6 million, Computerworld selected 724 Solutions because of its significant, innovative contribution to the IT industry and corporate computing, and deemed 724 Solutions a company worth watching in the coming year.
"In selecting the Computerworld Top 100 emerging companies for 2002, the editors and panel members emphasized innovation," said Maryfran Johnson, editor in chief of Computerworld. "These companies are creating products or services that present a new and creative approach to an IT issue, while demonstrating that they have the foundation, vision, and strategy to succeed in the years ahead."
To qualify for the list, companies had to be corporate-focused, for-profit ventures founded no earlier than 1996. In addition, companies had to have revenues less than $250 million and an innovative product or service, along with customer references. A team of Computerworld editors reviewed the nominations and selected finalists. A panel of information technology industry influencers - senior-level executives who are both providers and users of IT - then made the final choices.
724 Solutions was selected based on the following criteria:
- 724 Solutions and its technology offer demonstrable value to corporate IT operations; the product or service addresses problems or challenges that IT managers face.
- 724 Solutions is innovative; the product or service presents a new and creative approach to an IT issue and competes in a relatively new or emerging market; the product or service is viable.
- 724 Solutions demonstrates positive signs of an ability to execute its strategy (revenue, revenue growth, funding, and stable management team).
"724 Solutions has been dedicated to developing and enhancing our technology, creating unique and easily implemented solutions to the wireless market," said John Sims, Chief Executive Officer, 724 Solutions. "Being recognized by Computerworld as one of the Top 100 emerging companies for 2002 demonstrates not only our expertise in our market, but our ability to continually deliver solutions that address the needs of our customers."
This latest award brings 724 Solutions' award recognition tally to nine this year. Others that have been awarded include: KPMG; Ernst & Young; Profit Guide; Computerworld ROI; Canadian Information Processing Society; Unstrung 25; CrossRoads 2001 A-List; and 50 Local Businesses to Watch (Austin).
A complete list of Computerworld Top 100 Emerging companies for 2002 is available in the November 26 print issue, and at www.computerworld.com.
About the Computerworld Top 100 Emerging Companies Award
Organizations ultimately selected as Computerworld Top 100 Emerging Companies for 2002 are those companies that are making significant, innovative contributions to the IT industry and corporate computing and are worth watching in the year ahead.
About Computerworld
Based in Framingham, Mass., Computerworld, Inc. is a complete information services company for the IT Leader community, providing print and online publications, books, conferences and research services. The company's flagship weekly newspaper for IT Leaders has been recognized numerous times by Folio: Magazine and the Computer Press Association as the best computer newspaper. With a circulation of 250,000, Computerworld has a total audience of 1,694,000, according to IntelliQuest CIMS v.8.0. News and resources for the IT Leader community are available at www.computerworld.com.
Computerworld is a business unit of IDG, the world's leading technology media, research and event company. IDG publishes more than 300 magazines and newspapers and offers online users the largest network of technology-specific sites around the world through IDG.net (www.idg.net), which comprises more than 300 targeted Web sites in 70 countries. IDG is also a leading producer of 168 computer-related events worldwide, and provides IT market analysis through 51 offices in 43 countries worldwide. Company information is available at www.idg.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
