724 Solutions partners with ZTE for the China Market
China's largest telecommunications manufacturer integrates X-treme Mobility Gateway for the world's largest wireless market
New Orleans and Toronto, ON, (March 17, 2003) - 724 Solutions (NASDAQ: SVNX; TSX: SVN), a leading provider of next-generation IP-based network and data services, announced today that it has signed an OEM agreement with ZTE Corporation, China's largest telecommunications manufacturer, to be a preferred distributor of the X-treme Mobility Gateway (XMG).
This agreement will enable ZTE to integrate and sell 724 Solutions X-treme Mobility Gateway in many of the world's fastest growing wireless markets, including China, India and Brazil.
ZTE Corporation is China's largest listed telecommunications equipment manufacturer and recently was ranked first in the TOP 10 Telecom Manufacturers by Communications Weekly, a well-known telecom newspaper under the Ministry of Information Industry. ZTE specializes in providing customized network solutions for telecom carriers worldwide. The company develops and manufactures telecommunications equipment for fixed, mobile, data and optical networks, intelligent networks and next generation networks.
"724 Solutions has the highest levels of reliability and scalability" said Ms. Lijian, Director, CDMA Research and Development Centre, ZTE. "The architecture of XMG easily serves massive volumes of transactions and ZTE will integrate it in large scale CDMA markets".
"We are pleased to partner with 724 Solutions", said Dr. Pang, Vice President, CDMA Division, ZTE. "Their innovative technology will complete the end-to-end CDMA solution offered by ZTE in the world's fastest growing markets".
"Our partnership with ZTE further demonstrates our commitment to extend the reach of our superior technology", said John Sims, chief executive officer, 724 Solutions. "The combination of ZTE's global reach into leading wireless carriers and 724's industry leading WAP 2.0 mobile access gateway, will propel the market towards more robust data services offerings."
The X-treme Mobility Gateway provides a flexible, standards-based infrastructure with linear scalability that supports every major carrier data standard, including WAP 2.0.
About 724 Solutions Inc.
724 Solutions Inc. (NASDAQ: SVNX; TSX: SVN) delivers reliable, scalable technology and solutions that allow mobile network operators to rapidly deploy flexible and open next-generation IP-based network and data services. Additionally, the company provides a series of actionable alerting solutions to financial institutions to assist them in lowering operating costs and improving customer satisfaction and retention. 724 Solutions is a global company with development operations in North America, Switzerland and Germany, with headquarters in Toronto, Canada. For more information, visit www.724.com.
About ZTE Corporation
ZTE is committed to the telecommunications industry, and will continue to develop and expand its global operations to ensure that partners everywhere will have the most effective solutions. ZTE has 13 wholly owned R&D centers worldwide. Today, ZTE has become an important global player in the telecommunications industry with products deployed in over 40 countries and regions. For more information, visit www.zte.com.cn.
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
