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Telecom News: Contec Provides China Business Development Update2 December 2005
Contec Innovations (TSX VENTURE:BUZ - News), a provider of mobile Internet infrastructure software, would like to provide an update on its activities in China.
As reported earlier, Beijing-based King CenturyTone Technology ("KCTone") purchased, in a deal valued at approximately C$400,000, two entry-level Hornet systems targeted for deployment in two provinces of a major Chinese mobile operator. Contec is pleased to announce that the first Hornet system has been successfully installed and tested with the first provincial operator in China. This has triggered initial milestone payments, which have been received by Contec. With commercial launch of the first system, expected before the end of this year, additional payments will be due and the implementation of the second system will be triggered.
KCTone will use Hornet, Contec's powerful and flexible mobile service delivery platform, to host and deliver an operator-branded portal offering to the network operator's provincial subscriber base. Contec's agreement with KCTone provides an opportunity for additional systems, beyond the initial two, to be purchased and deployed in other provinces in China.
Hornet Trial with Strategic Partner of Major Chinese Mobile Operator
On September 28, 2005, Contec announced that it is trialing Hornet with a strategic partner of a major Chinese mobile operator. The initial phase of this trial has now been completed successfully and subsequent commercial discussions are underway, however, there can be no assurances in the completion of a business arrangement.
"A larger opportunity is emerging for Contec as the Chinese mobile operators look to manage and control the services and revenue stream generated by the more than 10,000 companies licensed to provide telecom value-added services in China," commented Don Lay, Contec CEO.
Contec to set up Chinese Subsidiary
The Contec board has recently approved the incorporation of a Chinese subsidiary to facilitate the increase in business development and customer services activities in the China market. The creation of a wholly-owned subsidiary in China will allow Contec to provide increased support for customers of its Hornet technology. The Chinese mobile market is the world's largest and fastest growing, now serving over 380 million subscribers and anticipated to grow to over 600 million by 2010. Contec's Hornet delivers a flexible and scalable application hosting solution that meets the Chinese mobile operators' requirements to quickly develop and rollout branded services and manage thousands of third party value added service providers. For more information on this vast and growing market, go to www.contec.ca/asiafocus-whychina.
ON BEHALF OF THE BOARD OF DIRECTORS OF CONTEC INNOVATIONS
Don Lay, CEO
About Contec Innovations
Contec accelerates the growth of the mobile Internet by enabling mobile service providers to capitalize on new data services. Contec's core product, the Hornet(TM), is an open, carrier-class mobile services delivery platform capable of hosting multiple mobile applications in a secure, scalable environment allowing service providers to generate new revenues by efficiently deploying reliable and compelling data applications. Founded in 1999 and headquartered in Vancouver, Canada, Contec is listed on the TSX Venture Exchange under the symbol "BUZ". For more information, visit www.contec.ca.
The statement made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations. Hornet(TM) is a trademark of Contec Innovations Inc.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of the content of the information contained herein.
Contact:
Brian Buckley
Contec Innovations Inc.
Investor Relations
(604) 468-5638 or 1-888-552-0360
brian.buckley@contec.ca
Asa Zanatta
Contec Innovations Inc.
Media Relations
(604) 408-1389
azanatta@spiritcommunications.ca
www.contec.ca
--------------------------------------------------------------------------------
Source: Contec Innovations Inc.
Source: CCNMatthews
All trademarks and copyrighted information contained herein are the property of their respective owners.
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