Microforum Acquires Proprietary Wireless XML-based Technology
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[Toronto, CANADA] - Microforum Inc. has acquired certain assets from Bellevue, WA based flashCast Communications Corp. including CEPort, a proprietary XML-based mobile content technology. The CEPort technology allows Web content to be made available to multiple devices including palm PCs, Web TV boxes and wireless equipment such as Web-enabled phones and hand-held devices.
The purchase price of the CEPort technology was funded by a combination of cash and by the issuance of common shares in the capital of the company.
"This is a critical acquisition for us as it extends the end use placement opportunities for our iFrontECS and CALMS applications and delivers on the promise of e-business anywhere. While we do not see ourselves as a wireless company, it was critical for us to be able to acquire the expertise and technical depth in the mobile application environment in order to deliver a comprehensive solution without being dependent on third party providers. We are excited about the strategic importance of acquiring the CEPort technology and welcome Paul Scholz to spearhead the execution of our mobile applications development strategy in Microforum's Seattle area office," stated Mr. Howard A. Pearl, president and chief executive officer of Microforum.
IGI Consulting Group expects wireless Internet access devices to reach 830 million by 2005. By 2003, furthermore, more people will be accessing the Internet by mobile phones than by PCs.