Madge Networks N.V. (NASDAQ NM: MADGF), a global network solutions provider, today announced the formation of Red-M, a subsidiary company that will bring the power of mobile data, voice and video communications into the work environment.
Red-M will provide reliable and secure Internet and Intranet access from a wide range of mobile devices including PCs, mobile phones, personal digital assistants (PDAs), Wireless Application Protocol (WAP) smart phones and other emerging information appliances, by developing a range of wireless Internet server products based on Bluetooth technology.
Bluetooth is set to become the universal short-range wireless standard for personal devices. Backed by over 1,800 of the world`s leading companies, shipments of Bluetooth enabled devices are forecast to reach 1.7bn units by 2005 according to Merrill-Lynch. Red-M is poised to take advantage of this growth by delivering to market powerful Internet access solutions that bring full mobility into the workplace of the future.
"The formation of Red-M is another significant step in the ongoing evolution of Madge Networks," said Robert Madge, chairman of Madge Networks N.V. "There is tremendous potential in the high-growth, mobile Internet and m-commerce arena. With its strong, focused management team and dedicated development engineers, Red-M is well placed to take advantage of this opportunity by continuing the Madge tradition of providing innovative customer-driven networking solutions."
Red-M is an internal start-up of Madge Networks N.V., which has been nurtured up to now within the company` s Madge.connect subsidiary. Red-M currently has more than 40 employees, led by CEO Mike Wilson. Other members of the management team include Simon Gawne, VP Marketing and Business Development, and Clive Mayne, VP of R&D and Product Management.
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Madge Networks N.V.
Founded in 1986, Madge Networks N.V. (NASDAQ NM: MADGF) is a global managed network services and product solutions provider specializing in mission-critical enterprise needs. The company`s goal is to optimize the implementation of enterprises, voice, video and data networks with the ultimate aim of converging all networking needs on Internet Protocol (IP) solutions. The company`s main business centers are at Wexham Springs, United Kingdom, New York City and Dallas, Texas. Madge Networks N.V., a company organized under the laws of the Netherlands, is the parent company of Madge.web Holdings B.V. and Madge.connect Holdings B.V. Information about Madge`s complete range of products and services can be accessed on the World Wide Web at www.madge.com
Red-M
Founded in 2000, Red-M is a subsidiary of Madge Networks N.V. The company is a pioneer of mobile commerce solutions that allow the wireless integration of data, voice and video communications in the work environment, delivering reliable and secure access to Internet, Intranet and business critical applications from a wide range of mobile devices. Information on Red-M can be found on the World Wide Web at www.red-m.com.
Private Securities Litigation Reform Act Statement
Investors should take note that certain statements in this press release are forward-looking and may not give full weight to all of the potential risks (e.g., ability to deliver new marketable solutions quickly to bring products to market before our competitors, changing technologies, management of change and changed resource allocation resulting from these and other factors). Forward-looking statements in this press release include Red-M`s ability to bring the power of mobile data, voice and video communications into the work environment, that Red-M will provide reliable and secure Internet and Intranet access from a wide range of mobile devices, that Bluetooth is set to become the universal short-range wireless standard for personal devices, the forecast shipment of Bluetooth enabled devices, that Red-M is poised to take advantage of the predicted growth in this market, the potential in the high-growth, mobile Internet and m-commerce arenas, and other statements which are not completely historical. These statements may differ materially from actual future actions, events or results. For more information on risks, please refer to Madge`s recent SEC filings.
Madge, the Madge logo, Madge.connect, Madge.web, Red-M and the Red-M logo are trademarks, and in some jurisdictions may be registered trademarks of Madge Networks or its affiliated companies. Other trademarks appearing in this release are the property of their respective owners.