ITOCHU TECHNO-SCIENCE to Bring MobileWare Solutions to Japan
PLANO, TX – Dec. 11, 1996 – ITOCHU TECHNO-SCIENCE Corporation, Ltd. (CTC), a leading solutions provider in Japan of advanced computer systems and application software, and MobileWare Corporation, the technology leader in remote access networking solutions, today announced an investment by CTC and the signing of a master distribution agreement under which CTC has exclusive rights in Japan to distribute MobileWare Corporation’s products for the next five years.
In addition, MobileWare Corporation announced the proposed sale of Series B preferred stock to ITOCHU Corporation and related entities. In December 1995, Informix Software, Inc. and MobileWare Corporation’s venture capital investors purchased $3.5 million of Series B preferred stock. Mirus Capital Advisors (fka Ross Crossland Weston) advised MobileWare on the transaction.
“CTC is pleased to be introducing the first reliable, cost- effective solution for wireless data networking in Japan,” said CTC President Hiro Satake. “MobileWare Corporation’s products and technology are an important addition to the total system solutions that CTC offers its customers.”
“We are excited to be working with such a vital industry leader as CTC to establish MobileWare s products as the global solution for wireless data communications,” said Jack Blount, president and CEO of MobileWare Corporation. “Mr. Satake is a highly respected industry visionary who brought Sun Microsystems and Compaq Computer to Japan, and we are pleased that he has selected MobileWare as his next technology partner in Japan.”
MobileWare Corporation recently hosted delegates from the Japan Electronic Industry Development Association (JEIDA), who were visiting the Dallas area to learn more about MobileWare’s new WebMirrord Communications Server product, see product demonstrations, and tour MobileWare headquarters.
“I was impressed by what I saw on our visit to MobileWare, and I am looking forward to helping establish the WebMirror technology as one of the standards for wireless Internet access and e-mail,” said Masahiro Hataguchi, chief of the JEIDA delegation. “After WebMirror’s successful introduction in Japan, our next goal will be to establish MobileWare products as the mobile computing standard worldwide.”
About ITOCHU TECHNO-SCIENCE Corporation
CTC, formerly known as C.Itoh Techno-science Co., Ltd., was established in 1972 as the information technology arm for ITOCHU Corporation. ITOCHU Corporation is one of Japan s best known “sogo shosha,” or general trading house conglomerates, and was ranked as the third-largest company in the world (in revenue) for 1995, according to Fortune magazine. ITOCHU’s consolidated sales in the fiscal year ended March 31, 1996 topped US$153 billion. With eight subsidiaries, the CTC group of companies imports and sells computer systems and application software from major U.S. and European manufacturers, in addition to offering application development, system integration, and consulting services. CTC is the largest distributor in the world of Sun Microsystems products. The company represents a wide range of technology companies, including Netscape, Informix, Compaq Computer, and Sybase.
About MobileWare Corporation
MobileWare Corporation, with headquarters in Plano, Texas, designs, develops, and manufactures software solutions for the Internet and corporate Intranets. MobileWare recently announced the shipment of its new flagship product, WebMirrord Communications Server v1.0. WebMirrord Communications Server software is the first product available on the market that addresses all of the needs of a corporation for managed access to the Internet, corporate Intranets, and e-mail. The company also announced that WebMirrord Communications Server v2.0 will include full Java support for clients.
About Mirus Capital Advisors
Mirus Capital Advisors (formerly Ross Crossland Weston & Co.) provides investment banking solutions to corporate clients in technology, business services, manufacturing, consumer products, health care, and the resort & hospitality industry. Since 1987, Mirus has provided corporate finance advisory services on engagements including mergers, acquisitions, divestitures, recapitalizations, and valuations. For additional information, visit www.merger.com.Back to Transactions