Letter of Intent>
Letter of Intent
(Thomson Reuters ONE) - 7th July 2009 MILESTONE GROUP PLC "Milestone" or the "Company" Letter of IntentAIM listed Milestone today announces that it has executed a Letter ofIntent to purchase a minority non-controlling stake in JumpStartWireless Corporation ("JumpStart") as well as the right to representthe technologies in Europe.JumpStart Wireless was founded in 2000 by Dr. Jeffrey Bonar, whoearned his PhD in Artificial Intelligence. As an experiencedentrepreneur, he recognised the market opportunity in leveragingartificial intelligence to vastly reduce the cost of deliveringmass-market wireless business software - a productivity breakthroughfor an increasingly mobile and dispersed work force. This is the areaof focus for JumpStart Wireless.The company has developed channel partnerships with Sage Software,Primavera, SAP, AT&T Wireless, Verizon Wireless, IBM, RIM, Motorola,and Column IT. The JumpStart product was released to the market inthe summer of 2003 and now serves 30 customers and over 3000 users.Dr. Jeffrey Bonar assembled a management team that draws onprofessional experience from Verizon, IBM, American Express, andChoicepoint, as well as start-up companies.Dr. Jeffrey Bonar, CEO of Jumpstart Wireless said "As part of thistransaction we will have a new shareholder that brings real value tothe table as we look to roll out our products in Europe. We'relooking forward to working closely with Milestone, extending thereach of our technology and creating significant growth for bothcompanies."As part of the proposed transaction, which is subject to definitiveagreements being drawn up, the completion of due diligence and Boardapproval of both companies, Milestone will also represent thetechnologies of Jumpstart in the European marketplace in order todevelop alliances for the company earning success fees as a resultand providing a valuable geographic expansion of the Jumpstartoffering.Deborah White, CEO of Milestone said "I am very excited about thistransaction since Jumpstart is a ground breaking, proven technologywhich our collective management feel will suit the European marketplace well, a market which we are much better positioned to developthan Jumpstart who are based in Florida, USA."In addition to the foregoing, Milestone is now interviewing wirelesstechnology professionals as it intends to add to it's management inorder to maximise the opportunity.Once definitive terms have been reached it is intended that Milestonewill offer a small subscription in the market place in order topartly fund the acquisition.For further information:Milestone GroupDeborah White, Chief Executive Officer Tel: 020 7929 7826Arden Partners plcRichard Day/Adrian Trimmings Tel: 020 7398 1600---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Bereitgestellt von Benutzer: hugin
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" alt="Portfolio update>">Datum: 07.07.2009 - 14:08 Uhr
Sprache: Deutsch
News-ID 3317
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