News Corp. increases stake in OmniSky
As part of the transaction, Lachlan Murdoch, Deputy Chief Operating Officer of News Corporation, will continue as a board member of OmniSky Corporation, and the two companies will continue to leverage each other's assets in pursuit of international opportunities. News Corporation will continue to provide OmniSky with access at preferred rates to content created or distributed by News Corporation and its affiliates and has agreed to continue to offer OmniSky advertising, technology and other support services consistent with its prior commitments to the joint venture.
"We think this is a 'win-win' transaction for OmniSky stockholders and News Corporation," said Patrick McVeigh, chairman and chief executive officer of OmniSky Corporation. "The synergies and cost-efficiencies of a single, globally-focused company have become very apparent to us and to News Corporation, especially after launching our service in the U.K. and Germany over the past several months. We're extremely excited that News Corporation has reaffirmed its commitment to OmniSky and that it will continue to support our efforts to offer the leading wireless applications and services on a global basis."
"We remain long-term believers in OmniSky and its strategy, and viewed this as an opportunity to align ourselves more closely with the premier globally focused wireless applications and services company," said Lachlan Murdoch. "We think this transaction puts us and OmniSky in a better position over the next several years to realize the tremendous opportunities available, both in the United States and internationally, in the wireless data market."
About OmniSky
OmniSky is a leading global provider of wireless applications and services for users of mobile devices. OmniSky's award-winning service offers mobile professionals access to up to six e-mail accounts, including corporate e-mail via Microsoft Outlook as well as POP3 e-mail, the ability to search and surf the Internet, a broad range of optimized Web content, and the ability to securely conduct e-commerce transactions. The OmniSky service is available on the Palm V and Palm Vx, Handspring Visor Platinum, Visor Prism and Visor Edge, HP Jornada 520/540 Series Pocket PCs, the Compaq iPAQ Pocket PC, and soon on the Casio E-125 and HP Pavilion Notebook PCs, and can be purchased online or in over 1,500 retail outlets across the U.S. Service coverage includes over 167 major metropolitan areas within the United States, encompassing over 172 million people. OmniSky also offers its service outside of the U.S. through U.K. and German beta programs and has plans to expand into additional international markets this year.
In 2001, OmniSky will offer its proprietary wireless applications and services, including Communications, Content Delivery, and Location-Based Services to telecommunications carriers, online service providers, hardware manufacturers, and other third parties. OmniSky will enable these companies to offer differentiated wireless data solutions on any mobile device, from WAP-compliant cell phones to PDAs and laptop computers, and on the most widely available wireless networks, such as CDPD, CDMA, GSM and GPRS.
OmniSky is headquartered in San Francisco. For more information visit www.omnisky.com or call 415/764-2200.
Source: OmniSky
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