AMSTERDAM -- February 2, 2000 -- Qualcomm Wireless Business Solutions, a division of U.S.-based Qualcomm Incorporated (Nasdaq: QCOM), today announced plans to provide wireless communications-based fleet management solutions to the European freight transport industry and other transportation-based industries through the newly created eQ-COM, a subsidiary of Qualcomm. Debuting its products and services at the European Road Transport Show in Amsterdam, eQ-COM will launch commercial operations in four countries -- United Kingdom, Netherlands, Germany and Italy -- in Spring 2000.
Qualcomm is the world leader in wireless data communications products and services in the transportation industry with over 320,000 vehicles equipped throughout the world. In November 1999, Qualcomm acquired certain assets of Simac Mobile Solutions bv, located in both the United Kingdom and Netherlands. The acquisition included Simac's workforce, certain intellectual properties, and fleet management hardware and software products designed for vehicle applications and mobile workers where real-time communication between the field and home base is required.
By leveraging the recently acquired technology with Qualcomm's proven success as a wireless data provider, eQ-COM will be the leading single source provider of fleet-management solutions with Pan-European communications coverage. eQ-COM will be solely focused on serving the European road freight transport industry and selected additional transportation-based industries. eQ-COM's fleet management solutions will help European transportation companies increase productivity and improve the efficiency of their entire organization.
"Qualcomm's leading expertise in fleet management solutions for the freight transportation industry enables eQ-COM the ability to provide the fleet management customer with the right solution at the right price," stated George Mansho, vice president and general manager of international operations for Qualcomm Wireless Business Solutions.
Qualcomm Incorporated (www.qualcomm.com) is a leader in developing and delivering innovative digital wireless communications products and services based on the Company's CDMA digital technology. The Company's business areas include integrated CDMA chipsets and system software; technology licensing; Eudora® e-mail software for Windows® and Macintosh® computing platforms; and satellite-based systems including OmniTRACS® and portions of the Globalstar™ system. Headquartered in San Diego, Calif., Qualcomm is included in theS&P500 Index and is a 1999 FORTUNE 500® company traded on the Nasdaq under the ticker symbol QCOM.
Except for the historical information contained herein, this news release contains forward-looking statements that are subject to risks and uncertainties, including timely product development, the Company's ability to successfully manufacture significant quantities of CDMA or other equipment on a timely and profitable basis, and those related to performance guarantees, change in economic conditions of the various markets the Company serves, as well as the other risks detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended September 26, 1999, and most recent Form 10-Q.