Announced by:EASTERN CORPORATION LIMITED (ECU) Announced on: 13/05/2002 10:15:18 827 words Status: Not market sensitive (N) Industry Sub Group: Gold Explorer (12)
+++++++++++++++++++++++++ The Directors of Eastern Corporation Limited (Eastern) are pleased to announce the receipt of a second press release issued by JabCast Inc. announcing that Streampath Wireless Inc and JabCast have entered into an agreement to combine JabCast's Secure RealTime Communications (SRC) system with Streampath's instant messenger product.
Through strategic relationships with Nokia, SonyEricsson and Cellmania, Streampath is world leader in J2ME (Java-enabled) messaging.
Now Streampath and JabCast have linked forces to offer Secure RealTime Communication to more than 50 million Java-enabled mobile telephones. According to a study by ARC Group, the number of J2ME compatible hand-helds is estimated to be 421 million in 2003, increasing to 1 billion in 2006.
JabCast SRC is a product developed by JabCast Inc, a USA based company 51 % owned by Online Media Group Pty Ltd (OMG). Eastern presently holds a 30% interest in OMG and thereby an indirect interest in JabCast Inc. As previously announced (18 February 2002) Eastern plans to increase its holding in OMG up to 50% in recognition of the recent positive developments by OMG and JabCast. A Notice of Meeting seeking shareholder approval is to be issued shortly.
"For the first time, JabCast and Streampath give security to tens of millions of people who send personal messages every day through their mobile phones," says JabCast CEO, Mr Craig Woolven.
Mr Andy Bernal, President and CEO of Streampath: "We see huge benefits to both companies by jointly exploiting our technologies to the Java enabled market. Firstly, through the licensing of the world's first secure mobile client to device manufacturers and wireless network operators. Secondly, through the sale of JabCast SRC servers to network operators. And thirdly, and increase in sales to businesses wishing to securely mobile their workforce.
"Through our partnership with JabCast, Streampath's mobile Instant Messaging solutions are greatly enhanced by allowing Streampath to provide end-to-end, carrier-grade secure mobile communications to its customers. This combination creates a unique and powerful tool to wireless-enable the workforce through IM. We are very excited about the possibilities."
A full copy of the JabCast press release is attached.
Garry Clark MANAGING DIRECTOR
JABCAST PRESS RELEASE:
SECURE MOBILE MESSAGING Australia's JabCast and Streampath join forces.
Two world-leader companies have joined forces to deliver a unique high-value product for the exploding wireless telephone messenger market.
Streampath Wireless Inc and JabCast Inc have united to combine JabCast's Secure RealTime Communication (SRC) system with Streampath's instant messenger product.
Through strategic relationships with Nokia, SonyEricsson and Cellmania, Streampath is world leader in J2ME (Java-enabled) messaging.
JabCast is the world leader in Secure Realtime Communication. JabCast's SRC server range operates on Windows, Linux, Unix and Compaq's 0penVMS, which make up 90 per cent of the world market.
Now Streampath and JabCast have linked forces to offer Secure RealTime Communication to more than 50-million Java-enabled mobile telephones.
JabCast is controlled by Australia's Online Media Group, based in Sydney.
"For the first time, JabCast and Streampath give security to the tens of millions of people who send personal messages every day through their mobiles phones," says JabCast CEO, Mr Craig Woolven.
"And this is the breakthrough needed to make mobile-phone messaging a business, industry and governmental tool.
"Even better, JabCast's XML architecture means mobile users can communicate across proprietary systems.
"In the past, mobile service providers have been reluctant to adopt non-proprietary encryption standards. But with JabCast SRC, mobile operators can install their own proprietary encryption algorithm in a matter of hours, ensuring security and customer ownership.
"Streampath is recognised as the world leader in mobile messaging clients for the rapidly-expanding Java-enabled mobile phone market. JabCast is delighted to have joined forces with Streampath."
Nokia, Motorola, Siemens, Samsung, LG Electronics, Panasonic, Fujitsu, NEC, Sony, Mitsubishi Electric, Sharp, Psion, RIM, and Inventec are already shipping, or have plans to ship devices integrated with Java technologies.
Cingular Interactive, Far EasTone, J-Phone, KDDI, Omnitel, One2One, SmarTone, Sprint PCS, Telefonica and Vodafone, all have plans to deploy or trial Java technology-based services and devices.
According to a study by ARC Group, the number of J2ME compatible hand-helds is estimated to be 421 millions in 2003 increasing to 1 billion in 2006.
Mr Andy Bernal, President and CEO of Streampath: "We see huge benefits to both companies by jointly exploiting our technologies to the Java enabled market. Firstly, through the licensing of the world's first secure mobile client to device manufacturers and wireless network operators. Secondly, through the sale of JabCast SRC servers to network operators. And thirdly, an increase in sales to businesses wishing to securely mobile their workforce.
"Through our partnership with JabCast, Streampath's mobile Instant Messaging solutions are greatly enhanced by allowing Streampath to provide end-to-end, carrier-grade secure mobile communications to its customers.
"This combination creates a unique and powerful tool to wireless-enable the workforce through IM. We are very excited about the possibilities."
For more information:
Craig Woolven, CEO JabCast Inc: [email protected] Darren McVean, Business Development Manager: [email protected] Telephone: 61 2 9290 1889
ECU Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
