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WirelessDevNet.com Press Release
NETWORK365 AND iPIN MERGE
Dublin, Ireland and California, USA - 17th November 2003 - Network365 and iPIN today announced that they have agreed to combine their businesses in a merger to create the global leader in payments technology. The newly combined company, to be called Valista(tm), with the tagline 'one choice for global payments(tm)', brings together Network365's dominance in the Japanese and Asian markets and iPIN's European and US leadership positions, while uniting the two companies' complementary product sets. The merger, approved by the boards of both companies, is expected to be completed by January 2004 and will create the worldwide market leader in electronic and mobile payments technology.
On completion of the merger, Mr. Raomal Perera, currently CEO of Network365, will become Chief Executive Officer of Valista. Mr. Alexandre Gonthier, currently CEO of iPIN, will become Chief Strategy Officer and Mr. Andy DeMari, current chairman of Network365, will become chairman of the new company. The complete Valista board will include Raomal Perera and Kevin McGrath (Chief Financial Officer), Alexandre Gonthier and representatives from venture capital firms - Amadeus Capital Partners and Advent Venture Partners in the UK, Trinity Venture Capital in Ireland and Sutter Hill Ventures in the US.
Mr. Raomal Perera said, "Network365 has a strong presence in Asia and especially in Japan with a world-class customer base of leading mobile operators. iPIN has made significant inroads into the ISP and landline operator sector and is primarily focused on the US and European markets. The synergies between the companies are striking and this merger will fundamentally change the payments marketplace. Valista will have a broader customer reach and an expanded global footprint which will enable us to become the world leader in payments solutions and standards. Our vision is to grow the company so that wherever you are, and however you pay, the solution deployed will be based on Valista's payments technology."
Mr. Alexandre Gonthier said, "The merger of iPIN and Network365 is very exciting and will create what we believe will be the leading global provider of electronic and mobile payments technology. Both companies have experienced management teams, proven complementary products, a presence in key markets and wide global customer and partner bases. Valista is well positioned to exploit the opportunities in converged payments solutions among fixed line operators and ISPs as well as wireless operators."
Industry analysts have reacted positively to the merger, viewing it as a significant event which will enable the growth of payments technology and the evolution of standards.
Adam Zawel, Director, Wireless / Mobile Enterprise & Commerce (WMEC) at the Yankee Group said, "This is a merger of two leading mobile commerce companies with complementary technologies, global customers and key partnerships. While Network365 has proven itself in Asia in the mobile macro-payments space, iPIN has gained traction with its micro-payment solutions for operators and enterprises in the US and Europe. Given these synergies, Valista emerges as a leader in the provision of payments infrastructure for electronic and mobile commerce and is a catalyst for the evolution of payment standards in the industry."
Network365 develops software that enables wireless operators, banks and enterprises to deploy mobile data solutions with mzone(r), a comprehensive payments, multi-channel top-up and service delivery suite. Its award-winning mzone technology has been deployed in 18 countries and in multiple languages by key customers including NTT DoCOMo, 3, Hong Kong CSL, O2 ,Taito Corporation and TODO1 in the Americas. Network365 has offices in Ireland, Asia, Europe and the Americas.
iPIN's Enterprise Payment Platform (EPP) is a single, multi-operator, interoperable, end-to-end platform that powers a variety of payment applications deployed by both operators and enterprise clients in the US and Europe. iPIN's customers and partners include Vodafone UK, France Telecom's w-HA, Orange and Wanadoo, T-Online and Tiscali in France, General Motors, Accenture, Cap Gemini Ernst and Young, Convergys and Gemplus.
ABOUT VALISTA(tm) Ltd.
Established in 2003 following the merger of Network365 and iPIN, Valista is a global company with offices in Ireland, the US, France, Italy, UK, Japan, Sri Lanka, Singapore and Brazil. The merger brings together the two premier payments technology companies with complementary products, a global customer base and world-class partnerships. Network365 is the market leader in mobile macro-payments while iPIN is the dominant provider of micro-payment solutions worldwide. The combined subscriber base with access to the Valista product suite exceeds 150 million users with over 1000 merchants utilizing the company's merchant integration technology. As a result, Valista has emerged as the leading provider of payments infrastructure for electronic and mobile commerce.
KEY CUSTOMERS INCLUDE:
Vodafone in the UK, NTT DoCoMo and Taito Corporation in Japan, France Telecom's w-HA, Orange, Wanadoo, Ticscali and T-Online in France, 3 in eight countries, Hong Kong CSL, General Motors and TODO1 in the Americas, O2 in Europe, Oskar in the Czech Republic, and Celltel Lanka in Sri Lanka.
KEY PARTNERS INCLUDE:
Accenture, Cap Gemini Ernst and Young, Convergys, Ericsson, Gemplus, HP and IBM. Valista is also an active member of the Mobile Payment Forum, the GSM Association, Paycircle and Liberty Alliance.
PRODUCTS & TECHNOLOGY
Valista's technology has been proven in real world implementations by leading service providers and corporations across four continents. Valista enables wireless and fixed line operators, ISPs, financial services institutions and enterprises to create new relationships with customers by facilitating the purchase and delivery of digital content, goods and services in a secure and convenient way. Enterprises benefit from higher revenue streams, increased loyalty and reduced costs. Valista's products support the entire commerce ecosystem and cover the end-to-end business processes including multi-channel ordering, authentication, payment, settlement, service delivery, and post-purchase care.
Valista's product portfolio includes multi-channel top-up, micro and macro payments, service delivery, user profile management and cash replacement. All Valista products support multiple access channels and payment models, allowing consumers to transact wherever they are, however they pay.
ABOUT NETWORK365 LTD.
mzone(r) by Network365 enables the mobile lifestyle by offering subscribers multi-channel top-up and a range of payment options as they purchase voice and data services on the move - guaranteeing a higher return on investment., increased customer service and loyalty for mobile operators. mzone includes mzone multi-channel top-up; mzone avatar, a comprehensive mobile payments platform with wallet and stored value (purse) functionality; and mzone agora a mobile service delivery platform. Key customers: NTT DoCoMo, 3 (formerly Hutchison 3G), Hong Kong CSL, Taito in Japan, TODO1 in the Americas, O2 in Europe, Oskar in the Czech Republic, and Celltel Lanka in Sri Lanka.
ABOUT iPIN
iPIN's Enterprise Payment Platform (EPP) is the leading end-to-end electronic and mobile commerce payment technology. iPIN's EPP enables wireless carriers, ISPs, broadband operators, telcos, automotive OEMs, financial services organizations and retailers to expand existing or create new financial relationships with customers by providing the framework for a cost-effective, revenue-generating commerce ecosystem where goods and services can be purchased in a secure and convenient manner. iPIN's customers and partners include Vodafone UK, France Telecom's w-HA, Orange and Wanadoo, Tiscali France, General Motors, T-Online France, Accenture, Cap Gemini Ernst and Young, Convergys and Gemplus.
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The Valista(tm) logo and 'one choice for global payments(tm) are trademarks of Valista Limited. All other trademarks and registered trademarks referenced in this document are the property of their respective owners.
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