Regulatory News:
Wavecom SA (Paris:AVM) (NASDAQ:WVCM) (ISIN:FR0000073066) today
announced the signing of a Memorandum of Understanding that sets the
framework for co-development of future wireless payment electronics
terminals with Ingenico.
As industry demand for cost effective and innovative payment
systems grows, two leaders - Ingenico a leading supplier of electronic
payment terminals and Wavecom a leader in industrial wireless
technology - are combining forces to establish a platform for a next
generation wireless electronic payment system architecture.
The terms of the agreement make Wavecom the primary supplier of
wireless technology to Ingenico for future generations of
state-of-the-art wireless payment terminals. Furthermore, the two
companies´ R&D teams will work together, each bringing their own
skilled experts to jointly evolve innovative, cost-effective new
systems. The wireless payment systems space is complex, taking into
account the highly rigorous needs of the banking industry for secure
transactions, and one in which Ingenico has long time experience. It
also depends on the cellular wireless world, one in which Wavecom is a
pioneer and brings extensive expertise and unique skills for ensuring
secured cellular communication.
Mobility is becoming a major trend in the payment terminal market,
we anticipate that wireless terminals will become dominant in the
coming years and we believe that Wavecom is the best-positioned
partner to get us there," commented Christophe Dolique, Marketing VP,
from Ingenico. He added, "Combining Wavecom´s unrivalled level of
expertise in industrial wireless communication with Ingenico´s vast
knowledge of the extremely complex world of electronic payment systems
put us on track for significantly expanding this market."
Frank Souguir, Group Vice President for the EMEA region at Wavecom
commented, "Together with Ingenico, we believe that we can optimize
the architecture for payment systems, bringing the total system cost
down significantly. We further intend to work on streamlining the
manufacturing of wireless payment systems and help launch a wide array
of new products that meet a growing demand for faster, easier and
totally secure payment transactions from around the world."
About Ingenico
Throughout the world, businesses rely on Ingenico for secure and
expedient electronic transaction acceptance. Ingenico products
leverage proven technology, established standards and unparalleled
ergonomics to provide optimal reliability, versatility and usability.
This comprehensive range of products is complemented by a global array
of services and partnerships, enabling businesses in a number of
vertical sectors to accept transactions anywhere their business takes
them. For more information about Ingenico, please visit:
www.ingenico.com.
About Wavecom
Wavecom is a worldwide leader in embedded industrial wireless
communication solutions for automotive, machine-to-machine and mobile
professional applications. Wavecom´s solutions include the Open AT(R)
software platform encompassing the Wavecom Open AT(R) Operating
System, a wide range of Plug-Ins, the Open AT(R) Integrated
Development Environment (IDE) along with a market-leading range of
Wireless CPUs (Central Processing Units), and an expanding portfolio
of services. These complete embedded solutions enable makers of all
types of machines to development of a new breed of intelligent
wireless applications, without the need of external processors and
other ASICs (Application Specific Integrated Circuits) and components.
Founded in 1993 and headquartered in Paris, Wavecom has
subsidiaries in Research Triangle Park, NC (USA), (USA), Hong Kong
(PRC) and Farnborough (UK). Wavecom is publicly traded on Euronext
Paris (Eurolist) in France and on the NASDAQ (WVCM) exchange in the
U.S. www.wavecom.com
