3Com Makes Equity Investment in Parthus Technologies
SANTA CLARA, Calif. — June 8, 2000 — 3Com Corporation (Nasdaq:COMS) today announced that it has recently taken an undisclosed equity stake in Parthus Technologies (Nasdaq:PRTH; LSE:PRH), a developer of platform-level intellectual property (IP) for the Mobile-Internet market. As part of the investment, Parthus will develop technologies for emerging wireless standards and, in particular, wireless networking.
In addition to being a leading networking provider today, 3Com is focused on developing solutions for five high-growth technologies: wireless technologies, broadband access, home networking, LAN telephony and Voice over Internet Protocol. Central to 3Com's strategy are investments in companies that are leaders in these high-growth technologies.
Parthus is a provider of platform-level IP solutions targeted at next-generation wireless standards such as 3G/W-CDMA, which enables broadband Internet access to wireless devices, and Bluetooth, which enables wireless-PAN (Personal Area Network) environments by providing connectivity between all classes of electronic devices without the need for cables.
Most recently 3Com has invested in companies that specialize in wireless technologies, home networking, converged networking and Internet-related technologies.
"At 3Com, we recognize that the need for anywhere, anytime connectivity drives increased deployment of wireless solutions globally," said Edgar Masri, senior vice president of business development at 3Com. "Our investment in Parthus will provide us with access to an extensive portfolio of leading edge IP-platforms that we will be able to leverage as we develop next-generation wireless products for businesses and consumers."
"3Com is a world-leader in wired and wireless networking and a market share leader in small business networking, LAN Telephony and CDMA wireless access – core markets that our platforms enable," said Brian Long, CEO and founder of Parthus Technologies, based in Dublin, Ireland. "With 3Com taking an equity stake in Parthus, it not only gives us both tremendous exposure to next-generation wireless networking technologies, but also to 3Com's extensive market base."
About Parthus Technologies plc
Formed in 1993, Parthus Technologies (formerly SSL) is over 300 professionals dedicated to the development of intellectual property (IP) platforms targeting next generation m-Commerce enabled devices and applications such as Bluetooth, MP3 Internet audio, GPS, smartphones and 3G cellular. Drawing on the expertise of over 250 engineers, we unite our capabilities in RF IC, DSP, mixed signal IC, digital ASIC and software in creating IP-platforms that deliver exceptional power, performance, cost and time-to-market advantages to our global customer base. Visit Parthus at www.parthus.com.
About 3Com Corporation
With more than 300 million customer connections worldwide, 3Com Corporation connects more people and organizations to information and each other in more innovative, simple and reliable ways than any other networking company. 3Com delivers web-enabled solutions to consumers, small- to medium-sized business locations and network service providers. For more information, visit 3Com's Web site at www.3com.com/pressbox.
This press release may contain "forward looking statements" within The meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any "forward looking statements" in this press release are subject to certain risks and uncertainties that could cause actual results to differ materially from those stated. Any statements that are not statements of historical fact (including without limitation statements to the effect that the Company or its management "believes," "expects," "anticipates," "plans" and similar expressions) should be considered forward-looking statements. Important factors that could cause actual results to differ from those indicated by such forward-looking statements include uncertainties relating to the acceptance of semiconductor intellectual property offerings, expansion of our business, quarterly variations in results, and other uncertainties that are discussed in the "Risk Factors" section of our final prospectus dated May 19, 2000, which is on file with the SEC and of our listing particulars dated May 19, 2000, filed with the London Stock Exchange and the Registrar of Companies in England and Wales and the Registrar of Companies in the Republic of Ireland.
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CONTACT:
3Com Corporation
Leslie Davis, 408/326-7187 leslie_davis@3com.com
or
Coltrin & Associates for 3Com Corp.
Alisa Hicks, 650/373-2005 alisa_hicks@coltrin.com
or
Parthus Technologies
Marlo Lucila, 408/293-8600 mlucila@pacifico.com