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August 23, 2004
MobilePro Signs MOU With ActivePoint Covering Software Distribution, Use of MOBL's Bandwidth
BETHESDA, Md., Aug. 23 /PRNewswire-FirstCall/ -- MobilePro Corp. (OTC Bulletin Board: MOBL - News) announced today that is has signed a memorandum of understanding with the Israeli technology company ActivePoint Ltd. (a subsidiary of ActivePoint Inc.) to jointly pursue a working relationship covering a number of potential technology and communications projects.
The companies have agreed that a future working relationship could include select opportunities involving ActivePoint's search engine and other software and MobilePro's ISP services, wireless, security and other telecommunications and IT initiatives within North America. The final terms are subject to a definitive agreement between the two firms.
Kurt Gordon, MobilePro's chief financial officer and head of strategic alliances, ventures and investments, said, "There are a number of strong potential synergies between our two companies. In addition to opportunities involving ActivePoint's search engine, we are interested in testing ActivePoint's software solutions at one of our ISP or Voice Division subsidiaries. We believe we could be helpful in securing approvals for ActivePoint's technology with appropriate government and industry standards groups. We also are interested in introducing ActivePoint's patent on Internet credit card security to our government and securities contacts and our channel and alliance partners who may have an interest in the underlying technology."
Ofer Moshe, CEO of ActivePoint, said, "MobilePro's extensive bandwidth capability combined with our interactive media access platform could be of great value to us. This is just one of several potentially important strategic opportunities that we are exploring with the MobilePro management team."
About ActivePoint, Ltd.
ActivePoint Ltd., established in 1998, is a privately held company based in Netanya, Israel near Tel Aviv, Israel's financial and industrial center. The company's management and R&D teams are comprised of business development professionals, computer scientists and programmers with particular experience in Internet technologies and smart algorithms.
The company's primary product is its interactive system that promotes virtual selling and service capabilities. The ActivePoint system operates independently without a call center, sales support staff or MIS professionals to manage ongoing visitor interaction. The system is easily integrated into existing sites, requiring minimal investment in time and money. The ActivePoint reporting tool provides real-time market research and, its management believes, is unique in that it allows website owners to easily see what their clients are looking for.
About MobilePro Corp.
MobilePro Corp. is a wireless technology and broadband telecommunications company based in Bethesda, Maryland with operations in Hurst, Houston, Dallas and Beaumont TX; Shreveport, LA; Kansas City, MO; Coshocton, OH; Detroit, MI; and Janesville, WI. The company is focused on creating shareholder value by developing innovative wireless technologies, acquiring and growing profitable broadband telecommunications companies and forging strategic alliances with well-positioned companies in complementary product lines and industries. Since January 2004, MobilePro Corp. has announced letters of intent representing over $77 million in annualized revenue and has closed transactions representing over $19 million in annualized revenue.
An investment profile about MobilePro Corp. may be found online at
http://www.hawkassociates.com/mobilepro/profile.htm.
For more information, contact MobilePro CEO Jay Wright at (301) 315-9040. For investor relations information, contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 852-2383, email: info@hawkassociates.com. Detailed information about MobilePro can be found on the website http://www.mobileprocorp.com. An online investor kit including copies of MobilePro press releases, current Level II price quotes, Java stock charts and other valuable information for investors may be found on the website http://www.hawkassociates.com.
This release contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which represent the company's expectations or beliefs concerning future events of the company's financial performance. These forward-looking statements are further qualified by important factors that could cause actual results to differ materially from those in the forward- looking statements, including the company's ability to obtain future financing on favorable terms, changes in the wireless and telecommunications industries that compel the company to alter its present business strategy, the company's ability to attract management capable of implementing the company's existing or future business strategy and the risk factors set forth in the company's SB-2 registration statement. Results actually achieved may differ materially from expected results included in these statements as a result of these factors or others.
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