Rosh Ha'ayin, Israel - November 07, 2000 - Partner Communications Company Ltd. (NASDAQ: PTNR) announces an agreement between Partner Future Communications Ltd. (PFC), Partner's fully owned subsidiary, and Israel's Estimotion Ltd., a fully owned R&D subsidiary of Estimotion Inc., for co-operation in the development and implementation of technology for traffic flow forecast.
The collaboration is related to the development of the Estimotion for Orange Package ("EOP"), a generic system providing private and business customers applications with personal driving time estimates, route recommendations and real time updates due to traffic events, based upon a traffic flow prediction engine. The system collects information about driving time and congestion levels by sampling the relative location of orangeTM subscribers on various routes. The services and information are provided via WAP, SMS, and other interfaces.
According to the agreement, Partner will be a beta site for the new Estimotion service based on EOP. Partner Future Comm. was granted an option to hold an equity stake in Estimotion Inc., the parent company of Estimotion Ltd., in consideration for its par value only, as well as an option to participate in the purchase of additional securities to be issued in the frame of the next two funding rounds.
Amikam Cohen, CEO of Partner Communications commented: "The agreement with Estimotion is another step in realizing Partner's long-term strategy to enable our subscribers to be the first in the Israeli market to benefit from new and most advanced wirefree applications".
Amnon Harari, CEO of Partner Future Comm., said that the agreement is another milestone in the development of one of the most advanced wirefree incubator vehicles in the exciting Israeli market. "The agreement", he said, "allows Partner to benefit from its unique position as the sole GSM operator in Israel and to continue to provide a gateway into the GSM world for a growing number of Israeli start-up companies developing products and applications for 2G and 3G cellular networks".
Dr. Israel Feldman, President of Estimotion noted: "The agreement with PFC marks an important phase in realizing the value of Estimotion's technology. Partner is an ideal partner for development, testing and application of a range of services which may well be among the most sought after value creating services for cellular networks and navigation in the networked vehicles of the future."
Partner Communications Company Ltd. is the only Global System for Mobile Communications, or GSM, mobile telephone network operator in Israel. The Company commenced full commercial operations in January 1999 under the international Orange Brand name and, through its network, provides quality of service and a range of features to over 630,000 subscribers in Israel.
Partner provides its subscribers with international roaming services. It has 184 operators in 75 countries. The Company's shares are quoted on NASDAQ under the symbol PTNR and on the London Stock Exchange under the symbol PCCD. (For further information: http://investors.partner.co.il)
Estimotion Inc. is incorporated in the United States and has a fully owned R&D subsidiary (Estimotion Ltd.) located in Israel. The company develops technology and a generic system, for traffic flow forecast, by sampling location data from cellular phones and other mobile location sources. The system services for private and business customers include personal driving time estimates, route recommendations and real time updates due to traffic events, via WAP, SMS and other Interfaces. Estimotion provides complete solutions for cellular network operators, navigation and road service companies.
Contacts:
| Partner Communications Company Ltd. | Estimotion Ltd. |
| Dr. Dan Eldar | Arie Trinker |
| VP Carrier, Investor and International Relations | CEO |
| Tel: +972-3-9054151 | Tel: +972-9-9559246 |
| Fax: +972-3-9054161 | Fax: +972-9-9570087 |
| Email: dan.eldar@orange.co.il | Email: arie@estimotion.com |
| © Copyright 1996-2024 irasia.com Ltd. All rights reserved. |
|
DISCLAIMER: irasia.com Ltd makes no guarantee as to the accuracy or completeness of any
information provided on this website. Under no circumstances shall irasia.com Ltd be liable
for damages resulting from the use of the information provided on this website.
TRADEMARK & COPYRIGHT: All intellectual property rights subsisting in the contents of this website belong to irasia.com Ltd or have been lawfully licensed to irasia.com Ltd for use on this website. All rights under applicable laws are hereby reserved. Reproduction of this website in whole or in part without the express written permission of irasia.com Ltd is strictly prohibited. TERMS OF USE: Please read the Terms of Use governing the use of our website. |