Orbit E-Commerce Finalizes License Agreement with Aurora Tech Corp.
January 22, 2004 (PRLEAP.COM) Technology NewsTORONTO — Orbit E-Commerce Inc. (OTC Bulletin Board: OECI) today announced it has entered into a five year renewable license agreement with Aurora Tech Corp. ("ATC') to market ATC's technology which enables telephone and cable companies, Internet Service Providers ("ISP's') and other Communication Service Providers ("CSPs') to deliver the next generation of Internet-based services, including broadcast video.
OECI will market this technology through its wholly owned subsidiary, Orbit America Inc., which was incorporated in the State of Delaware in December 2001. A marketing team under the direction of John Neufeld, Orbit America's newly appointed Vice President of Marketing & Sales, has been established and beta trials with various CSP's will be deployed upon delivery of equipment by the end of Q1 2004. Revenue is expected by the end of Q2 2004.
ATC has designed an Internet-based set-top-box that will enable CSP's to provide the vaunted Triple Play of convergence – simultaneous provision of voice, video, and data services in any public or private broadband network. For example, ATC's Internet-based solutions enable CSP's to deliver broadcast video content from around the world as well as Video on Demand, digital video recording services, video conferencing, as well as Internet-based telephony services (VoIP).
Triple Play technologies have typically been dominated by proprietary solutions. Internet-based solutions eliminate the need to rely on these proprietary solutions, which are typically expensive and complex for both users and service suppliers. Internet-based solutions, such as ATC's also make it easy to install and operate Triple Play solutions for both consumers and CSP's – all at a relatively low cost.
ATC is at the leading edge of these developments, having designed its own standards-based Internet set-top-box. Indeed, ATC's technology team has been deeply involved in developing Internet-based Triple Play solutions since 1998 and the Company is "well ahead of the curve', according to Ross Jeffery, OECI's Chief Technology Officer. OECI believes it is these Internet set-top-boxes that will finally enable the Triple Play to become economically viable for both CSP's and consumers.
The initial applications for ATC's set-top-box technology are: video-conferencing (for both enterprise and consumer use), distance-learning, and tele-medicine – all tremendously lucrative and growing opportunities. Once content Digital Rights Management ("DRM') issues are resolved by the entertainment and communications industries, ATC's technology will enable the streaming of consumer-oriented broadcast video content such as movies and television shows over the Internet.
At this time, OECI is also announcing it has suspended negotiations with GAN & Associates Inc. ("GAN') to acquire the Voice over Internet ("VoIP') network operated by GAN's subsidiary, Phoenix TelNet LLC as the two companies have thus far been unable to resolve certain critical issues. These negotiations were announced in the press release of October 16, 2003. As previously disclosed, OECI has a 49% interest in Phoenix TelNet LLC. With the termination of these negotiations, OECI will focus its efforts and resources on the ATC license and the opportunity it represents.
About Orbit E-Commerce Inc.
Orbit E-Commerce Inc. was established in 2000 for the purpose of capitalizing on management's vision and expertise in the field of Internet-based telecommunications systems, products, and services. In its first year of operation, to prove the viability of its network architecture, it successfully built the largest pure Voice over Internet ("VoIP') network in Canada. In 2002, operations of the Canadian network were suspended to enable the Company to concentrate on the substantially larger opportunity of building a similar network in the United States, which it did in partnership with GAN and Associates. This partnership resulted in the Phoenix TelNet network, which has points-of-presence in 26 major urban centres in the United States, a Network Operations Centre ("NOC') and customer call centre in Toronto, as well as proprietary automated billing and administrative systems. The cities covered by the network comprise an approximate population of 75 million people and include, among others, the greater metropolitan areas of New York, Los Angeles, Chicago, San Francisco, Atlanta, Miami, Boston, Dallas, San Diego, Houston, and Washington, DC. The acquisition of the ATC license represents a logical evolution in the development of the Company as it moves to develop and capitalize on advanced Internet-based communications technologies.
For information regarding this press release, please contact:
Mr. Douglas C. Lloyd,
President and Chief Executive Officer,
Orbit E-Commerce Inc.,
416-850-7139 or via e-mail at: email@example.com.
For information regarding products and trials, please contact:
John Neufeld, Vice President Marketing and Sales,
Orbit America Inc.
416-850-7139 or via e-mail at: firstname.lastname@example.org.
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Forward Looking Statements Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties and assumptions included potential issues relating to interoperability, inability to introduce new products, changes in market conditions, government regulations, technological changes and other factors. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein.