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| [May 11, 2006] |
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SeaMobile(TM) Acquires Maritime Telecommunications Network (MTN); Combined Companies Provide Unmatched Communication Services on the Open Seas, Extending Connectivity to a New Frontier
SEATTLE & MIRAMAR, Fla. --(Business Wire)-- May 11, 2006 -- SeaMobile Inc., a leading global provider of advanced at-sea wireless voice, data and Internet communications services, today announced that it has acquired Maritime Telecommunications Network Inc. (MTN), the leading provider of satellite-based broadband communications and networking services for the maritime industry. The acquisition has been approved by the Federal Communications Commission. Terms of the agreement were not disclosed.
"SeaMobile saw a strategic opportunity to combine the wireless and satellite expertise of the world's leading maritime communications companies to completely change the way travelers communicate at sea," said William D. Marks, chief executive officer of SeaMobile. "Cruise travelers can take their own cell phones, Blackberry(R) devices and laptops, read their hometown newspaper, watch live TV, access bank accounts through onboard ATMs and much more. It is truly a new day at sea."
"Our guests have told us how important it is for them to stay connected with family, friends and business associates while on vacation," said Robin Lindsay, senior vice president of Vessel Operations for Oceania Cruises. "By partnering with SeaMobile and MTN, we offer our guests a best in class service that will help us to satisfy their needs and extend brand loyalty."
A heavy workload and pressures from the office are keeping many people from taking relaxing vacations on cruise ships. According to Mary Pace, director of corporate accounts for GlobalStar Travel Management Corp., "Staying connected is so important for my corporate clients even when they are planning a vacation. I can't tell you how many times my clients ask me if they will have cellular coverage and Internet access at a resort, on a cruise, or on an island during vacation. It's critical for business people to have those choices in order to enjoy their time away from the office."
A 2003 survey by Management Recruiters International of 730 executives found that 47% surveyed wouldn't use all their vacation time, and 58% said that the reason was job pressure. The same study also found that 35% said they wouldn't take a vacation because they have too much work to do. Connectivity at sea changes that, creating an extension of the office while enjoying time away.
SeaMobile, a Seattle-based company, was founded in March 2005 by veterans of the wireless telecommunications and cable industries to provide wireless voice, data, Internet, and other content and communications related services for cruise lines, oil and gas platforms, ferries, yachts, container ships and government/military sectors. The company recently announced contracts with Silversea Cruises and Oceania Cruises, and has since deployed wireless services on ships for both companies.
SeaMobile's proprietary technology is a sophisticated IP/software-based solution that works with any type of wireless phone (GSM, GPRS or CDMA) used by the customer when accessing the SeaMobile network at sea. This allows virtually anyone aboard any vessel at sea to use voice and data services available through their wireless home carrier, just as they would on land. Worldwide roaming agreements established by SeaMobile provide transparent connectivity for wireless services and billing is provided by the home carrier.
Based in Miramar, Fla., MTN was founded in 1991, and provides broadband connectivity and related services to the mobile maritime industry using state-of-the-art VSAT technology. Services include voice, data, corporate Internet and Internet cafes, compressed video, digital newspapers, an on-board television network and automated teller machines (ATMs). With installations on nearly 200 vessels today, the company has achieved impressive growth in the cruise line, oil and gas, and government/military sectors.
"We are excited about the potential for SeaMobile and MTN to serve the growing demand for communication services at sea. MTN has enjoyed beneficial relationships with financial partners in the past, but our relationship with the team at SeaMobile is very different because on a daily basis both companies are engaged in developing and delivering best-in-class services for our common customers on a global basis," said David B. Kagan, president and chief executive officer of MTN.
Leadership for the combined entity includes Marks, who will serve as chief executive officer of SeaMobile Enterprises, Kagan, who will continue to serve as president and chief executive officer of MTN based in Miramar, Fla., and Jack Donohue, a co-founder of SeaMobile and wireless industry veteran, who will serve as president of SeaMobile based in Seattle. SeaMobile and MTN will do business under their respective brands.
About SeaMobile
SeaMobile Inc., founded by some of the world's top mobile phone and telecommunications executives, delivers new and enhanced wireless voice and data communications services to the global maritime industry. SeaMobile technology enhances the communications experience of anyone at sea by offering wireless voice, data, short messaging and WiFi Internet access services. Wireless customers use their own mobile phone or laptop computer just as easily as they do on land. SeaMobile service allows cruise lines and offshore vessels superior communications capabilities to enhance revenue and improve operations, productivity and customer service. SeaMobile offers packaged and customized wireless solutions for cruise lines, ferries, yachts, container ships and offshore platforms. The company has offices in Seattle and Paris. For more information, visit www.seamobile.com.
About Maritime Telecommunications Network
Maritime Telecommunications Network Inc. (MTN), the leader in maritime communications, provides broadband solutions for voice, data, Internet and compressed video services to the cruise and offshore industries using state-of-the-art VSAT technology. MTN is focused on cost-effective, high-speed satellite solutions, while maintaining the highest standards of quality and availability. MTN's Digital Seas Internet product, the first information technology concession, provides turnkey Internet cafes to the cruise and offshore industries.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. A number of the matters and subject areas discussed in this press release that are not historical or current facts deal with potential future circumstances and developments, including our future expectations concerning the operations of SeaMobile and MTN. The discussion of such matters and subject areas is qualified by the inherent risks and uncertainties surrounding future expectations generally and also may materially differ from SeaMobile's and MTN's actual future experience involving any one or more of such matters and subject areas. SeaMobile and MTN have attempted to identify, in context, certain of the factors that they currently believe may cause actual future experience and results to differ from SeaMobile's and MTN's current expectations regarding the relevant matter or subject area. This press release speaks only as of its date, and SeaMobile and MTN disclaim any duty to update the information herein.
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