724 Solutions Announces Agreement for X-treme MMS Accelerator
SANTA BARBARA, Calif.--(BUSINESS WIRE)--July 20, 2004--724 Solutions (NASDAQ:SVNX)(TSX:SVN), a leading provider of next-generation IP-based network and data services, today announced the signing of an agreement with a leading mobile network operator to provide the X-treme MMS Accelerator (XMA) solution.
The X-treme MMS Accelerator (XMA) solution allows mobile network operators to launch new revenue-generating application-to-person (A2P) MMS messaging services in an efficient and cost-effective manner. Traditional MMS Service Centers (MMSCs) are adequate for the delivery of peer-to-peer MMS messages, but lack the message throughput to allow mobile network operators to take advantage of the newly emerging application-to-person MMS messaging opportunity. Strategy Analytics predicts global A2P MMS messaging revenue to grow to $10 billion, capturing almost half of the global MMS market in 2008.
About 724 Solutions
724 Solutions (NASDAQ:SVNX)(TSX:SVN) delivers reliable, scalable technology and solutions that allow mobile network operators to rapidly deploy flexible and open next-generation IP-based network and data services. Additionally, in conjunction with mobile operator partners, the company provides a series of actionable alerting solutions to enterprises to assist them in lowering operating costs and improving customer relationship management. 724 Solutions is a global company, with development operations in Canada and Switzerland, and with its corporate office in Santa Barbara. For more information, visit www.724.com.
This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements include the statements herein regarding: the services and products that will be offered by 724 Solutions, the benefits that businesses will obtain from these services and products, future demand for these services and products, our future operating and cash performance, our plans and prospects and the sufficiency of our cash resources. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including the risk that 724 Solutions will be unable to deploy its solutions and products, the risk that the demand for these solutions and products, or for 2.5G and 3G networks, will not increase as presently anticipated, the risk that general economic conditions will not improve or deteriorate, and other risks described in 724 Solutions' Securities and Exchange Commission filings, including its annual report on Form 10-K and its quarterly reports on Form 10-Q. These risks are also described in 724 Solutions' filings with the Canadian Securities Administrators. 724 Solutions does not undertake any obligation to update this forward-looking information, except as required under applicable law.
Contacts
724 Solutions
Kelly Lazarus, 805-884-8306
Email: klazarus@724.com
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