International Wireless Announces Requirements Met for
Acquisition of Route1â„¢ Corporation
April 18, 2002.
Koala International Wireless, Inc.
Koala International Wireless, Inc. (OTCBB: KIWI) a Mobile
Virtual Private Network Operator "MVPNO" and developer
and consolidator of web-based, wireless network applications,
announced today that requirements for the acquisition of all of
the assets of Route1 Corporation have been met. Koala has begun
the formal closing process and will acquire 100% of the assets
of Route1 in exchange for 750,000 restricted shares of Koala.
Route1 is a
next-generation financial transaction processing company. The
Company's proprietary encrypted messaging platform, Route1
Acceleratorâ„¢, facilitates the delivery of a wide range of
business solutions - quickly, securely and cost-effectively.
Accelerator applications include Internet-enabling of Automated
Banking Machines (ABM/ATMs) for financial institutions, POS
systems for retail payment locations, infrastructure for
Application Service Providers (ASPs) and delivering secure
transaction services to the wireless sector.
President and CEO of Route1, will join Koala as a senior
executive and acting Chief Information Officer. Mr. White
stated, "I am very enthusiastic about the formal
integration of Route1 technology into the Koala family. Route1's
technology, integrated with the Koala Network and technology
platform, strengthens and confirms Koala's security, encryption
and transaction management capabilities and enables us to
deliver highly-functional innovation to electronic payment
Johnston, President and co-founder of Koala, added, "The
acquisition of Route1 significantly strengthens Koala's
technology platform and expertise relating to financial
transaction management. The addition will enable Koala to
complete key elements of its Mobile Virtual Private Network and
serve to support Koala's products and services as defined in our
International Wireless, Inc.
Koala International Wireless, Inc., develops and provides
next-generation wireless communication, information and
entertainment products and services. Koala is assembling and
integrating a virtual network and applications platform that
uniquely positions the Company to capitalize on several existing
and complementary market opportunities. By aggregating and
consolidating the available infrastructure of existing cellular
carriers, Koala is building a Mobile Virtual Private Network (MVPN)
that enables the KIWI, Koala's next-generation personal
communications device, and other wireless devices, to access the
Internet and other services. The applications platform developed
by Koala incorporates state-of-the-art encryption and data
compression techniques that will ensure secure, real-time data
transmission throughout the network. These capabilities will
allow Koala to provide network server-based data, voice and
media communications, e-Banking, entertainment, information and
service applications directly to its targeted subscribers on a
portable, hand-held unit. Koala's MVPN and applications
capabilities create a number of opportunities for the Company to
exploit underserved and/or emerging markets. Initial targets for
Koala include the upgrade of fixed-base (wired) Point of Sale
(POS) systems to a more efficient wireless system for the
restaurant, hospitality, and entertainment industries, ATM/ABM
connectivity applications, international remittance and entry
into the PDA/personal communications device market with the
KIWI, a superior device with a price substantially less than
other products currently available.
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