2006-05-23
Birdstep emits 3 million new shares to Vollvik Invest AS for additional funds of NOK 42 million
~ Birdstep Technology AS in agreement with Vollvik Invest to emit 3 million new shares for the price of 14 NOK per share~
Oslo/Stockholm/Seattle/Cambridge – May 24, 2006 –Birdstep Technology ASA, the leading provider of seamless mobility and connectivity client software, today held an extraordinary shareholders meeting that approved the emission of 3 million new shares to Vollvik Invest AS for the price of NOK 14.00 per share. The same share issue also gives Vollvik the option to purchase additionally 1.5 million shares within twelve months from the date of the extraordinary shareholder meeting also at NOK 14.00 per share.
”Birdstep has great potential and we strongly believe in the growth potential of the company. Our investment is long term and we believe that Birdsteps' product portfolio is well positioned to win a significant market share of the connectivity and mobility market”, said Idar Vollvik, Chairman of Vollvik Invest AS.
“Vollvik's decision to make this investment in Birdstep is yet another proof that we have the right products in the growing market for mobile users of laptop, Pocket-PC and Smartphones. The fact that Vollvik Invest, with their true market knowledge in the mobility sector, understand the value and potential in our technology, make their decision to invest very encouraging for us”, said Petri Markkanen, CEO of Birdstep Technology AS.
For further information please visit www.birdstep.com
About Birdstep (www.birdstep.com)
Birdstep Technology AS is a public company listed on the Oslo Stock Exchange (OSE) under ticker 'BIRD'. The company is headquartered in Oslo, Norway with three wholly owned subsidiaries, Birdstep AB in Sweden, Birdstep Technology Inc. in Seattle, US and Birdstep Technology Ltd in Cambridge, UK.
Birdstep Technology is a global software development, marketing and sales company offering seamless connectivity and mobility client software for mobile data users on laptops, pocket PC and Smartphones as well as state of the art embedded database technologies.
Birdstep has an installed base at more than 30 operators globally including T-mobile Group, Vodafone Group, Orange, TIM, Turkcell, TMN, Sprint, Telenor and TeliaSonera. The company also cooperates with global partners such as Nokia, SonyEricsson, Cisco, Ericsson, Nortel Networks, HP and Fujitsu Siemens Computers. In addition, Birdstep offers “SmartRoaming”, a hosted roaming service that provides mobility across networks for service providers and mobile network operators. For more information, visit www.smartroaming.com
Contact Information:
For further information please contact Terje Thon, Chairman of the Board at Birdstep
Tel: +47 917 44 000
Email: tthon@online.no
Or
Petri Markkanen, CEO at Birdstep
Tel: +46 (0) 703 23 33 22
Email:petri.markkanen@birdstep.com
Website: www.birdstep.com