Verizon Wireless And Novatel Wireless Ink Deal For 3rd Generation PC Cards Supporting Verizon Wireless' $1 Billion EV-DO Expansion
SAN DIEGO, CALIFORNIA & BEDMINSTER, NJ - February 10, 2004 - Novatel Wireless, Inc. (Nasdaq: NVTL), a leading provider of 2.5 and 3G wireless data access solutions, and Verizon Wireless, the nation's leading wireless service provider, today said that they have signed an agreement positioning Novatel Wireless to be a key long-term volume supplier of EV-DO PC cards to provide connectivity to the Verizon Wireless BroadbandAccess high-speed data network. BroadbandAccess, which runs on Evolution-Data Optimized (EV-DO) technology, is currently available in the Washington, D.C. and San Diego areas.
In early January 2004, Verizon Wireless announced it is working to expand BroadbandAccess service nationally, with a significant deployment by the end of this summer and a phased roll-out through 2005. With typical speeds of 300-500 kilobits per second, BroadbandAccess is the fastest commercial wide-area wireless data technology available today in the United States.
The Novatel Wireless EV-DO PC card, powered by Novatel Wireless MobiLink software, will function with Verizon Wireless' BroadbandAccess EV-DO wide area wireless data service and be offered to individual and enterprise customers.
"We are excited about Verizon Wireless' commitment to EV-DO expansion and pleased they have chosen us in offering nationwide wireless broadband service to the mass market," said Peter Leparulo, chief executive officer for Novatel Wireless. "This supply agreement and the addition of our EV-DO PC card solidly establish us in the North American and European markets with compelling high-speed mobile solutions for both personal and business users."
ABOUT VERIZON WIRELESS
Verizon Wireless is the nation's leading provider of wireless communications. The company has the largest nationwide wireless voice and data network and 37.5 million customers. Headquartered in Bedminster, NJ, Verizon Wireless is a joint venture of Verizon Communications (NYSE:VZ) and Vodafone (NYSE and LSE: VOD). Find more information on the Web at www.verizonwireless.com. To receive broadcast-quality video footage of Verizon Wireless operations, log onto www.thenewsmarket.com.
ABOUT NOVATEL WIRELESS, INC.
Novatel Wireless, Inc. is a global leader in the design and development of wireless modems, software and custom engineering for use in mobile computing devices. Novatel Wireless Merlin PC Cards, Expedite Embedded Modems, and Freedom Box Ruggedized Modems enable high-speed wireless access to personal, corporate and public information via portable computers, handheld devices and vertical market applications. The company delivers innovative 2.5G and 3G solutions to operators, distributors and vertical markets worldwide. Headquartered in San Diego, California, Novatel Wireless is listed on Nasdaq: NVTL.
© 2004 Novatel Wireless. All rights reserved. The Novatel Wireless logo, Merlin, Expedite and MobiLink are trademarks of Novatel Wireless, Inc. All other brands, products and company names mentioned herein are trademarks of their respective holders.
This release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, as amended to date. These forward-looking statements involve risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements contained herein. These factors include risks relating to technological changes, continued acceptance of and market demand for Novatel Wireless' products, projections of future results and dependence on intellectual property rights. These factors, as well as other factors that could cause actual results to differ materially, are discussed in more detail in Novatel Wireless' filings with the United States Securities and Exchange Commission (available at www.sec.gov) and other regulatory agencies.