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Woodland
Hills, Calif., August 28, 2000 – Vertel® (NASDAQ: VRTL), a leading provider of mediation software for telecommunications networks, today announced receipt of an agreement to purchase multiple developer licenses for its e*ORB core technology from one of the five largest U.S.-based wireless and optical network infrastructure equipment manufacturers. The customer is expected to make use of Vertel's advanced CORBA implementation as a key part of the network software development work underway on at least three different third generation wireless network infrastructure equipment projects that span the world.
"During a lengthy, six month-long competition, e*ORB successfully outperformed products from several other software developers in order to be selected for this important agreement -- in large part because our customer found Vertel's product to be substantially faster and technically superior to that of our nearest competitor," Cyrus D. Irani, president and CEO of Vertel, explained. "In coming to this agreement, our customer also applauded Vertel's technical support efforts during the evaluation phase and our ongoing commitment of support during their development phase.
"This agreement represents a major milestone for Vertel in the adoption of e*ORB in the wireless network infrastructure development space," Irani added.
While Vertel expects to receive some revenues in the current quarter of this year as a result of this agreement, the company has the potential to realize much greater revenues in the form of run-time royalties upon successful future deployment of products containing e*ORB -- at some subsequent date that cannot yet be determined by either party.
About e*ORB
e*ORB is the first mediation software product of its kind to combine the interoperability of the Common Object Request Broker Architecture (CORBA) -- one of the most widely deployed middleware frameworks in enterprise computing -- with the performance, reliability and scalability required to develop and deploy integrated voice/data/video services over optical, IP and wireless networks. Key benefits of that combination include a level of high performance that allows for real-time processing, a low memory footprint that makes it ideal for the kind of smaller CPUs increasingly used in handheld and other mobile devices, support for multiple communications protocols and portability across many operating environments.
About Vertel
Vertel is a leading provider of mediation software for telecommunications networks, enabling a variety of devices such as mobile devices to become an integral, intelligent part of a company's network topology. Vertel's pioneering mediation software, e*ORB(TM), continues to be adopted by top telecommunications, e-business, and manufacturing companies. Vertel offers a variety of technologies and applications, supporting end-to-end network and service management with the highest quality of service for network operations.
Vertel solutions are deployed worldwide by service providers, network operators, software vendors, and systems integrators. Vertel also develops turnkey management applications that fit individual customer requirements through its Professional Services Unit. The company is based in Woodland Hills, Calif., and has sales offices throughout the world.
For more information on Vertel or its products, contact Vertel at 21300 Victory Boulevard, Suite 700, Woodland Hills, Calif. 91367; telephone: (818) 227-1400; fax: (818) 598-0047 or visit the Vertel Web site at
http://www.vertel.com.
Safe Harbor Statement: Except for the historical information presented, the matters discussed in this news release are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements should be evaluated together with the many risks and uncertainties that affect our business and may cause results to differ materially from those set forth in the statements. These include, but are not limited to: timely and successful introduction and customer acceptance of new and enhanced products, services and technologies in existing and new markets; the possibility that delays or difficulties will arise in implementing complex products, services and technologies and enabling them to work successfully with other complex products and technologies; the possible development and introduction of competitive products, services and new and alternative technologies; governmental and regulatory developments affecting Vertel and its customers; the ability to retain and attract key personnel; and other risks and uncertainties detailed from time to time in Vertel's periodic and other reports filed with the U.S. Securities and Exchange Commission (SEC) by Vertel, including, but not limited to, the Annual Report on Form 10-K for the year ended December 31, 1999, and the Quarterly Report on Form 10-Q for the quarters ending March 31 and June 30, 2000. Vertel undertakes no obligation to correct inadvertent or intentional miscommunication by members of the media of the company's formal or informal statements to the media or to update forward-looking statements made in this release to reflect events or circumstances after the date of this statement.
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