Watershed deal positions Innovada for exciting growth in 2006

$Multi-million deal with a tier-1, blue-chip meter manufacturer in North America recognises Innovada's market-leading wireless device connectivity, Automated Meter Reading, and M2M expertise

Dublin, Ireland - 25 Jan 2006. Innovada, the device connectivity company, today announces the successful winning of a new deal with a tier-1 meter manufacturer in North America. The blue-chip manufacturer, a market-leading industry player and household name whose details cannot be disclosed for reasons of commercial confidence, will source a range of wireless automated meter reading (AMR) products from Innovada, based on a combination of Innovada's wireless device connectivity and machine-to-machine (M2M) technologies.

Confirming Innovada's status as a leading supplier of M2M and wireless sensor networking (WSN) solutions, particularly in the AMR market segment, the deal entails the design and supply of both GSM/GPRS and CDMA/1xRTT wireless AMR devices over the coming years. Incorporating digital cellular technology in 'under-the-cover' designs for a range of polyphase electricity revenue meters that are typically deployed by the world's biggest utilities in commercial and industrial environments, the Innovada AMR products facilitate demand and supply management, and support improved quality of service, reduced losses, and increased reliability.

"This deal is a ringing endorsement of Innovada's visionary and strategically driven new range of wireless device connectivity and machine-to-machine (M2M) technologies," said Ben Hurley, CEO of Innovada. "Having refocused on wireless, AMR and M2M products, this market win presents Innovada with considerable revenue expansion, and exciting opportunity for further growth," concluded Hurley.

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About Innovada

Innovada is a world-class innovator of wireless and wired device communications solutions for global markets. Innovada's solutions are used and deployed by some of the world's largest utilities. Innovada is the communications provider of choice to the market leader in polyphase electricity metering. Innovada has unique technology and expertise targeted at the fast-growing market for devices that communicate information, including among others applications such as automated meter reading (AMR), wireless sensor networks (WSN), machine-to-machine communications (M2M), and point-of-sale terminals (POS).

Innovada's wireless AMR solutions are unique in their breadth of wireless technologies, including GSM/GPRS, CDMA/1xRTT, and license-free ISM band solutions. Innovada's wireless platforms uniquely combine customer domain knowledge, communications flexibility, and cost-effectiveness in experience-determined packages. Innovada's unique, proprietary modem offering is the simplest and most cost-effective fixed-line modem solution for embedded applications in global markets.

Innovada sells its product solutions directly to global OEMs and other companies active in utility metering, point-of-sale terminals, machine-to-machine applications, set-top-boxes, security panels and other verticals, and through partnerships with global leading RISC microprocessor brands.