Agile Advises Infowave Software (TSE:IW) on Acquisition of Hiddenmind Technology, LLC

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Vancouver, British Columbia
July 7, 2003

Infowave Software (TSE: IW), a provider of wireless software for mobile professionals, corporations, and network operators announced today:

  • completion of the acquisition of HiddenMind Technology, LLC (“HiddenMind”);
  • completion of the US$3.0 million private placement of units to Gerald Trooien; and
  • the appointment of Bill Weiss of The Promar Group to its board of directors.

Each of these transactions was previously announced and was approved at Infowave’s Annual General Meeting on June 30, 2003.

“On the heels of our recent successes with worldwide carriers and the well received launch of Symmetry Express with T-Mobile International in Europe, we have significantly strengthened the company’s financial position and expanded our technology offering,” remarked George Reznik, Chief Financial Officer and member of the Office of the President at Infowave. “The acquisition of HiddenMind improves our mobile solution offering, by combining best-in-class products that expand our ability to tap into a wider market and represents a significant progression in Infowave’s corporate growth strategy, as we build a world-class technology company.”

Under the terms of the transactions with HiddenMind and Gerald Trooien, Mr. Trooien was entitled upon closing to appoint a nominee to the Infowave board of directors and his appointee is William C. Weiss. Mr. Weiss is Chairman and CEO of The Promar Group, a global strategic business advisory firm he co-founded in 1973 that provides companies such as IBM, General Electric, Toshiba, Ericsson, Qualcomm, and Steelcase with guidance on how to embrace change, leverage technology, and create new business possibilities. Mr. Weiss has an established international reputation as a visionary business strategist and is a special advisor to leadership teams, boards of directors, and investors worldwide.

“Together Infowave and HiddenMind bring industry-leading wireless expertise to offer enterprises a complete real-time mobile infrastructure, far beyond just e-mail and PIM functionality,” said Thomas Koll, Infowave Chairman. “Shipments of smart mobile devices have overtaken those of PC desktops, and this will be the driving force for mobilizing the enterprise. Also, I am extremely pleased to welcome Mr. Weiss to Infowave’s Board of Directors, as he brings more than twenty years business experience to our team. His participation on Infowave’s board adds a sharp new element of business insight and leadership that will help us to deliver on our corporate goals and objectives.”

Mr. Weiss is also a partner in Quantum Capital Management, a venture capital firm for early-stage, business-to-business technology companies. He is a former partner and current advisor to IdeaEdge Ventures, which is focused on running and growing mobile Internet properties worldwide. He serves on the board of directors of New Directions for News, a think-tank organization involved with key media corporations that promotes innovation at the intersection of enabling technologies and media. In addition, Mr. Weiss is a member of the Strategic Advisory Board of the Computer Science department of North Carolina State University.

“I am pleased to join and collaborate with the board at Infowave,” remarked Weiss. “I believe there is a worldwide opportunity for the adoption of mobile data solutions and look forward to working with the Infowave management team to plan and execute on business strategies that will establish Infowave as a leader in the mobile marketplace.”

Mr. Weiss joins other members of Infowave’s board, currently comprised of:

  • Thomas Koll – Chairman, former CEO of Infowave and former VP of Network Solutions Group at Microsoft;
  • Jim McIntosh – Founder and former President and CEO of Infowave;
  • Stephen Wu – Founder and Managing Director of Alliance MG and former senior management at Microsoft;
  • Lew Turnquist – President of Grey King Endeavours Inc and former COO of Cell-Loc Inc.;
  • Jean-Francois Heitz – Retiring Deputy Chief Financial Officer of Microsoft; and
  • Jerry Meerkatz – Former VP and GM of Enterprise Mobility Solutions for Hewlett Packard.

 About HiddenMind

HiddenMind Technology, LLC is a provider of products and services that enable enterprises by simplifying the process of achieving mobile workflow, using mobility to achieve true, real time enterprise, and returning ROI by quickly implementing right-sized mobile solutions. HiddenMind’s patented Active Technology mobilizes applications and web services in an offline and online environment, while saving time and product development costs over other approaches. End users of Active Technology Enhancedâ„¢ products benefit from “always active” applications that are optimized for maximum productivity and reliable communications over a wide array of networks and devices. For more information please visit www.hiddenmind.com.

About Infowave Software Infowave (TSE: IW) builds innovative wireless business solutions for mobile operators, corporations, and individuals that connect people to the critical information they need to be more productive and competitive. The Infowave Symmetry suite of wireless e-mail solutions enables mobile users to instantly access their corporate and personal e-mail on a variety of Pocket PC, Symbian, Smartphone, or Palm integrated devices. For mobile operators, Infowave offers the Symmetry Mobile Application Gateway – a wireless services platform that provides mobile operators with the opportunity to capitalize on offering wireless data access to their subscribers. The Infowave Wireless Business Engine provides companies with a single wireless software platform for fast, secure, and reliable wireless access to e-mail, the Internet, corporate intranets and client-server applications. For more information, please visit www.infowave.com.