Milestone completes transaction with JumpStart ...
Milestone Group plc
("Milestone" or "the Group")
Milestone completes transaction with JumpStart Wireless
Milestone Group plc today announces that it has entered into an
agreement (the "Agreement") with privately owned JumpStart Wireless
Corporation ("JumpStart"), an enterprise wireless software company
founded in 2000, based in Florida, USA.
Under the terms of the Agreement Milestone has obtained the right to
sell patented and patent pending technologies of Jumpstart in the UK.
The board of Milestone believe that this is a much valued addition to
the Group's newly unveiled suite of technologies/capabilities. In
addition to obtaining the rights to sell JumpStart technologies in
the UK, Milestone also purchased shares in JumpStart.
JumpStart's technology saves clients significant costs in the field
by cutting down on paperwork and seamlessly coordinating wireless
devices and business software applications by leveraging artificial
intelligence technology. JumpStart has a strong track record in the
US, already working with enterprise software partners such as Sage,
Primavera and SAP, reaching 25 million mobile workers through these
networks alone.
JumpStart's clients in the US include such companies as a Fortune 500
service organization, large auto manufacturer and many companies in
construction and field services and it is upon these foundations that
Milestone hope to build a new sales platform in the UK. Commenting on
the Agreement, Milestone CEO, Deborah White, said; "JumpStart's
product is ideally positioned to thrive in the current economic
climate, significantly reducing the time and costs involved in
communicating with staff on the move."
Wireless expert Dr. Marios Gerogiokas has been appointed to direct
the wireless sales and operations for Milestone. He brings with him
25 years of experience in the field of telecommunications, most
recently gathered during the evaluation of Broadband Internet
solutions for rural areas in Africa and the Middle East.
Mr Gerogiokas' will cover a broad programme of business development,
with a competitive pricing model and an understanding of its appeal
to business software users in the region. He will also dovetail with
Milestone's in-house creative, sales and marketing team to identify,
approve and manage new client opportunities for JumpStart's patented
technology in the UK.
Dr. Jeff Bonar, Founder and CEO of Jumpstart Wireless, commented "We
are delighted that Milestone will be representing our technologies in
the UK. Milestone is a great JV partner for JumpStart's unique
approach to enterprise software mobility. Combining with Milestone
will deliver mobile solutions to UK customers."
Milestone will be offering JumpStart technologies in the market
place, contracting sales and using the support and development
services of Jumpstart to implement new programs, "There is no doubt
that our current offerings together with this new product suite sets
us apart from our competitors and we expect to see positive impacts
on our share price as a result of the revenues derived from this
relationship." Deborah White, Milestone CEO.
Milestone has also purchased Common Stock in JumpStart ("JS Shares")
with a total subscription value of $100,001, (approximately £60,000)
taking a minority position not greater than 3%.
Under the terms of the Agreement Milestone will receive a significant
percentage of the gross revenue from all sales that it makes in the
UK. Milestone has an added incentive in that in addition to the cash
reward for the sales it makes; it could also receive an equity award
of JS Shares, provided that it has reached certain performance
metrics.
FOR FURTHER INFORMATION:
Milestone Group plc
Deborah White, Chief Executive Officer Tel: 020 7929 7826
Arden Partners plc
Richard Day / Adrian Trimmings Tel: 020 7398 1632
For more information about JumpStart Wireless go to:
www.jumpstartwireless.com
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