New Funding Package to Accelerate the Global Marketing Of Arcus Software's Innovative 3D Map Solutions

Three-dimensional Navigation Solutions For Mobile Devices New Funding Package to Accelerate the Global Marketing Of Arcus Software's Innovative 3D Map Solutions Helsinki, Finland - June 6, 2001 - Arcus Software, a Finnish high-tech company focused on three-dimensional mapping technology, today announced a funding package that allows the company to strengthen the international sales and marketing of its advanced 3D map technology. With the new equity, Arcus Software will continue to build new 3D navigation solutions and expand its business to 2-3 locations outside Finland. The investment is provided by Elisa Communications Group (HEX: ELIAV), a leading Finnish telecommunications operator, and Comptel Corporation (HEX: CTL), a leading provider of Mediation Device Solutions for telecommunications operators with more than 170 customers on all continents. The investing companies now hold 26.56 per cent each of Arcus Software shares. As a result, Arcus Software became a subsidiary of Elisa Communications Group. "The new equity investment from our existing shareholders is a significant sign of trust and belief in our business model. The funding enables us to both increase our international sales and marketing efforts and to continue strong research and development in personal navigation solutions", said Akif Ali, President and CEO, Arcus Software. Currently, maps are among the most employed Internet content services, with an estimate of 10 million pages of maps being printed out each day by regular business travelers. Arcus Software's MobileGuide delivers maps upon a request straight onto the screen of user's mobile device, thus replacing the need to print out maps beforehand using a PC. MobileGuide solution is based on illustrative and easy to operate 3D mapping technology. It can be utilized e.g. in guiding visitors to find the company building in big cities, in locating parking space or in navigation purposes when using public transportation. For long-distance visitors MobileGuide shows hotels located nearby and gives route instructions from the hotel to the main entrance of the hosting company. MobileGuide map is received in the mobile device either as a series of still pictures or - as technology develops - as a streaming video clip. The user sees the landscape and nearby buildings on the wireless device's screen from a pedestrian perspective, along with verbal instructions guiding to the right direction. About Arcus Software Arcus Software produces 3D maps for web browsers and wireless devices and develops software solutions for 3D mapping process. The company currently employs 25 staff in Helsinki and Kajaani, Finland. Established in 1996 and having built several 3D virtual cities, the company made a strategic decision in spring 2000 to focus on 3D navigation applications for third generation mobile technology. In addition to its founders, active management and private investors, Arcus Software owners include Finnish telecom companies Elisa Communications Corporation and Comptel Plc. Additional information about Arcus Software: http://www.arcussoft.com, http://www.perille.net Virtual Cities available in the internet: http://www.stadi3d.com, http://www.virtualkainuu.net, Contact: Mr. Akif Ali, President and CEO, Arcus Software Oy Email akif.ali@arcussoft.com Tel. +358 9 5306 2514, GSM +358 500 446 158 Press Contact: Ms Christina Forsgard, NetProfile Finland Oy Email christina@netprofile.fi Tel. +358 9 6812 080, GSM +358 40 571 9192 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.bit.se/bitonline/2001/06/06/20010606BIT00830/bit0002.doc http://www.bit.se/bitonline/2001/06/06/20010606BIT00830/bit0002.pdf

Subscribe