FOR IMMEDIATE RELEASE: Attention technology/business editors
January 9, 2003 9:30AM
THE PINAX GROUP COMPLETES ACQUISITION OF CLIO® INTELLECTUAL PROPERTY FROM VADEM:
Addition of Clio intellectual property allows The Pinax Group to target Tablet PC opportunities
New Orleans, Louisiana - January 9, 2003 - The Pinax Group, Inc. announced today that it has completed the acquisition of the intellectual property related to its award-winning PC companion, the Clio®.
“With the completion of this acquisition from Vadem Ltd., The Pinax Group now owns of the most innovative and unique industrial design available in the mobile computer marketplace,” said William C. Perez, President of The Pinax Group. “We will continue to develop new products in our traditional Windows® CE thin-client market; however, we are also actively exploring opportunities that will introduce our design into the Tablet PC market, which we see as the next logical step in the Clio’s progression.”
“Presently, there is only one general design, which embodies a screen that rotates 180 degrees around a single, center pivot, being used by all of the commercially available convertible tablets,“ says Mr. Perez. “The Clio’s unique SwingTop® design, which has won numerous awards during the past five years, presents an immediate opportunity to introduce a product that is clearly differentiated, and we believe superior, from the current offering of convertible tablets.
” The Pinax Group, Inc. manufactures, sells, and supports the award-winning
handheld personal computer, Clio®, a three pound, 9” x 11”, convertible PC-like
device that is known for its versatility and portability. Its unique SwingTop® design
enables it to function either as a touch-screen tablet with handwriting recognition or as
a more traditional notebook with a nearly full-sized keyboard. Please visit www.pinaxgroup.com
Vadem Ltd. is a privately-held technology holding company and the original designer and manufacturer of the Clio®.
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
For more information, contact:
The Pinax Group, Inc.
650 Poydras Street, Suite 1476
New Orleans LA 70130
Main Phone: 504.299.3476
Main fax: 504.737.4749