By Justin Madubuko, 24 September 2001 17:10
NEWS Providers of location-based services (LBS) and technologies Webraska and AirFlash have merged to create a global leader in LBS applications and application development offerings. Once rivals, Webraska and AirFlash have come together in a deal reported to be worth E20m (£12m), in an all paper deal. The combined entity will be known as Webraska, which will provide software offerings to develop location-based applications for telecommunications and automotive customers. By coming together the companies have a greater chance of surviving the bleak conditions of the weakening technology market, which has already seen the closure of UK-based wireless service provider Civista. Webraska focuses on navigation systems, providing traffic maps on a GSM telephone screen using WAP, while AirFlash concentrates on related applications. Jean-Michel Durocher, CEO of Webraska, said in a statement: "We expect our customers to continue to make investment in infrastructure and applications that allow their users to stay in touch with co-workers, friends and family." Subject to regulatory approval in California and France, both boards of directors have collectively approved the agreement. Webraska shareholders will own 87 per cent of the merged company and AirFlash shareholders 13 per cent.
In order to post a comment you need to be registered and logged in.
Log in or create your silicon.com account below