TrueTime Strengthens International Presence and Signs Macnica
to Distribute Network Time Servers in Japan
Business Editors and High-Tech Writers
SANTA ROSA, Calif.--(BUSINESS WIRE)--June 19, 2002--TrueTime Inc. (NASDAQ:TRUE), a leading provider of precision time and frequency products, today announced that it has signed an exclusive distribution agreement with Macnica Networks Company, (a division company of MACNICA Inc.) to sell and distribute TrueTime's precision Network Time Servers in Japan.
Macnica, located in Yokahama City, is a leading distributor of information technology in Japan. Under the terms of the agreement, Macnica will sell TrueTime's NTS-150 and NTS-200 Network Time Servers and related accessories into the second largest networking market in the world.
"The technological investments that support the IT revolution and Internet infrastructure in Japan are increasing rapidly and it is becoming an important opportunity. To this end, we see a strong demand in Japan for mission-critical data networks to be properly time synchronized," stated Shoichi Teshiba, director of marketing of Macnica Networks Company. "Time synchronization of the enterprise and IP networks plays a key role in addressing issues relating to network infrastructure and various application problems in the area of transaction processing, digital authentication, email systems, and other critical networked applications. The growing importance of eCommerce, eGovernment initiatives, financial transactions, and electronic legal document applications are increasing the importance of synchronized time-of-day on the Internet Protocol network. We look forward to offering the `complete network timing solution' to our customers here in Japan."
"We are very committed to expanding our international presence. Working closely with Macnica will be instrumental to our success in Japan," stated TrueTime's vice president of sales and marketing, John Hirsekorn. "As an `intelligent technology company' that is moving into new, high value-added markets, we are very excited to have Macnica recommend our proven network timing solutions for demanding enterprise network systems."
For more information on TrueTime and its innovative timing and synchronization solutions, visit the TrueTime Web site at www.truetime.net.
Established in 1972, Macnica sells over 50,000 various electronic components and network hardware and software solutions. Priding itself as the "Intelligent Technology Company," Macnica is on the forefront of some of the world's finest technology. Employing more than 660 employees, Macnica carries products in the IC and electronic device segment including components essential to communication infrastructures as well as network solutions including bandwidth management systems for electronic commerce sites and more.
TrueTime Inc. designs, develops, manufactures and markets precision time and frequency products that are essential components used by many technology based markets to provide greater accuracy and resolution than can be obtained from conventional timing devices. TrueTime Inc. is traded on the NASDAQ National Market System under the symbol "TRUE." TrueTime's Web site is http://www.truetime.com.
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21 E of the Securities Exchange Act of 1934. All statements other than statements of historical fact included herein, including statements regarding potential future products and markets, the company's future financial position, business strategy and other plans and objectives for future operations, are forward-looking statements. Additional important factors that could cause actual results to differ materially from the company's expectations are disclosed in the company's Form 10-K for the year ended Sept. 30, 2001 and in quarterly reports in form 10-Q on file with the SEC, under the heading "Risk Factors" and elsewhere. In particular, without exclusion of other risks, the success of our business involves the risks of successful strategic agreements and entrance into new market segments, technological changes, strong competition and dependence on component suppliers, government spending and the general growth and success of the industries and customers we serve. Further, all written and verbal forward-looking statements attributable to the company or persons acting on its behalf are expressly qualified in their entirety by such factors.