for inclusion on
The shares will be purchased with funds from reserves allocated to cash flow and acquisitions subsequent to the flotation of RTX Telecom on the Copenhagen Stock Exchange in June 2000.
LitePoint Corporation specialises in wireless chip technologies, and the technical staff have long-standing, comprehensive experience relating to the development and delivery of Intellectual Property within wireless technologies that include Wideband Code Division Multiple-Access (WCDMA), GSMGPRS, IEEE802.11 a/b and BluetoothTM. The company currently has exceptional expertise in the fields of component specifications and chip architecture, and LitePoint Corporations activities primarily involve assignments relating to RF architecture and RF chip design.
LitePoint Corporation is a growth-oriented company that is planning to establish an additional wireless chip design centre in San Diego, California, in the course of 2002. The activities there will include the design, architecture and development of chips for use in wireless applications.
The company was set up in May 2000 by three engineers - Benny Madsen (PhD), Christian Ølgaard (PhD) and Spiros Bouas. Benny Madsen is now the chief executive of LitePoint Corporation.
LitePoint Corporation has represented RTX Telecom in conjunction with a number of sales assignments since September 2001, as part of an agreement intended to boost the RTX Telecom sales effort and to take full advantage of the growth potential in the American market.
RTX Telecom also views this investment as meaning potential marketing opportunities for the companys existing technology platforms, including IEEE802.11a/b, GSM/GPRS and BluetoothTM. These stem from the fact that RTX Telecom will be able to extend its business network in Silicon Valley and in the San Diego area via its involvement with LitePoint Corporation.
It is expected that RTX Telecom and LitePoint Corporation will be able to bring about significant synergies, not least as regards technologies that require a high degree of professional competence, and in terms of marketing.
Any profit or loss stemming from the price of the shares, whether realised or not, will be included in the profit and loss statement under the items Financial income or Financial expenses. Any dividend on the shares will be entered as income under the item Financial income in the financial year in which the dividend was declared.
Expectations regarding earnings
LitePoint Corporation will undertake an extension of the companys marketing and technology competencies, including the setting up of a new wireless chip design centre. LitePoint Corporation is expected to reach profitability no later than 2004.
Implementation of the agreement