GOWEX reaches an agreement with Eastern Fibernet, and expands its presence in China and Asia
Sep 12, 2013
OTC Disclosure News Service
Madrid, Spain
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GOWEX reaches
an agreement with Eastern Fibernet, and expands its presence in China and Asia
?
GOWEX strengthens its presence in China by
forming a strategic alliance with a local partner
?
Eastern Fibernet, a leading
telecommunications company in Asia, to be GOWEX?s new partner in order to become
one of the main wireless providers in China
Madrid, September the 12th
2013. GOWEX (GOW-MAB,
ALGOW-NYSE Alternext, LGWXY-OTC Market), a leading company in the creation of
Wireless Smart Cities? and smart Wi-Fi in transport, announces
its agreement with Eastern Fibernet, a leading telecommunications and
Internet access provider which has a predominant presence on the Asian market, as
a result of projects with the Chinese
Administration and agreements with large companies.
The alliance with Eastern Fibernet is very important for GOWEX because it
facilitates growth via a number of projects, which is beneficial for both
compaies.
?The alliance with Eastern Fibernet will help us to increase the speed
with which we reach agreements with Chinese local Administrations, an important
part of GOWEX?s worldwide leadership strategy, and will help us achieve our
target of reaching 300 cities around the world?, said Jenaro Garc?a, GOWEX?s
CEO.
Eastern Fibernet, a Business to Business carrier for companies and local
authorities, is GOWEX?s solution for delivering Wireless Internet and
intelligent services, creating one of the main wireless providers in Guandong?s province (reaching more than 120 million
inhabitants) and, by extension, in China.
According to the agreement, Eastern Fibernet will allow GOWEX to access
the network through its advertisement platforms, users and roaming
management.
GOWEX Asia
The agreement forms part of GOWEX?s strategy of reaching 300 main
cities around the world: consolidating the Company?s presence in the Asian
market, helping to obtain more projects in the Asia-Pacific area and making
deployments in an agile way.
This growth model relies on
agreements with leading local companies which are operating in areas with
strong synergies for GOWEX. A similar agreement has been reached between GOWEX
and Atlanteam in France and Bluwireless in Italy.
Eastern
Fibernet
Eastern Fibernet has a predominant position in Southeast Asia due to the
close proximity to Hong Kong, Macao and the rapid growth in that region over last
years. Its headquarters are in the Chinese province Guandong, which has 21
prefectures and 120 million inhabitants. Eastern Fibernet has been one of the
main companies in charge of deploying fiber optics, connectivity services and internet
access, working together with the Chinese public administration and large international
companies
About GOWEX (GOW-MAB,
ALGOW-NYSE Alternext, LGWXY-OTC Market)
GOWEX
has operated in the telecommunications sector for 14 years. It is currently
leading the creation of “Wi-Fi Smart Cities,” which offers free and
premium Wi-Fi connectivity on the street and in means of public transportation.
The company is now exporting its innovative business models to more than 70
cities in the world, thanks to different agreements with Public
Administrations, Franchise stores, Associations and Transport companies.
In all its
WiFi cities, GOWEX works to create Wireless Smart Cities ? (WiFi Smart Cities)
that could offer free wireless Internet to all the citizens and that could
improve the services given through wireless connectivity: online meter reading,
traffic light control, public transport fleet management, video surveillance
and so on.
In 2010, GOWEX
became the first and only Spanish SMB to make a “dual listing,”
publicly traded in MAB (GOW) and Nyse-Alternext (ALGOW). The
company’s total revenue amounted to ?114,1 million in 2012. On December 2012, GOWEX subscribed a ?18
million capital, adding 1,528,404 new common shares to the market. In February,
2012, the SEC approved the emission of ADR’s program (American Depositary
Receipt) allowing to the Group to be quoted equally in the USA on the market
OTCQX.
With offices
in Madrid, Paris, Dubai, London, Buenos Aires, Shanghai and Costa Rica, GOWEX
develops a sustainable business model in its Wi-Fi networks, based on the
efficient and technical quality of their patented platforms: the Roaming
Platform, which allows users to connect freely in all the cities, and the
Geolocation Content and Advertisement Platform, which provides financing
business through marketing and advertisement agreements.
In 2011, GOWEX joined the ?Wireless
Broadband Alliance?
and received a prize for the ?Best Web Company? on Internet.
In February 2012, Jenaro Garc?a GOWEX CEO received the
?Entrepreneur of the Year Award? by Ernst Young in the category of
“Innovation?.
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GOWEX reaches an agreement with Eastern Fibernet, and expands its presence in China and Asia
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Article source: http://www.otcmarkets.com/stock/LGWXY/news?id=68386
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