Monday, January 30, 2006

Company Mating News

Innova Holdings Signs Letter of Agreement to Acquire CoroWare

FORT MYERS, FL – January 25, 2006 – Innova Holdings, Inc. (IVHG:OTCBB) today announced that it has signed a letter of agreement with CoroWare, Inc. (Bellevue, WA) under which Innova Holdings will acquire all of the assets of CoroWare, including the newly formed CoroWare Test Labs subsidiary.

CoroWare is the only mobile service robotics company to join the Microsoft ® Windows Embedded Partner Program. CoroWare uses the Windows XP Embedded operating system to power its mobile service robots, which are based on de facto standards, off-the-shelf hardware and proven software.

“The U.S. Government has appropriated $33 billion to develop an unmanned fighting force. The goal is to convert 30 percent of its fighting force to unmanned systems by 2010. We believe robotics will play a key role in future armament and guidance systems for this unmanned force,” explained Walter Weisel, Chairman and CEO of Innova Holdings, Inc. “CoroWare has demonstrated the development and integration expertise necessary to tie together mobile and embedded systems for such advanced robotics applications employing the latest in software platforms.”

“This acquisition will benefit the Innova Holdings subsidiaries, Robotic Workspace Technologies (RWT™) and Innova Robotics, as we team to advance robotic technologies, applications, and product offerings,” Weisel concludes.

Innova Holdings - Bridging Innovative Technologies

Coroware press release


Anonymous Anonymous said...

Unfortunately, the service robots get slower and slower as they acquire WeatherBug, AIM clients, casino pop-up windows and then grind to a halt after about 6 months.

10:37 PM, January 30, 2006  

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