November 13, 2001
Telvent Interactiva Becomes VAR of ViryaNet Solutions
Alliance Extends ViryaNet's Reach into Spain, Portugal, and Latin America
Southborough, Mass. - November 13, 2001 -ViryaNet (NASDAQ: VRYA), a leading provider of solutions for wireless field service automation, today announced that Telvent Interactiva has become a value added reseller (VAR) of ViryaNet solutions. Telvent Interactiva will offer ViryaNet's solutions to the utilities marketplace in Spain, Portugal, and Latin America. Telvent Interactiva is a wholly owned subsidiary of Abengoa, and part of its Information Technology group, Telvent (www.telvent.com).
"The agreement with ViryaNet enables Telvent Interactiva to provide service organizations in the Iberian Peninsula and Latin America with powerful tools that include workforce management, supply chain, contracts, and logistics," said Adolfo Borrero, CEO, Telvent Interactiva. "ViryaNet's offerings are a logical complement to the technology and services that Telvent Interactiva supplies."
"ViryaNet is dedicated to providing its customers around the world with quality solutions and the highest standards for integration, installation, and support," said Win Burke, president and CEO, ViryaNet. "Through alliances with leading companies like Telvent Interactiva, we can extend our reach to customers in new geographic locations, and enhance our infrastructure and ability to support those customers."
About Telvent Interactiva
Telvent Interactiva, a subsidiary of Abengoa, focuses on IP architectures, middleware, and serves as an Application Service Provider (ASP). The company commenced operations in 2000 with the creation of three competency centers in different technological areas:
-The Java Business Center for Java technology transfer in cooperation with Sun Microsystems
ViryaNet is a provider of solutions for wireless field service automation.
The award-winning ViryaNet Service Hub combines the power of the Internet, the freedom of wireless technologies, and the resources of ViryaNet's deep service expertise to help companies improve workforce scheduling, dispatching, and activity reporting; customer contract and entitlement automation; and logistics and repairs management.
Customers in the telecommunications, manufacturing, utilities, third-party maintenance, and other industries use ViryaNet Service Hub to transition complex service business processes into a manageable, scalable Internet operation, with the goal of increasing service revenues, decreasing service costs, and maximizing customer satisfaction.
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, including statements regarding ViryaNet's expectations, beliefs, intentions, or strategies regarding the capabilities of its products, its relationships with its customers, its customer purchases, its future operational plans and objectives, its future business prospects, its future financial performance, and its future prospects for profitability. All forward-looking statements included in this document are based upon information available to ViryaNet Inc. as of the date hereof, and ViryaNet Inc. assumes no obligation to update any such forward-looking statements. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. These and other risks relating to ViryaNet's business include market acceptance of and demand for the Company's products, risks associated with a slow-down in the economy, risks associated with the events associated with the September 11, 2001 terror attacks in the USA, risks associated with competition and competitive pricing pressures, risks associated with increases in costs and operating expenses, risks in technology development and commercialization, the risk of operating losses, risks in product development, risks associated with international sales, and other risks that are set forth in ViryaNet's Form F-1, as amended, declared effective by the SEC on September 19, 2000, and the other reports filed from time to time with the Securities and Exchange Commission. Reported results should not be considered an indication of future performance. You should not place undue reliance on these forward-looking statements, which speak only as the date hereof. ViryaNet disclaims any obligation to publicly update or revise any such forward-looking statements to reflect any change in our expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
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