Option Seeks Fresh Funds, Unveils CloudGate

Option looks for a cash injection of at least €5M, introduces non-scandalous 3G M2M gateway

October 10, 2012

1 Min Read

LEUVEN, Belgium -- Option (EURONEXT: OPTI; OTC: OPNVY), a global player in wireless connectivity, security and experience, today announces that the Board of Directors is looking at different options to strengthen its working capital via a cash injection of a minimum amount of 5 million euro before year end, in order to secure the prospect of regaining profitability and sustainable growth in the near term.

The Company continues to be faced with the risks and uncertainties described in the interim financial report of the Board of Directors for the first six months of 2012. Since then, the cash position of the Company has been further impacted by the build-up of inventory and the longer sales cycles for the new products.Option continues to look at reducing its cost-base by further rightsizing its operations and focusing its sales and marketing efforts in a very dynamic market environment.

In a separate release:

LEUVEN, Belgium -- Option (EURONEXT: OPTI; OTC: OPNVY), a global leader in wireless connectivity, security and experience, today announces CloudGate - a secure, reliable and affordable 3G M2M gateway that brings new levels of flexibility and ease of deployment for M2M solutions in the US market.

At launch, CloudGate delivers secure and reliable LAN to 3G routing in a robust, compact, form factor that is compatible with all GSM and CDMA US mobile networks in a single product. CloudGate can adapt to system integrator and customer needs through its innovative cloud provisioning service and unique hardware flexibility. CloudGate enables system integrators and M2M middleware vendors to automatically deploy their solutions onto customer's units when targeting specialized vertical markets.

Option NV (Euronext: OPTI; Nasdaq Europe: OPIN)

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