13 December 1998
Qvadis Completes Transition

Toronto, ON - 13 December 1998 - Qvadis Corporation has completed the asset transfer from handheld systems developer Peregryn Systems, including all intellectual property, technology and trademarks.

Peregryn Systems began in 1997 with a focus on interactive entertainment and console software development, centering on the Sony Net Yaroze program. At around the same time, reported sales of Palm Computing's PalmPilot connected organizer were beginning to take off, and it soon became clear that the handheld market had the potential to become one of the most exciting consumer markets since the personal computer or the cellular phone.

Recognizing this, in early 1998, Peregryn began laying the foundation for its transformation into Qvadis, with a new focus on developing enterprise and personal productivity tools for the new handheld platforms. According to Dr. Sam Peralta, formerly Managing Director of Peregryn Systems, "We are entering a new phase in the evolution of computing, the transition from desktop to ubiquitous computing. Handhelds are only the beginning."

Dr. Peralta will become President and CEO of Qvadis Corporation, which will be based in Mississauga, Ontario, Canada.

About Qvadis

Qvadis Corporation is a leading Internet-based provider of mobility solutions for handheld computers and personal digital assistants. Qvadis' Pocket Ready™ line of enterprise and personal productivity tools enables desktop extension and document delivery for PDAs such as 3Com's Palm connected organizers and Windows CE palm-sized computers.

 
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