Wednesday April 25, 4:05 pm ET
SANTA MONICA, Calif., April 25 /PRNewswire-FirstCall/ -- METASwarm Holdings, Inc. (Pink Sheets: MSWM -News) today announced that it will open an office in Beijing to spearhead the Company's business efforts in China. The 15,000 sq. ft. office will be in Beijing's "Silicon Valley", the Zhong Guan Cun area, and is expected to open by mid-May 2007.
Meeting the Demand from China's Cell Phone Market
Currently, China has the largest number of mobile handset subscribers in the world. According to CCID Consulting Company Limited, between 1998 and 2006, the number of mobile handset subscribers in the PRC increased rapidly from approximately 24.98 million to approximately 443 million, representing a compound annual growth rate of approximately 37.64% which is highest as compared with the U.S., Western Europe and Japan. China's 443 million cellular customers represent a penetration rate of only 30%, compared with the roughly 70% rate of the U.S., and the more than 90% penetration rate of Western Europe. The Beijing office of METASwarm will be positioned to meet the demand of this enormous existing and potential cell phone subscriber market.
The Beijing office's main directive is to roll out large-scale marketing and sales of METASwarm's core technology, the Hyperswarm Engine, as well as related applications aimed at wireless/mobile and internet communication market in China; to establish a technical support center and a software development base in the region for future applications based on the Hyperswarm Engine.
About METASwarm Holdings, Inc.
METASwarm Holdings, Inc. is headquartered in California and is focused in the information technology industry. METASwarm specializes in personal and commercial information assurance solutions, including anti-fraud, anti-spam, and relationship analysis solutions for the Internet e-commerce markets. Specifically, METASwarm products provide applications for message management, message and website validation, and message and website analysis for email, cell phone text messaging (SMS), instant messaging (IM), and web pages.
Safe Harbor Statement Under The Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Act of 1995. Forward- looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. These risks and uncertainties are described in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectation
Source: METASwarm Holdings, Inc.