Vancouver, BC, September 1, 2004 – WaveSoft Technologies Corp. (WaveSoft) announced today that it has completed its acquisition of wireless intellectual property assets, trademarks and the product development division, of CompuWave Technologies Inc., a privately held world leading wireless Point-of-Sale system developer for the hospitality industry.

 WaveSoft is poised to take advantage of the coming widespread adoption of wireless mobile technologies in the vertical market. While wireless technologies are commonly known to have revolutionized the general consumer experience in communications, there is a substantial opportunity to apply wireless enabled mobile applications to industry-specific problems. The company believes that the latest technology can contribute directly to the bottom line of a variety of industries. This belief has already been validated with many recent successful wireless implementations around the world. The acquisition complements WaveSoft’s ongoing business strategy to offer mission critical, server independent mobile applications for different solution partners.

CompuWave’s core competency is in innovative wireless technologies and its early market entry. CompuWave is one of the earliest Microsoft Windows Mobiles system developer since 1996. The company launched the world’s first PocketPC based handheld POS system in 1998. Its wireless products are currently used by more than 100 companies worldwide in different languages and interfaces. The customers and partners include NEC, Symbol technology, Squirrel Systems, Tracrite Software, Singapore Ireland Country Club (SICC), Gino and HardRock Café.

The software acquired by WaveSoft includes wBox handheld system, a true native PocketPC based wireless restaurant solution currently at version6; and CompuWave Wireless Server (CWS), a Win2000/XP based communication/transaction middleware server specifically designed to optimize the wireless application framework and to provide seamless third party system integration. CompuWave product lines will be re-branded under the WaveSoft umbrella. While maintaining the same open system architecture, the existing technologies will continue to be supported and enhanced by WaveSoft.

The acquisition offers significant value to WaveSoft. Firstly, it allows the company to develop superior self-contained native PocketPC applications (i.e., briefcase modeling) through well established software component libraries and data driven analytical approach, resulting in a dramatic reduction of a front-end interface development cycle and an off-line capable system. Secondly, the middleware offers a scalable 3-tier wireless application framework with proven efficiency and reliability. The middleware resolves critical real-time reliability and security issues of wireless communication, and provides comprehensive connectivity options through industry standard protocols such as XML, WiFi, BlueTooth and GPRS.

The acquisition allows WaveSoft to increase the availability of wireless technologies to meet the highest demand of different solution providers from different industries, and underscores our commitment for the open connectivity and integration needs of today’s growing global markets.

For questions, comments, or feedback, please e-mail info@wavesoft.ca

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