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SmartMove NV Acquires Information Technology Center (ITC)

30 May 2000

SmartMove NV Acquires Information Technology Center (ITC)

    CAMBRIDGE, Mass., May 30 SmartMove NV, a Belgium-based
high-technology vehicle telematics company, has announced the acquisition of
the Belgian software developer Information Technology Center.  The acquisition
is part of SmartMove's plan to advance its growth strategy for European and
U.S. automotive markets.  SmartMove obtained 100 percent of ITC shares and
will integrate the company's engineering staff with its own engineering teams
in Belgium and Cambridge, Mass. in the United States.
    ITC brings outstanding software development and project management
expertise, having served primarily the telecommunications industry.  Its
client base includes UPC, RSLCom, Lucent Spain, KPN Belgium, Alcatel
Microelectronics, Siemens Atea, Telenet and Philips Eindhoven.
    According to Steven Buytaert, co-CEO of SmartMove, "The acquisition of ITC
offers SmartMove not only an additional number of highly skilled technicians,
but also proven experience in business development and project management."
    A leader in developing a JAVA-based, third-generation open intelligent
vehicle platform, SmartMove promises to transform the industry by providing a
common platform to enable communications between virtually any service
provider and all hardware and software applications in a vehicle.  This would
allow vehicle manufacturers and service providers to bring forth a host of
services and information to motorists sooner than previously expected.
    SmartMove NV was founded in 1996 and received funding from several
European venture capitalists.  SmartMove holds several international patents
in the field of vehicle telematics, and employs 70 people, most of them
engineers.  Based in Leuven, Belgium, the company's U.S. subsidiary, SmartMove
USA, is located in Cambridge, Mass.