Wavecom awarded "Le Trophée de la Décennie 2003" by Bain & Company

Award marks decade-long Wavecom success story.
Issy-les-Moulineaux, France-June 12, 2003

Wavecom SA (Nasdaq WVCM  Euronext Nouveau Marché 7306) was yesterday awarded "Le Trophée de la Décennie 2003" by strategy consultancy Bain & Cie, in partnership with the HEC group, l'Expansion, and Coface Scrl. The trophy is awarded each year in recognition of outstanding success by a company founded ten years earlier in France.

Wavecom was founded in 1993 by three young engineers from Matra Communication. It has achieved exceptional growth over its first ten years in business, with revenues increasing from 2.2 million euros in 1994 to 551.1 million euros in 2002, imposing its own business model in the telecom industry with a programme based on universal access to wireless communication. Wavecom today is one of the world’s leading providers of integrated technology solutions for wireless applications.

From 1993 to 1996, Wavecom operated primarily as an engineering consultancy offering custom product development work. Then in 1996, the company realized there was a market opening for an integrated GSM module that would be a standard device in mobile phone and other wireless telecommunication applications. This was a major break with the classic business model prevalent in the mobile telephony sector, with each individual mobile phone manufacturer designing its own products from scratch. Wavecom would harness its considerable engineering expertise to develop the WISMO module, which was released in January 1997.

Wavecom today offers a full suite of complete hardware and software solutions that enable users to develop their own wireless communication applications, in mobile telephony and other, emerging, wireless markets that Wavecom helped to develop: wireless PDAs and laptops, automotive applications and machine-to-machine (M2M) communication. Wavecom has sold over 15 million WISMO modules worldwide, and is the leading supplier of GSM modules to Chinese mobile phone manufacturers.

Commenting on the recent award, Wavecom CEO Aram Hékimian said: "The entire Wavecom team is very proud to see formal recognition for the hard work of our personnel and the performance of our company over the last ten years. Wavecom invented the business model that is recognized by all market players today, proving that a French company could not only innovate but also rise to prominence on the world wireless telecommunication market. Work is in progress on many other innovative projects, and we expect sustained growth on all wireless markets."