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[ 07/23/2010 ] POS-X Acquires Mobile POS Hardware Division

POS-X Acquires Mobile POS Hardware Division

Bellingham, WA (July 22, 2010) - POS-X, a leading supplier of performance Point of Sale Hardware Solutions, today announced that it has reached an agreement in principle to acquire the North American mobile hardware division of WaveSoft, currently branded WavePOS. Winner of the Innovative Solution Award by Retail Solutions Provider Association in 2009, WaveSoft is a leading provider of mobile POS and payment solutions. POS-X will take over all sales, distribution and development of WavePOS mobile hardware and provide technical and commercial support.

Established in 1996, WaveSoft develops mobile point-of-sale applications and 3-tier wireless system interfaces. With POS-X's manufacturing expertise and WaveSoft's state of the art mobile software applications, both parties will continue to work closely to develop complete mobile POS solutions. "The acquisition of WaveSoft's hardware division is a significant milestone for POS-X, and provides an exciting opportunity to expand our product line into mobile POS," says Dan Moseley, President and CEO of POS-X, Inc. "The addition of a mobile computer and future mobile peripherals strongly complement our current complete line of core point of sales hardware."

With the WavePOS POS234 Windows CE mobile handheld ready for major distribution, POS-X is set to bring to market their first mobile POS solution in Q3 of 2010. While initially keeping the WavePOS brand name, POS-X also plans to introduce future mobile POS hardware under their familiar POS-X branding. "The new partnership with POS-X allows WaveSoft to concentrate on our goal of developing industry- leading mobile POS software applications" said Wilson Chao, President and CEO of WaveSoft Technologies corp. ”POS-X is the perfect partner for us as they bring a high level of product development expertise and the necessary level of support our customers require."

About WavePOS
WaveSoft Technologies Corp, founded in Vancouver, Canada in 1996, is poised to take advantage of the coming widespread adoption of open wireless 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 applications to address industry- specific issues. The company believes that the latest technology can contribute directly to the bottom line of a variety of industries.