Tranzeo Wireless Technologies Inc.
TSX : TZT

Tranzeo Wireless Technologies Inc.

January 24, 2007 14:13 ET

Tranzeo Wireless Agrees to Acquire Assets of Sensoria Corporation

PITT MEADOWS, BRITISH COLUMBIA--(CCNMatthews - Jan. 24, 2007) - Tranzeo Wireless Technologies Inc. ("Tranzeo") (TSX:TZT), an industry leader in designing, manufacturing and distributing high-speed wireless broadband communication systems globally, today announced that it has entered into an agreement to acquire the assets of Sensoria Corporation ("Sensoria") and has agreed to hire most of their employees (http://www.sensoria.com). Tranzeo will acquire the assets for a combination of cash and common shares, with the total value of the transaction being less than 5% of Tranzeo's current market capitalization and with the cash component comprised of the assumption of liabilities and cash payments that is valued at less than one-third of the share component. The shares issued will be subject to a contractual lock-up in addition to statutory hold periods whereby the shares will be released over a period of twelve months. The acquisition is subject to the approval of the TSX Toronto Stock Exchange. The TSX has provided preliminary approval to the transaction, subject to compliance with certain conditions on closing. The purchase is scheduled to close on January 31, 2007, subject to compliance by the parties with the terms of the purchase agreement. Ridgecrest Capital Partners has acted as Sensoria's exclusive financial advisor in this transaction.

Sensoria is a trusted expert in wireless mesh networks for broadband applications and has delivered wireless mesh solutions to mission critical environments for wireless commercial broadband, public safety and the military. Their family of wireless mesh network equipment and network management software is purposely designed for voice, video and data.

"Sensoria's mesh networking technology will allow Tranzeo immediate sales traction into a number of wireless vertical markets and give us the opportunity to leverage current contacts Sensoria have made in government and military sector," said Jim Tocher, President and CEO. "By combining Sensoria's robust self healing mesh technology and their portfolio of patents with our manufacturing and marketing expertise and world-wide sales channel gives Tranzeo a competitive advantage and a more complete set of solutions to offer our customers."

"The combination of Sensoria's EnRoute500 wireless mesh product family and Tranzeo's point to point broadband product family along with their strong sales channel creates a complete solution for mesh-based applications. We are excited to be a part of Tranzeo," said Dave Gelvin, former President and CEO of Sensoria Corporation.

About Sensoria Corporation: Founded in 1998, Sensoria is a pioneer and trusted expert in wireless mesh networks for broadband applications. With a rich history of serving military and homeland security markets, Sensoria has delivered mission critical wireless mesh solutions for over six years. Sensoria's most recent product family, targeted at the municipal market, leverages that experience and expertise, enabling the company to deliver the best price performance mesh networking solution on the market today. Sensoria's wireless mesh network equipment and network management software is designed specifically for the complexities of converged voice, video and data communications, with deployments within municipalities, campuses, public safety and the military. Sensoria is headquartered in San Diego, California.

About Tranzeo: Tranzeo Wireless Technologies Inc. (TSX:TZT) has emerged as an industry leader in designing, manufacturing and distributing high-speed wireless broadband communication systems globally. Our continued commitment to design excellence and years of experience provide our clients with industry-specific wireless Point-to-Point and Point to Multi-Point solutions.

We offer the most technically advanced wireless Broadband communication equipment available in the 900MHz, 2.4GHz, 3.5GHz, 4.9GHz, and 5.8GHz Wireless spectrums and employ direct sequence spread spectrum (DSSS) and Orthogonal Frequency Division Multiplexing (OFDM) technology for robust connectivity and long-range performance. Simplicity of use, ease of implementation and cost-effectiveness are the benefits of our solutions. Installation is quick and easy. Network Managers can easily connect office buildings, campuses and remote sites. The Wireless network is operational in a fraction of the time it takes to cable and install traditional wired networks and can be remotely monitored and configured from anywhere in the world. For more information on our wireless solutions, go to www.tranzeo.com.

Forward-Looking Statements

This press release may contain forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, revenues, and other expectations. These statements reflect our current expectations and are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in the wireless data communications market.

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