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The most notable and crowning achievement of ikonnect in 2007 pertains to the advisory services delivered to two of our big Clients namely Orascom Telecom and TheWayOut.

In the final quarter of 2007, iKonnect successfully concluded a deal between TheWayOut and Orascom Telecom, where by the latter divested from its wireless operation that tackled, cafes, restaurants and clubs, to Orascom Telecom that sought to expand its footing in this sector by gaining the overwhelming majority share of the Hotspot public market.

TheWayOut divesture was a strategic move that aimed to focus the company's effort on its turnkey Hospitality based multimedia solutions, its core business. The public hotspot operation was a drain on technical and financial resources of the company as the service was delivered free of charge to the customers.

On the other hand, Orascom Telecom sought to dominate the public hotspot market and change the operation of the service from its current free access based service to a quality based paid service. The transfer from a "free" to a "paid" service in the public hotspot market would have proven to be quiet difficult without the conclusion of this deal.

Accordingly, the conclusion of the deal resulted in a win-win situation for both of our Clients.

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