Posted on 17-Nov-2005 09:01.
Filed under: News
Nokia and Intellisync have signed a definitive agreement for Nokia to acquire Intellisync, developer of platform-independent wireless messaging and applications for mobile devices.
Nokia expects to move to a better position to deliver a complete offering for the development, deployment and management of mobility in the enterprise.
"Enterprises face increasing challenges when it comes to selecting devices, enabling access to email and securing corporate data, while carriers are facing more and more complexity to support these demands. We want to make it simple for our business customers to mobilize their workforces no matter what their starting point," said Mary McDowell, executive vice president and general manager, Nokia's Enterprise Solutions business group. "Based on our customers' needs, we identified the acquisition of Intellisync as the best way to provide solutions to these challenges. The combination of our portfolios and the addition of the Intellisync team will make Nokia the core mobility provider for businesses of all sizes."
Intellisync technology allows for synchronization of data and files across complex software applications.
The company expects to be be able to offer its customers the ability to connect practically any device to any data source, application, or network.
"Our combined teams will present the most compelling mobility offering to enterprises and carriers all over the world," said Woodson 'Woody' Hobbs, president and chief executive officer of Intellisync. "With a platform-independent and device-agnostic mobile software offering, Intellisync has long been committed to delivering on the mobility needs of wireless carriers and enterprises and we've built a leadership brand in the mobile marketplace. Intellisync's market leadership in platform-independent push email, device and systems management, mobile application deployment, integrated messaging, data and file synchronization, and mobile security is validation of the company's success with carriers and enterprise customers alike."
Under the terms of the agreement, Intellisync stockholders will receive US$5.25 per share in cash for each Intellisync common share, implying an enterprise value of approximately US$430 million or approximately EUR368 million. The transaction is expected to be completed in the first quarter of 2006.