Nokia (NYSE: NOK) and Intellisync (NASDAQ: SYNC) today announced they have signed a definitive agreement for Nokia to acquire Intellisync, a leader in platform-independent wireless messaging and applications for mobile devices
NOKIA PRESS RELEASE November 16, 2005
Nokia to extend leadership in enterprise mobility with acquisition of Intellisync
Combined product portfolios will provide more choice for carriers and businesses
New York, USA – Nokia (NYSE: NOK) and Intellisync (NASDAQ: SYNC) today announced they have signed a definitive agreement for Nokia to acquire Intellisync, a leader in platform-independent wireless messaging and applications for mobile devices. By acquiring Intellisync, Nokia is positioned to deliver the industry’s most complete offering for the development, deployment and management of mobility in the enterprise.
The transaction will also enhance Nokia’s ability to respond to customer needs in this fast growing market. The combination of Nokia’s security expertise, mobile device leadership, customer reach and partner relationships coupled with Intellisync’s proven wireless email, synchronization and device management software and skilled workforce is expected to significantly extend Nokia’s position within the enterprise mobility market.
"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 delivers some of the largest deployments of wireless email over the widest array of devices and application platforms across carrier networks all over the world. The company has been at the forefront in enterprise mobility applications and device mobility with its wireless messaging software. Intellisync technology allows for synchronization of data and files with high levels of accuracy and security across complex software applications. Building on Nokia’s recent launch of Nokia Business Center, a software solution enabling push email and other collaborative business applications, this acquisition underscores the company’s commitment to be the leader in enterprise mobility. Nokia will be able to offer its customers the ability to connect practically any device to any data source, application, or network, empowering companies as they make mobility a defacto way of doing business.
"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 USD 5.25 per share in cash for each Intellisync common share, implying an enterprise value of approximately USD 430 million or approximately EUR 368 million (on a fully-diluted basis). The transaction is expected to be completed in the first quarter of 2006. Intellisync was founded in 1993 and has approximately 450 employees.
Intellisync Corporation (NASDAQ: SYNC), the leader in platform-independent wireless messaging and mobile software, develops and markets carrier-grade and enterprise-class wireless email and mobile platforms to large enterprises, mobile operators, software providers and device manufacturers. Intellisync has won the mobility industry’s top awards by providing seamless synchronization, secure wireless email, device control and mobility management software that connects nearly every device, data source and application available. More than 75% of the Fortune 50 companies and over 35 wireless carriers worldwide are ‘Powered by Intellisync'(TM). Some of the largest global corporations that have selected Intellisync as their mobility solution standard, include America Online, Cr?dit Agricole, Domino’s Pizza, Guidant, Microsoft, NTT DoCoMo, Oracle | PeopleSoft, Pfizer, Target, T-Mobile, Union Pacific, Verizon Wireless, Vivo, Wind and Yahoo! For more information, please visit www.Intellisync.com
Nokia is a world leader in mobile communications, driving the growth and sustainability of the broader mobility industry. Nokia connects people to each other and the information that matters to them with easy-to-use and innovative products like mobile phones, devices and solutions for imaging, games, media and businesses. Nokia provides equipment, solutions and services for network operators and corporations. www.nokia.com.