S3 and Psion PLC Partner for North American Markets
First North American Product Expected to Ship in October
SANTA CLARA, Calif.--(BUSINESS WIRE)--Sept. 14, 2000--S3® Incorporated (Nasdaq:SIII - news) announced today that is has signed a Memorandum of Understanding with Psion Computers PLC, a wholly owned subsidiary of Psion PLC (PON.L), to pursue both immediate and longer-term opportunities in the emerging communications/computing convergence markets. Leveraging their complementary technologies, brands and channel geographies, the companies have agreed to examine a range of opportunities, including technology cross-licensing and joint product marketing.
S3 and Psion anticipate that the first consumer product arising from this agreement will ship to North American markets in October for this year's holiday buying season. Further details regarding this product, as well as any other specific S3 and Psion initiatives, will be unveiled at its time of launch.
``Psion has tremendous strengths in handheld computing and wireless technology and we foresee these areas as being key to our long-term business strategy,'' said Ken Potashner, chairman and CEO of S3 Incorporated. ``With a first joint product expected to ship in October and several follow-up technology initiatives in discussion, we are broadly engaged with Psion and look forward to a productive and profitable partnership.''
``This partnership represents another important step in establishing Psion as a leading international mobile Internet company,'' said David Levin, CEO, Psion PLC. ``S3 is ideally positioned to capitalize on high-growth opportunities in the rapidly converging communication and computing device markets. There are great synergies between our two companies in terms of technologies, vision, channels and markets.''
About S3 Incorporated (www.S3.com)
A leader in the converging Internet, digital media and consumer device markets, S3 holds significant financial assets, global marketing capabilities and a focused technology portfolio, that includes Rio(TM) digital audio players, HomeFree(TM) home networking solutions, internet access products, and forthcoming information appliances.
About Psion PLC (www.psion.com)
The Psion Group comprises four divisions focused on providing mobile internet and corporate network solutions. Psion has a well-earned reputation for technology innovation and leadership. Psion was founded in 1980 by its chairman David Potter and is now one of Europe's leading technology companies with a history of pioneering new markets for digital products. Psion PLC has a worldwide distribution network comprising sales companies in the U.S., Germany and Holland, as well as more than 50 independent overseas distributors. Psion is also the largest shareholder in Symbian, a joint venture company owned by Psion, Ericsson, Motorola, Matsushita and Nokia. Symbian's objective is to develop and market its platform technology as the industry standard for the next generation of mobile communication and computing devices.
Except for historical information contained herein, the matters set forth in this press release, including statements relating to the first consumer product under the agreement and its expected introduction and shipping schedule, and the expectations for the relationship between Psion and S3, are forward-looking statements that are subject to risk and uncertainties, including the ability of S3 and Psion to work together to develop the initial consumer product, the ability of the parties to work together on additional initiatives, the impact of competitive products and pricing and of alternative technological advances, the ability of the parties to timely introduce jointly developed products that address market demands, and other risks detailed from time to time in S3's SEC reports, including its quarterly report on Form 10-Q for the quarter ended June 30, 2000. The S3 corporate logo and HomeFree are trademarks of S3 Incorporated. Rio is a trademark of RioPort.com, Inc. and is used by S3 under licenses from RioPort.com, Inc. Other marks referenced herein are the property of their respective owners.
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Contact:
S3 Incorporated
Paul Crossley, 408/588-8664
Pcross@S3.com
Tracy Perry
ir@S3.com, 408/588-8086
or
Psion PLC
Peter Bancroft, +44 20 73174150
peter.bancroft@psion.com
or
Brunswick
Craig Breheny, +44 20 74045959
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