It's over! The End!
Nokia Completes Acquisition of Intellisync
Friday February 10, 8:56 am ET
Company Committed to Maintaining Support for Synchronization and Mobile Connectivity to Applications on Non-Nokia Devices and Multiple Device Platforms Like Palm OS and Windows Mobile
NEW YORK, February 10 /PRNewswire-FirstCall/ -- Nokia (NYSE: NOK - News) today announced it has completed its acquisition of Intellisync, a leader in platform-independent wireless messaging and applications for mobile devices. As a result of the acquisition, Intellisync common stock is no longer publicly traded and each share of Intellisync common stock has been converted into the right to receive $5.25 in cash.
The transaction will enhance Nokia's ability to respond to customer needs and effectively puts Nokia at the core of any mobility solution for businesses of all sizes. Intellisync's entire product range will continue to be sold under the Intellisync name as part of Nokia's business mobility solutions software business line within its Enterprise Solutions business group.
"This acquisition puts Nokia in an unparalleled position in the business mobility market," said Mary McDowell, executive vice president and general manager, Nokia's Enterprise Solutions business group. "By combining the existing Nokia offerings with the leading software, synchronization and device management solutions from Intellisync, we are able to connect practically any device built on any platform, to any data source, application or network."
"Broad connectivity and application support for a multitude of device manufacturers and platforms is absolutely critical to the uptake of mobility in the business world," continued McDowell. "The reality is that employees use a variety of devices and applications today, and many companies are challenged to provide those employees with the ability to connect to corporate information and applications like email. We know that we can drive the development of the market by continuing to work closely with our partners and redefine the way people and businesses communicate."
With the completion of this acquisition, the Intellisync team becomes part of Nokia's Enterprise Solutions business group, led by Mary McDowell, executive vice president and general manager.
About Nokia
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.
It should be noted that certain statements herein which are not historical facts, including, without limitation, those regarding: A) the timing of product and solution deliveries; B) our ability to develop, implement and commercialize new products, solutions and technologies; C) expectations regarding market growth, developments and structural changes; D) expectations regarding our mobile device volume growth, market share and prices, E) expectations and targets for our results of operations; F) the outcome of pending and threatened litigation; and G) statements preceded by "believe," "expect," "anticipate," "foresee," "target," "designed" or similar expressions are forward-looking statements. Because these statements involve risks and uncertainties, actual results may differ materially from the results that we currently expect. Factors that could cause these differences include, but are not limited to: 1) the extent of the growth of the mobile communications industry and the new market segments in which we have recently invested; 2) price erosion and cost management; 3) timing and success of the introduction and roll-out of new products and solutions; 4) competitiveness of our product portfolio; 5) our failure to identify key market trends and to respond timely and successfully to the needs of our customers; 6) the impact of changes in technology and the success of our product and solution development; 7) the intensity of competition in the mobility industry and changes in the competitive landscape; 8) our ability to control the variety of factors affecting our ability to reach our targets and give accurate forecasts; 9) the availability of new products and services by network operators and other market participants; 10) general economic conditions globally and in our most important markets; 11) our success in maintaining efficient manufacturing and logistics as well as the high quality of our products and solutions; 12) inventory management risks and ramping up or down production at our facilities, which result from shifts in market demand; 13) our ability to source quality components without interruption and at acceptable prices; 14) our success in collaboration arrangements relating to technologies, software or new products and solutions; 15) the success, financial condition, and performance of our collaboration partners, suppliers and customers; 16) any disruption to information technology systems and networks that our operations rely on; 17) our ability to have access to the complex technology involving patents and other intellectual property rights included in our products and solutions at commercially acceptable terms and without infringing any protected intellectual property rights; 18) our ability to recruit, retain and develop appropriately skilled employees; 19) developments under large, multi-year contracts or in relation to major customers; 20) exchange rate fluctuations, including, in particular, fluctuations between the euro, which is our reporting currency, and the US dollar, the UK pound sterling and the Japanese yen; 21) the management of our customer financing exposure; and 22) the impact of changes in government policies, laws or regulations; as well as 23) the risk factors specified on pages 12-22 of the company's Form 20-F for the year ended December 31, 2004 under "Item 3.D Risk Factors."
www.nokia.com
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