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Technology Stocks : IDT *(idtc) following this new issue?* -- Ignore unavailable to you. Want to Upgrade?

To: Augustus Gloop who wrote (7593)	5/12/1999 10:08:00 AM
From: Sam	Respond to of 30916

I have no idea what Sendit AB's "Internet Cellular Smart Access (ICSA)" is, but it sounds like it might be relevant. Maybe not. Microsoft Bids For Sweden's Sendit STOCKHOLM, Sweden (Reuters) - Swedish mobile telephone and Internet technology company Sendit AB said Wednesday software giant Microsoft Corp. (Nasdaq:MSFT - news) was bidding $39 per share for it, valuing the Swedish company at $130 million. ''Sendit's board recommends all the shareholders in Sendit accept Microsoft's offer,'' Sendit said in a statement. The bid reflected a premium of about 41 percent compared with Sendit's most recent closing price of $27.62. It is listed on the SBI list of smaller Swedish companies. Microsoft had already received acceptance from shareholders controlling 42.9 percent of Sendit votes and capital. Sendit was founded in 1994 and its main product is Internet Cellular Smart Access (ICSA) which gives users access to the Internet and email through mobile telephones. Sendit works close to leading mobile phone makers around the world. The 100 or so Sendit employees will continue to work in Sweden, Sendit said. ''Behind the bid is the joint vision Microsoft and Sendit have when it comes to developments within the mobile market,'' Sendit said in a statement. Microsoft would continue to invest in market leading technology for mobile information which Sendit has developed, Sendit said.