Sybase Completes Acquisition of Extended Systems
26 Oktober 2005 - 11:00PM
PR Newswire (US)
Cash Transaction Valued at Approximately $71.3 Million DUBLIN,
Calif., Oct. 26 /PRNewswire-FirstCall/ -- Sybase, Inc. (NYSE:SY), a
leading provider of enterprise infrastructure and mobile software,
today announced the completion of its acquisition of Extended
Systems Incorporated (NASDAQ:XTND), a leading provider of mobile
software solutions, in a cash merger with a total diluted equity
value of approximately $71.3 million, or $4.460847 per share.
Founded in 1984, Extended Systems brings to Sybase its patented
mobile technology, approximately 2,500 global enterprise customers
and 2.5 million users. In addition, Extended Systems' mobile device
solutions, including Bluetooth(R) and infrared wireless
technologies, have been incorporated into over 400 distinct mobile
device designs by major global device manufacturers -- representing
millions of Extended Systems-enabled devices in the market.
Headquartered in Boise, Idaho, Extended Systems has 180 employees
in North America and Europe. "With the acquisition of Extended
Systems, Sybase's iAnywhere subsidiary gains a platform for
integrating its diverse product set, a deeper European presence and
a clear channel to device manufacturers for embedded software
sales," according to a recent Forrester report (Ellen Daley, Carl
Zetie and Benjamin Gray, Forrester Research, Aug. 3, 2005). All
transaction closing conditions have been satisfied. Sybase intends
to integrate Extended Systems into Sybase's iAnywhere subsidiary.
"This acquisition positions Sybase with a powerful, end-to-end
enterprise information mobility offering that, when combined with
our industry-leading mobile database and mobile device management
products, enables Sybase to deliver on the benefits of the Unwired
Enterprise," said Chairman, President, and CEO John Chen.
"iAnywhere and Extended Systems have built solid businesses by
listening to their customers and proactively addressing their
evolving requirements. Combining these two companies will give us
the opportunity to continue that progression by putting together
the strengths of our products and the expertise of our people,"
said Terry Stepien, president of iAnywhere. "iAnywhere is committed
to the success of our customers as we deliver the industry's
leading, most comprehensive mobile and embedded software solutions
available." About Sybase, Inc. Celebrating 20 years of innovation,
Sybase enables the Unwired Enterprise for customers and partners by
delivering enterprise and mobile solutions for information
management, development and integration. The world's most critical
data in commerce, communications, finance, government and
healthcare runs on Sybase. For more information, visit the Sybase
Web site: http://www.sybase.com/ . About Extended Systems Extended
Systems delivers success at the Point of Action. More than 2,500
companies worldwide use Extended Systems' frontline management
solution to keep information and applications current wherever
business takes place -- in retail stores and branch offices, at
customer sites, and in the field. With Extended Systems' software
solutions, business can see and direct its frontline activities, IT
can manage any platform in the field from a browser, and end users
can enjoy unparalleled reliability of the solutions on which they
depend. To deliver the total solution, Extended Systems partners
with global leaders such as Microsoft, HP, and Palm. As used in
this release, iAnywhere means iAnywhere Solutions, Inc., a
subsidiary of Sybase, Inc. iAnywhere, iAnywhere Solutions and
Sybase are registered trademarks of Sybase, Inc. or its
subsidiaries. The Bluetooth word mark and logos are owned by the
Bluetooth SIG, Inc. and any use of such marks by Extended Systems
is under license. Other trademarks and trade names are those of
their respective owners. (R) indicates registration in the United
States of America. All other company and product names mentioned
may be trademarks of the companies with which they are associated
FORWARD LOOKING STATEMENTS: Statements concerning the benefits of
Sybase's acquisition of Extended Systems, future growth, and
Sybase's plans following completion of the acquisition are by
nature "forward-looking statements" (within the meaning of the
Private Securities Litigation Reform Act of 1995) that involve a
number of uncertainties and risks and cannot be guaranteed. Factors
that could cause actual events or results to differ materially
include risks regarding employee relations, risks relating to
shifts in customer demand, rapid technological changes, competitive
factors and unanticipated delays in scheduled product availability
and other risks concerning Sybase, Extended Systems and their
respective operations, some of these risks are detailed in filings
with the SEC of Sybase, including its most recent filings on Form
10-K and Form 10-Q. DATASOURCE: Sybase, Inc. CONTACT: Financial
Inquiries, Lynne Farris, Investor Relations, +1-925-236-8797, or ,
or Press Inquiries, Heather Peterson, Public Relations,
+1-925-236-6517, or , both of Sybase, Inc.; or Eileen Conway of
Citigate Cunningham, +1-415-618-8738, or , for Sybase, Inc. Web
site: http://www.sybase.com/
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