Synchrologic, Inc. to Merge with Pumatech, Inc.
$60 million transaction cements position as leading enterprise mobile infrastructure provider
September 17, 2003 - Synchrologic has entered into a definitive agreement to be acquired by Pumatech, Inc. (NASDAQ: PUMA). Pumatech's acquisition of Synchrologic sets the de facto technology standard for enterprise mobility and brings additional resources for continued investment in its enterprise product line.
Synchrologic products will serve as Pumatech's enterprise solution and is considered the 'crown jewel' of Pumatech's committed leadership strategy. Pumatech believes the acquisition of Synchrologic will enhance Pumatech's enterprise offerings, while also serving to bolster the company's position. Synchrologic customers will enjoy the same level of service and attention from their account team while gaining access to more products and services.
"We believe Synchrologic's employees, customers and partners will all derive significant benefits from this acquisition," explained Said Mohammadioun, CEO and chairman of Synchrologic. "By combining Synchrologic's products and customers with Pumatech's extensive product portfolio and widespread customer reach, we believe we've created an industry-leading organization that gives corporations the tools to provide mobile workers with access to mission-critical information from any mobile device."
"We expect to be able to provide our customers with an important technology platform intended to expand the role of synchronization for mobile users and enterprise applications." said Woodson (Woody) Hobbs, president and CEO of Pumatech. "We believe Synchrologic has a strong enterprise mobile solution and that Pumatech has the resources to exploit it. We also believe the technology from both companies, combined with Pumatech's broad distribution channels, will create a new and lasting de facto standard for the deployment and utilization of this important technology. We look forward to integrating our respective companies to meet our customers' needs, and to welcoming members of the Synchrologic customer and employee family to Pumatech."
The acquisition has been approved by the boards of directors of both companies. Completion of the transaction is subject to approval by the shareholders of Pumatech and Synchrologic, as well as customary regulatory approvals and other typical post-signing conditions. Pumatech and Synchrologic anticipate completion of the transaction by the end of the calendar year.
A licensing agreement signed by both companies will enable Pumatech to market and sell Synchrologic's Mobile Suite platform as Pumatech's server-based synchronization solution for enterprise customers prior to the completion of the transaction.
About Synchrologic
Synchrologic's mobile infrastructure solutions create competitive advantage by increasing mobile worker productivity and decreasing total cost of ownership of mobile devices. The company's product line mobilizes enterprise email and applications, automates the delivery of documents and Web sites, and provides mobile systems management tools -- for laptops, tablets, handhelds, and smart phones. Key customers and partners include 3M, Accenture, Citicorp, Domino's, Hertz, Nintendo, Microsoft, NEC, Pfizer, Symbian, T-Mobile and Verizon Wireless. The company is privately held with headquarters in Atlanta, Ga., and European offices in London and Milan. For more information, please visit synchrologic.com.
About Pumatech
Pumatech, Inc. (NASDAQ: PUMA) provides organizations with a comprehensive suite of software products and services that synchronizes and distributes critical information throughout the enterprise. Organizations can choose to use Pumatech's ready-made enterprise offerings, or they can leverage Pumatech's professional services team to create custom solutions built upon Pumatech's core enterprise platform. Pumatech's customer and strategic partner base includes Global 2000 companies such as Microsoft, Oracle, PeopleSoft, America Online, Yahoo!, NTT DoCoMo, Eastman Kodak and IBM. The Company has headquarters in Silicon Valley and offices in Amsterdam, Munich, Tokyo and London. Pumatech offers more information on its products and services at www.pumatech.com.
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Copyright © 2003 Synchrologic, Inc. Synchrologic is a trademark of Synchrologic, Inc. Product names mentioned herein may be trademarks and/or registered trademarks of their respective companies. Pumatech, the Pumatech logo and Satellite Forms are trademarks of Pumatech, Inc., that may be registered in certain jurisdictions. All other product and company names may be trademarks of their respective owners.
For more information, contact:
Claire Grevas
Synchrologic
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