Intellisync Corporation announced today that Intellisync has signed a definitive agreement to be acquired by Nokia. Under the terms of the agreement, Intellisync stockholders will receive USD 5.25 per share in cash for each Intellisync common share, implying an enterprise value of approximately USD 430 million dollars.
This acquisition, which is subject to customary regulatory approvals and the approval of Intellisync’s shareholders, underscores Intellisync’s position in the mobile industry and its leadership in the carrier and enterprise markets in providing multi-device, multi-platform wireless software, mobile applications and synchronization. The acquisition of Intellisync supports Nokia’s goal to be the leader in enterprise mobility and enhances the ability of its customers to connect devices to data sources, applications and networks.
"This agreement recognizes the key roles that Intellisync and our people play in the mobile market, and reflects the power of our brand, our products, our team and our technology," said Woodson ‘Woody’ Hobbs, president and chief executive officer of Intellisync. "Our combined teams will present the most compelling mobility offering to enterprises and carriers all over the world. With a platform-independent and device-agnostic mobile software offering, Intellisync has long been committed to delivering on the mobility needs of wireless carriers and enterprises, and we’ve built a leadership brand in the mobile marketplace. Intellisync’s market leadership in platform-independent push email, device and systems management, mobile application deployment, integrated messaging, data and file synchronization, and mobile security is validation of the company’s success with carriers and enterprise customers alike."
The acquisition is expected to be completed within three to four months, pending regulatory approval, other customary closing conditions and the approval of Intellisync’s shareholders.
Evercore Partners acted as financial advisors to Intellisync in this transaction.
This acquisition, which is subject to customary regulatory approvals and the approval of Intellisync’s shareholders, underscores Intellisync’s position in the mobile industry and its leadership in the carrier and enterprise markets in providing multi-device, multi-platform wireless software, mobile applications and synchronization. The acquisition of Intellisync supports Nokia’s goal to be the leader in enterprise mobility and enhances the ability of its customers to connect devices to data sources, applications and networks.
"This agreement recognizes the key roles that Intellisync and our people play in the mobile market, and reflects the power of our brand, our products, our team and our technology," said Woodson ‘Woody’ Hobbs, president and chief executive officer of Intellisync. "Our combined teams will present the most compelling mobility offering to enterprises and carriers all over the world. With a platform-independent and device-agnostic mobile software offering, Intellisync has long been committed to delivering on the mobility needs of wireless carriers and enterprises, and we’ve built a leadership brand in the mobile marketplace. Intellisync’s market leadership in platform-independent push email, device and systems management, mobile application deployment, integrated messaging, data and file synchronization, and mobile security is validation of the company’s success with carriers and enterprise customers alike."
The acquisition is expected to be completed within three to four months, pending regulatory approval, other customary closing conditions and the approval of Intellisync’s shareholders.
Evercore Partners acted as financial advisors to Intellisync in this transaction.