Acquisition Will Make Sybase the Number One Provider of Mobile
Messaging and Content Delivery DUBLIN, Calif., Sept. 5
/PRNewswire-FirstCall/ -- Sybase, Inc. (NYSE:SY), a leading
provider of enterprise infrastructure and mobile software, today
announced that it has signed a definitive agreement to acquire
Mobile 365, the global leader in mobile messaging and content
delivery, in an all cash transaction. The purchase price set forth
in the definitive agreement is $425 million, which is subject to
adjustment based on Mobile 365's working capital as of the closing
date. Net of acquired cash, the transaction is valued at
approximately $400 million. The transaction is expected to close in
the fourth quarter of 2006, subject to regulatory approvals and
other specified closing conditions. Headquartered in Chantilly,
Virginia, Mobile 365 is privately held and backed by leading
venture capital firms including Draper Fisher Jurvetson, Draper
Atlantic Venture, 3i Technology Partners, Institutional Venture
Partners, and Mayfield. For its fiscal year ended March 31, 2006,
Mobile 365 generated approximately $90 million in revenue. Sybase
expects the acquisition to be accretive to pro forma earnings
within 12 months following the close of the transaction. Mobile 365
delivers mobile data and messaging, premium content, and value-
added services for the leading mobile operators, content providers,
global brands, media companies, and financial institutions
worldwide. The company's core products and services include
interoperability services, interactive services, and distribution
services. Mobile 365 is the global leader in mobile
interoperability messaging, including SMS, WAP, MMS, and Instant
Messaging. At the core of its offering is an operator-grade network
that is the most extensive, private network for mobile messaging
available. Mobile 365 delivers more than 3 billion messages per
month and has approximately 700 connections into mobile operators
around the world, including Verizon Wireless, Vodafone, T-Mobile,
Cingular, Telefonica, and China Mobile. Through this extensive
network of carriers and unmatched global footprint, Mobile 365 also
enables the world's leading content providers, media companies, and
global brands to mobilize their content and applications, such as
voting, live event contests, broadcasts, and mobile alerts, to
consumers around the globe. Companies like Citibank, Yahoo!, MSN,
AOL, and Sony Pictures use Mobile 365's platform to ensure messages
and marketing campaigns are successfully delivered and related
revenue is quickly processed. "This acquisition extends our Unwired
Enterprise vision with the addition of two new enterprise channels
-- wireless carriers and content providers -- making Sybase the
leading mobile enterprise software and services provider in the
world," said John Chen, Sybase chairman, CEO and president. "The
mobile messaging market in the U.S. alone is expected to grow to
$7.5 billion by 2008. Getting closer to this exploding mobile
market through carriers is a key extension of our Unwired
Enterprise strategy. Mobile 365 brings unparalleled breadth and
depth of carrier relationships and the largest mobile messaging and
content delivery platform, solidly positioning Sybase between
carriers, global brands and mobile content." "Given Sybase's
leadership in enterprise mobility, this acquisition is a perfect
fit. With Mobile 365's technology, Sybase can now deliver any
mobile message or application to any handset -- anytime, anywhere,"
said Mike Daniels, Mobile 365 executive chairman. "We are pleased
to provide Sybase an extensive carrier channel with connections
into approximately 700 operators, a portfolio of leading financial,
media and entertainment customers, and new opportunities to
leverage its AvantGo(R) and mFolio(TM) services as well as its data
analytics capabilities to meet customer demand for more robust
analytics of wireless data traffic." Following the closing of the
transaction, Mobile 365 will operate as Sybase Mobile 365, a
wholly-owned subsidiary. The new subsidiary will be led by Marty
Beard, Sybase's senior vice president of corporate development and
marketing, who will be named president of Sybase Mobile 365.
"Through our combined footprint, products, operator-grade network,
and content and application delivery infrastructure, the
acquisition of Mobile 365 extends our reach into mobile enterprise
customers worldwide by augmenting our current direct and indirect
channels with an extensive carrier channel and robust ASP delivery
platform," said Beard. Investor Conference Call and Webcast
Information Investors are invited to listen to a live audio Webcast
with Sybase chairman, CEO and President John Chen and CFO Pieter
Van der Vorst to discuss the agreement to acquire Mobile 365. The
call and simultaneous Webcast is scheduled to begin at 5:30 a.m.,
Pacific Time/8:30 a.m. Eastern Time, on Wednesday, September 6,
2006. To access the live Webcast, please visit
http://www.fulldisclosure.com/ or Sybase's Website at
http://www.sybase.com/ at least 20 minutes prior to the call to
download any necessary audio or plug-in software. A telephone
replay will be available approximately two hours after the
conference call ends and will be available until 10:00 p.m. Pacific
Time on September 13, 2006. To access the replay, please dial (888)
203-1112 for domestic access and +1 719 457 0820 for international
callers; the access code for the telephone replay is #5585480.
Additionally, the archived Webcast will be available through
October 7, 2006 at
http://www.sybase.com/about_sybase/investorrelations . About Mobile
365 Delivering 3.5 billion messages per month, Mobile 365 leads the
world in the global delivery and settlement of mobile messaging and
data services, including SMS, MMS, and WAP. With reach to nearly
700 mobile operators around the world, Mobile 365 is at the
forefront of mobile interoperability messaging and the distribution
of premium content and value-added services. Headquartered outside
of Washington, D.C., Mobile 365 has offices in Beijing, Guangzhou,
Hamburg, Hong Kong, Johannesburg, Kuala Lumpur, London, Madrid,
Mexico City, Milan, New Delhi, Paris, San Francisco, Shanghai,
Singapore, Sydney, and Taipei. Major operator customers include
Verizon Wireless, Vodafone, Cingular Wireless, T-Mobile, Telcel,
Orange, Telefonica, O2, China Mobile, China Unicom, Hutchison, and
Amena. Major brand customers include Skype, Volvo, Sony Pictures,
MSN, Citibank, Siemens, Ogilvy, Yahoo!, and Dunkin' Donuts. For
more information, visit: http://www.mobile365.com/. About Sybase,
Inc. Sybase is the largest global enterprise software company
exclusively focused on managing and mobilizing information from the
data center to the point of action. Sybase provides open,
cross-platform solutions that securely deliver information anytime,
anywhere, enabling customers to create an information edge. 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/ . NOTE:
Sybase(R), AvantGo(R) and mFolio(TM) are trademarks of Sybase, Inc.
(R) Indicates registration in the United States of America. All
other company or product names mentioned may be trademarks of the
respective companies with which they are associated.
Forward-Looking Statements: Statements concerning the benefits of
Sybase's acquisition of Mobile 365, future industry and company
growth, anticipated accretive impact on Sybase's earnings 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 the risk that the acquisition may not be consummated in a
timely manner, if at all, risks related to the successful offering
of the combined companies products and services, risks that the
expected synergies resulting from the transaction will not
materialize or will be less than anticipated, risks related to
unanticipated integration costs and successful employee retention,
rapid technological changes, competitive factors and other risks
concerning Sybase and its operations that are detailed in Sybase's
periodic filings with the SEC, including its most recent filings on
Form 10-K and Form 10-Q. DATASOURCE: Sybase, Inc. CONTACT:
Investors, Charlie Chen, +1-925-236-6015, or , or Lynne Farris,
+1-925-236-8797, or , both of Sybase Investor Relations; or Lorna
Fernandes of Sybase Public Relations, +1-925-236-4107, or ; or
Melissa Sheridan of Citigate Cunningham, +1-415-618-8783, or , for
Sybase, Inc. Web site: http://www.mobile365.com/ Web site:
http://www.sybase.com/
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