Nokia to acquire Intellisync for $430 Million
Worldâ€™s largest mobile phone maker Nokia wants to get into the market currently dominated by Research in Motionâ€™s Blackberry. They have just announced their plans to acquire Intellisync for a reported amount of USD 430 Million. And this would help them add advanced e-mail software and allow it to compete more aggressively with the Blackberry device.
Nokia will pay $5.25 in cash for each Intellisync common share as per the reports released to the media. They also aim to complete the takeover by the first quarter of next year. Nokia is planning to use Intellisync wireless e-mail software to challenge Waterloo, Ontario-based Research In Motion Ltd., the maker of the Blackberry device.
The corporate users in USA and Europe are crazy about the functionality Blackberry provided them with access to emails on the move. Nokia now want to counter that popularity. Intellisync is based in San Jose in California and has around 450 employees. They are currently running in loss but are experiencing improving revenue generation from their market.
Mary McDowell, head of Nokia’s unit that makes devices for businesses said in a statement: â€œEnterprises face increasing challenges when it comes to selecting devices, enabling access to e-mail and securing corporate data. We want to make it simple for our business customers to mobilize their workforces.”