Feeds

Psion spends millions on Canadian wireless group

Reckons it's the most important buy it's ever made

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

Psion has agreed to buy Canadian wireless technology and software development group Teklogix for C$554 million (£243 million).

The London company's offer is made up of £100 million cash and the remainder in shares. Teklogix shareholders stand to get around 2.3 Psion shares and cash that will value each share at C$35 - 41 per cent higher than yesterday's closing price.

Psion chairman David Levin described the deal as "far and away the most important acquisition Psion has ever made".

"It is the core technology we need... Teklogix brings with it critical local wireless integration skills." The deal is expected to be completed by September.

Teklogix, based in Toronto, has 600 staff and makes systems that let mobile workers stay in touch and allow companies to monitor information. Its customers include Dell.

The deal came the day after Psion announced it was forming a £9.5 million joint venture with United News and Media to offer mobile Internet services. The handheld computer company also said it was paying £1.1 million for Fonedata, a British wireless Web portal. ®

Related Stories

Symbian CEO suggests dream ticket alliance with Palm
Global PDA production slows down
Palm preps summer launch for Euro Palm.net

Beginner's guide to SSL certificates

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Big Content outs piracy hotbeds: São Paulo, Beijing ... TORONTO?
MPAA calls Canadians a bunch of bootlegging movie thieves
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
Hungary's internet tax cannot be allowed to set a precedent, says EC
More protests planned against giga-tariff for Tuesday evening
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.