Feeds

Psion spends millions on Canadian wireless group

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

  • alert
  • submit to reddit

Security and trust: The backbone of doing business over the internet

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

New hybrid storage solutions

More from The Register

next story
Hey, Scots. Microsoft's Bing thinks you'll vote NO to independence
World's top Google-finding website calls it for the UK
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
OECD lashes out at tax avoiding globocorps' location-flipping antics
You hear that, Amazon, Google, Microsoft et al?
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.