Feeds

Psion spends millions on Canadian wireless group

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

  • alert
  • submit to reddit

Choosing a cloud hosting partner with confidence

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

Remote control for virtualized desktops

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
10 threats to successful enterprise endpoint backup
10 threats to a successful backup including issues with BYOD, slow backups and ineffective security.
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.
Getting ahead of the compliance curve
Learn about new services that make it easy to discover and manage certificates across the enterprise and how to get ahead of the compliance curve.