MILPITAS, Calif., March 27 /PRNewswire-FirstCall/ -- Phoenix
Technologies, (Nasdaq: PTEC), the global leader in core systems firmware,
today announced that it has entered into a definitive agreement to acquire
BeInSync Ltd., an Israeli-based provider of an all-in-one solution that
allows users to backup, synchronize, share and access their data online.
The acquisition, which is anticipated to close within the next several
weeks, represents yet another step by Phoenix in delivering on its PC 3.0
promise of Embedded Simplicity.
(Logo: http://www.newscom.com/cgi-bin/prnh/20070410/SFTU048LOGO)
BeInSync's technology redefines the way consumers and SMBs backup,
access, share and protect documents, rich media files, and other important
data. The company's patent-pending, peer-to-peer technology allows users to
seamlessly and securely access their latest files anytime and anywhere,
automatically keeping files and folders 'in sync' and backed up across
multiple computers, including home PCs, office PCs and laptops.
"This acquisition is a leap forward in our effort to redefine and
significantly improve the PC experience by embedding simplicity for end
users," said Woody Hobbs, President and CEO of Phoenix Technologies. "PC
3.0 eliminates complexity and provides users with the kind of convenience
they expect from their digital devices. We are bringing new benefits to the
hundreds of millions of PC users globally who require built-in
functionality on PCs by enabling secure and easy online access and
collaboration and automated data protection to help them manage their
digital lives.
"The integration of breakthrough synchronization technology from
BeInSync will allow Phoenix and its customers to help end-users alleviate
concerns about the loss of important files and to give them complete mobile
freedom to access their data from any Internet-connected computer."
Phoenix Technologies' management team itself has extensive experience
in synchronization technologies. Before joining Phoenix, Woody Hobbs served
as President and CEO of Intellisync, a leader in wireless email and
synchronization solutions, which was acquired in 2006 by Nokia.
"Given our past experience in synchronization solutions, it was fairly
easy for us to identify the best possible technology existing out there
that would fit in with our corporate vision and product strategy,"
continued Hobbs. "We were very impressed with BeInSync's people and their
technology and we're excited to work with them to transform data access and
continuity for PC users in consumer and small business markets as well as
in enterprise departments.
"End-users want to stay connected and always 'be in sync' with
colleagues, friends, remote files and computer systems. We look forward to
working with our OEM customers to make online synchronization and
continuity a core part of the PC end user experience. Together, the two
companies will meet a wider set of customer needs and have a significantly
greater opportunity to enable PC OEMs to grow their markets."
"We are very excited to be a part of Phoenix Technologies, the global
leader in core systems firmware for PCs," said Tal Barnoach, Founder and
Chairman of BeInSync. "With this acquisition, Phoenix is extending its
leadership in the PC industry to include products in its portfolio that
will set the standard yet again for providing the best-in-class solutions
to PC OEMs and their customers."
Upon the closing of the acquisition, Sharon Carmel, Founder & Vice
President of R&D at BeInSync, will join Phoenix as Vice President & Chief
Scientist of Synchronization and Continuity Solutions and Phoenix will
continue to maintain operations out of Tel Aviv, Israel. The two companies
are developing integration plans that build on corporate similarities and
the best business and product development practices from each company.
"Both Phoenix and BeInSync are passionate about creating and enabling
great user experiences across the entire range of mobile PCs," said Carmel.
"Our combined teams will be a powerful force for innovation around emerging
mobile computing platforms for delivering web-based data management and
data protection solutions. PC 3.0 users will no longer be dependent on a
single, stand-alone PC for access to their files and digital life. At the
same time, Phoenix's OEM customers will have new opportunities to
differentiate their offerings, and provide additional value-added services
as part of the PC sale."
About Phoenix Technologies
Phoenix Technologies Ltd. (Nasdaq: PTEC) is the global market leader in
system firmware that provides the most secure foundation for today's
computing environments. The PC industry's top builders and specifiers trust
Phoenix to pioneer open standards and deliver innovative solutions that
will help them differentiate their systems, reduce time-to-market and
increase their revenues. The Company's flagship products, AwardCore,
SecureCore, FailSafe and HyperSpace, are revolutionizing the PC user
experience by delivering unprecedented security, reliability and
ease-of-use. The Company established industry leadership with its original
BIOS product in 1983, has 155 technology patents and 139 pending
applications, and has shipped in over one billion systems. Phoenix is
headquartered in Milpitas, California with offices worldwide. For more
information, visit http://www.phoenix.com
Phoenix, Phoenix Technologies, Phoenix FailSafe, HyperSpace, HyperCore,
PC 3.0 and the Phoenix Technologies logo are trademarks and/or registered
trademarks of Phoenix Technologies Ltd. All other trademarks are the
property of their respective owners.
Safe Harbor
The statements in this release include forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, regarding, but not limited to, the closing of the acquisition, the
benefits of the PC 3.0 environment, the integration of BeInSync's products
and services and employees into our offerings and organization, and OEM
adoption of our products and solutions. These statements involve risk and
uncertainties, including: our ability to close the transaction or adverse
circumstances that would prevent the consummation of the transaction;
technology and business integration challenges and delays; demand for our
products and solutions; the ability of our customers to introduce and
market new products that incorporate our products and solutions; the
product offerings of competitors, especially with respect to functionality
and time-to-market; and our ability to retain key employees. For a further
list and description of risks and uncertainties that could cause actual
results to differ materially from those contained in the forward looking
statements in this release, we refer you to the Company's filings with the
Securities and Exchange Commission, including, but not limited to, its
annual report on Form 10-K and quarterly reports on Form 10-Q. All
forward-looking statements included in this release are based upon
assumptions, forecasts and information available to the Company as of the
date hereof, and the Company assumes no obligation to update any such
forward- looking statements.
Contact
Worldwide:
Shauli Chaudhuri
VP Marketing, Phoenix Technologies
Tel. +1 408 570 1060
Email: Shauli_chaudhuri@phoenix.com
SOURCE Phoenix Technologies Ltd.
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Related links:
http://www.phoenix.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20070410/SFTU048LOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Shauli Chaudhuri, VP Marketing of Phoenix
Technologies, +1-408-570-1060, Shauli_chaudhuri@phoenix.com
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