MOTOMUSIC expands across Asia
SCHAUMBURG, Ill. and SINGAPORE, Feb. 17 /PRNewswire-FirstCall/ --
Motorola, Inc. (NYSE: MOT) a global leader in mobile entertainment, has
successfully completed its acquisition of Soundbuzz Pte., Ltd., a leading
pan-Asian music provider. Terms of the transaction were not disclosed.
Today's milestone opens the door for Motorola to extend its successful
Greater China music platform, MotoMusic, to India and Southeast Asia. In
addition to a presence in 13 countries in the Asia-Pacific region, licenses
with Sony BMG, EMI, Warner Music International, Universal Music Group, and
over 45 independent record labels from around the world, the acquisition of
Soundbuzz establishes MotoMusic as the leading music platform in the
Asia-Pacific region.
"With the resources of Motorola, we are now able to immediately expand
the digital music offerings available to our customers -- and Motorola's
rapidly growing installed base of handsets throughout the region," said
Sudhanshu Sarronwala, CEO of Soundbuzz. "Clearly, this marks a major
milestone, as it positions Soundbuzz and Motorola to better participate in
the ongoing growth in Asia's booming mobile music download market."
"Music is the heart and soul of the mobile entertainment experience,
and with Soundbuzz as a part of our family, Motorola has the biggest heart
and the most soul in mobile music in Asia," said Ian Chapman-Banks,
Vice-President of Mobile Devices Marketing for Motorola Asia-Pacific.
"With a library of over 750,000 songs and half a million mobile music
derivatives, Motorola now offers the people of the Asia-Pacific region an
extensive music collection, all available for download either via the
Internet or directly onto your mobile device," Chapman-Banks noted.
Soundbuzz will maintain its Singapore headquarters along with other
offices in Mumbai and Sydney, forming a core component of Motorola's
evolving mobile entertainment strategy in the Asia-Pacific region.
About Motorola
Motorola is known around the world for innovation in communications.
The company develops technologies, products and services that make mobile
experiences possible. Our portfolio includes communications infrastructure,
enterprise mobility solutions, digital set-tops, cable modems, mobile
devices and Bluetooth accessories. Motorola is committed to delivering next
generation communication solutions to people, businesses and governments. A
Fortune 100 company with global presence and impact, Motorola had sales of
US $36.6 billion in 2007. For more information about our company, our
people and our innovations, please visit http://www.motorola.com
Certain statements contained in this press release, including future
financial and operating results, benefits and synergies of the transaction,
future opportunities for the combined company and products, any other
statements regarding Motorola's or Soundbuzz's future expectations,
beliefs, goals or prospects and any statements that are not statements of
historical facts might be considered forward-looking statements. While
these forward-looking statements represent managements' current judgment of
future events, they are subject to risks and uncertainties that could cause
actual results to differ materially from those stated in the
forward-looking statements. Important factors that could cause actual
results or events to differ materially from those indicated by such
forward-looking statements, include: (i) the possibility that the parties
may be unable to achieve expected synergies and operating efficiencies
within the expected time-frames or at all; (ii) Motorola's ability to
successfully integrate Soundbuzz's operations and technology into those of
Motorola and the possibility that such integration may be more difficult,
time-consuming or costly than expected; (iii) revenues following the
transaction may be lower than expected; (iv) operating costs, customer loss
and business disruption (including, without limitation, difficulties in
maintaining relationships with employees, customers, clients or suppliers)
may be greater than expected following the transaction; (v) the retention
of certain key employees at Soundbuzz; and (vi) the other factors described
in Motorola's Annual Report on Form 10-K for the year ended December 31,
2006 and its subsequent reports filed with the SEC. Motorola assumes no
obligation to update or revise any forward-looking statement in this press
release, and such forward-looking statements speak only as of the date
hereof
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SOURCE Motorola, Inc.
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Related links:
http://www.motorola.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20020307/MOTLOGO
http://www.newscom.com/cgi-bin/prnh/20020415/MOTNOTAGLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Jen Erickson, +1-847-435-5320,
Jennifer.erickson@motorola.com, or Carolyn Wu (Asia-Pacific), +86
6564-1018, carolynwu@motorola.com, both of Motorola; or Melissa
Donnelly of Soundbuzz, +61-438-737 408, melissa@soundbuzz.com
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