RealTime IT News

Psion Expands Through Teklogix Take Over

[Mississauga, CANADA] The Boards of Psion PLC and Teklogix International Inc. agreed to Psion acquiring Teklogix through a combination of cash and shares, subject to regulatory approvals.

Psion is a group of four technology companies focused on providing mobile Internet and corporate network solutions. It is the largest shareholder in Symbian, a joint venture company owned by Psion, Ericsson, Motorola, Matsushista and Nokia. Symbian's objective is to develop and market its platform technology as the industry standard for the next generation of mobile Internet communication and computing devices.

Teklogix provides real-time data collection and communication solutions to industrial users, for use especially in the logistics area, based on local area networks and wide area networks.

Teklogix brings local wireless integration skills, a strong North American brand, and a global customer base including customers such as Cadbury Schweppes, Dell Computer, Compaq, Hertz, Volkswagen and Honda Europe.

This takeover provides Psion with wireless integration capabilities while the technologies will help to exploit mobile access to the Internet. The combined businesses provide a fit of wireless technologies including Wireless IEEE Standard 802.11, Bluetooth and access to Symbian's EPOC technology.

Ian McElroy, currently president and chief executive officer of Teklogix, will join the Board of Psion and be responsible for managing the combined business of Teklogix and the Enterprise Computing division of Psion.

"Psion views the industrial wireless communications market as tremendously important in the development of Psion's strategy," said Dr David Potter, chairman of Psion. "This strategy is focused on the potential to harness the mobile Internet in all workplaces, the home and within other environments such as education or health."

The acquisition is expected to be completed by the end of the third quarter of this year.