|Motorola to buy key Sendo assets|
Posted: 29-Jun-2005 [Source: Motorola]
[Motorola to buy Sendo's R&D team and intellectual property portfolio consisting of 50 patents and 40 pending patents.]
Libertyville, IL and Birmingham, UK -- Motorola, Inc. announced that it is acquiring key assets from British mobile handset maker Sendo Ltd. A global leader in wireless communications, Motorola is purchasing Sendo's UK- and Singapore-based research and development team and design and test equipment required by that team, as well as the company's intellectual property portfolio. Financial details of the transaction were not disclosed.
Sendo's core research and development team comprises approximately 200 engineers - with nearly 170 of those based in Birmingham, UK, and the rest based in Singapore. Motorola will integrate the engineers into its Mobile Devices business while preserving the team's focus on designing solutions that enable wireless operators to deliver value-added services to consumers. In addition to the engineers, with today's transaction Motorola is acquiring the team's design and test equipment and will acquire Sendo's entire intellectual property portfolio - including 50 existing and 40 pending patents.
"Motorola is thrilled to welcome the Sendo research and development team and their proven expertise in designing solutions for wireless operators," said Ron Garriques, president of Motorola Mobile Devices. "With Motorola, this team will have a chance to flourish and help transform the way people experience mobile communications. Motorola has had tremendous success in Europe over the last 18 months, particularly because of our commitment to helping customers deliver value-added services. We're going to keep up the momentum and this team will be a vital part of that."
Founded by CEO Hugh Brogan in 2000, Sendo Telecommunications Ltd. created a niche for itself by designing and delivering low-cost, highly customized mobile handsets for wireless operators. During 2004, the company sold approximately 5 million handsets and had more than $420 million in revenue; however, today, Wednesday, 29 June 2005, the privately held company went into administration due to financial pressures.
Under the agreement, Motorola is not acquiring the larger business of Sendo Ltd. or any of its manufacturing or supply relationships, or any of its capital or real assets, handset inventories, sales offices, liabilities or financial obligations.
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