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Sybase Takes Top Leadership Position in Mobile Enterprise Solutions With Acquisition of XcelleNet DUBLIN, California, April 2 /PRNewswire/ --- Sybase Solidifies Leadership in All Critical Software Categories Needed to Unwire the Enterprise, Adds Important Mobile Data Security Products to Portfolio SYNOPSIS: Sybase today agreed to acquire XcelleNet, Inc. The company will be integrated into Sybase's iAnywhere Solutions subsidiary. - Positions Sybase in the number one leadership position in mobile database, mobile middleware and mobile and remote device management categories; adds critical mobile data security solutions - Strengthens and expands Sybase's Unwired Enterprise portfolio - Assures XcelleNet customers and partners continued product innovation, support and global resources Sybase, Inc. (NYSE: SY), a leading provider of enterprise infrastructure and mobile software, today announced it has signed an agreement to purchase privately held XcelleNet, Inc., the leader in frontline device management software, in an all cash transaction from investment firm Francisco Partners, for a net purchase price of approximately $95.2 million, subject to adjustment based on changes between December 31, 2003 and the closing of the transaction. Sybase intends to integrate XcelleNet into its iAnywhere Solutions subsidiary, and expects the transaction to close in the second quarter of 2004, subject to customary closing conditions including compliance with the requirements of the Hart-Scott-Rodino Act. This acquisition is expected to bring important enhancements to the Unwired Enterprise offering, said John Chen, chairman, CEO and president of Sybase. We can now offer our enterprise clients a full portfolio of solutions for the management of their remote and mobile systems -- from security, to network connections and even the devices themselves. Sybase will be number one in the critical software categories required to unwire the enterprise. In addition, Sybase expects to gain 2,200 global customers through this acquisition, as well as new and expanded relationships with partners and independent software vendors (ISVs) including HP and Microsoft. IT decision-makers have been interested in moving critical business applications out to the edge and are focusing on the issues of device management, security and usability of applications, said Stephen Drake, program manager for IDC's Mobile Infrastructure Software Service. Companies with best of breed solutions in security and device management will be better able to offer their customers complete and secure mobile enterprise solutions that move business critical data to the point of action. We are impressed by the commitment of the Sybase and iAnywhere Solutions management teams to drive opportunities for our XcelleNet products around the world, said Joan Herbig, CEO, XcelleNet. We believe there are strong opportunities to leverage Sybase's significant global strength and resources. The integration of our companies will expand the global reach of XcelleNet's products through our combined sales channels and robust partner network, said Terry Stepien, president of iAnywhere. In addition, this acquisition will help to ensure continued XcelleNet customer and partner success through ongoing product innovation, support and access to our broad line of leading mobile enterprise solutions. About Sybase, Inc. Celebrating 20 years of innovation, Sybase enables the Unwired Enterprise for customers and partners by delivering enterprise and mobile solutions for information management, development and integration. The world's most critical data in commerce, communications, finance, government and healthcare runs on Sybase. For more information, visit the Sybase Web site: http://www.sybase.com . About XcelleNet XcelleNet delivers success at the Point of Action. More than 2,200 companies worldwide use XcelleNet's frontline management solution to keep information and applications current wherever business takes place -- in retail stores and branch offices, at customer sites, and in the field. With XcelleNet software solutions, business can see and direct its frontline activities, IT can manage any platform in the field from a browser, and end users can enjoy unparalleled reliability of the solutions on which they depend. To deliver the total solution, XcelleNet partners with global leaders such as Microsoft, HP, and Palm. About Francisco Partners: With $2.5 billion of committed capital, Francisco Partners is one of the world's largest technology-focused private equity funds. The firm was founded to pursue structured investments in technology companies undergoing strategic, technological, and operational inflection points. Francisco Partners targets majority and minority investments in private companies, public companies, and divisions of public companies, with transaction values ranging from $30 million to $2.0 billion. The principals of Francisco Partners have a proven track record, having invested in excess of $2.4 billion of equity capital in over 50 technology companies during the past decade, including several of the most successful buyouts effected to date. For additional information, visit www.franciscopartners.com. NOTE: iAnywhere, iAnywhere Solutions and Sybase are registered trademarks of Sybase, Inc. or its subsidiaries. (R) indicates registration in the United States of America. All other company and product names mentioned may be trademarks of the companies with which they are associated. FORWARD LOOKING STATEMENTS: Statements concerning the benefits of Sybase's acquisition of XcelleNet, future growth, the completion of the acquisition and Sybase's plans following completion of the acquisition are by nature forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that involve a number of uncertainties and risks and cannot be guaranteed. Factors that could cause actual events or results to differ materially include the risk that the acquisition may not be consummated in a timely manner, if at all, risks regarding employee relations, risks relating to shifts in customer demand, rapid technological changes, competitive factors and unanticipated delays in scheduled product availability and other risks concerning Sybase, XcelleNet and their respective operations, some of these risks are detailed in filings with the SEC of Sybase, including its most recent filings on Form 10-K and Form 10-Q. Web site: http://www.franciscopartners.com Web site: http://www.sybase.com Sybase, Inc. CONTACT: Leslie Nakajima of Sybase, Inc., +1-925-236-8650, or [email protected]; or Andrew Wittman of Citigate Cunningham, +1-415-618-8738, or [email protected], for Sybase, Inc. |