STAMFORD, CONNECTICUT and WATERLOO, ONTARIO - Harman International (NYSE:HAR - News) and Research In Motion (RIM) (NASDAQ:RIMM - News)(TSX:RIM - News) announced on Monday that the two companies have reached an agreement for RIM to acquire QNX Software Systems. The deal is subject to regulatory approval and is anticipated to close within 35-45 days. This strategic move is expected to further strengthen QNX penetration in the automotive market and foster innovation for markets served by all parties. "RIM is excited about the planned acquisition of QNX Software Systems and we look forward to ongoing collaboration between Harman, QNX and RIM to further integrate and enhance the user experience between smartphones and in-vehicle audio and infotainment systems," said Mike Lazaridis, President and Co-CEO at RIM. "In addition to our interests in expanding the opportunities for QNX in the automotive sector and other markets, we believe the planned acquisition of QNX will also bring other value to RIM in terms of supporting certain unannounced product plans for intelligent peripherals, adding valuable intellectual property to RIM's portfolio and providing long-term synergies for the companies based on the significant and complementary OS expertise that exists within the RIM and QNX teams today."
"We welcome the opportunities that a strengthened relationship with RIM will create, as two innovation leaders collaborate to bring new connectivity solutions to the industry," said Dinesh C. Paliwal, Harman's Chairman, President and CEO. "We expect to maintain our close association with QNX and the cutting-edge software solutions it provides to Harman and our customers. We believe our leading customers will fully endorse this move and see it as a major step in advancing seamless connectivity and integration among intelligent devices."
"Like Harman, RIM shares our passion for innovation and reliability, so we are absolutely thrilled with this opportunity," said Dan Dodge, CEO, QNX Software Systems. "Moreover, RIM will give us the best of all possible mandates: to continue on our innovation path and to increase investment in our core products, professional services, and go-to-market channels. This is a great time to be a QNX customer, as we focus on collaborating with RIM to create an even more exciting platform for the next generation of connected and embedded devices."
About Harman International
Harman International (http://www.harman.com/) designs, manufactures and markets a wide range of audio and infotainment products for the automotive, consumer and professional markets. The Company maintains a strong presence in the Americas, Europe and Asia and employs about 11,000 people worldwide. The Harman International family of brands spans some 15 leading names including AKG®, Harman Kardon®, Infinity®, JBL®, Lexicon® and Mark Levinson®. The company's stock is traded on the New York Stock Exchange under the symbol HAR.
About QNX
QNX Software Systems, based in Ottawa, Ontario, was founded in 1980 and acquired by Harman International in 2004. The unit's QNX® Neutrino® open platform operating system is deployed across multiple business sectors including automotive, industrial, telecommunications, medical, defense, and aerospace. For additional information, visit http://www.qnx.com/.
About Research In Motion (RIM)
Research In Motion (RIM) is a leading designer, manufacturer and marketer of innovative wireless solutions for the worldwide mobile communications market. Through the development of integrated hardware, software and services that support multiple wireless network standards, RIM provides platforms and solutions for seamless access to time-sensitive information including email, phone, SMS messaging, Internet and intranet-based applications. RIM technology also enables a broad array of third party developers and manufacturers to enhance their products and services with wireless connectivity to data. RIM's portfolio of award-winning products, services and embedded technologies are used by thousands of organizations around the world and include the BlackBerry® wireless platform, the RIM Wireless Handheld™ product line, software development tools, radio-modems and software/hardware licensing agreements. Founded in 1984 and based in Waterloo, Ontario, RIM operates offices in the Americas, Europe and Asia Pacific. RIM is listed on the NASDAQ Stock Market (NASDAQ:RIMM - News) and the Toronto Stock Exchange (TSX:RIM - News). For more information, visit http://www.rim.com/ or http://www.blackberry.com/.
Reader Information
Paul Leroux
QNX Software Systems
+1 613 591-0931
paull@qnx.com
www.qnx.com
info@qnx.com
Contacts:
Harman International Industries, Incorporated
Darrin Shewchuk
Director, Corporate Communications
203.328.3500
darrin.shewchuk@harman.com
RIM Investor Relations
519-888-7465
investor_relations@rim.com
Brodeur (PR Agency for RIM)
Marisa Conway
212-336-7509
mconway@brodeur.com
QNX, Aviage, Momentics, and Neutrino are trademarks of QNX Software Systems GmbH & Co. KG, registered in certain jurisdictions, and are used under license. All other trademarks and trade names belong to their respective owners.