CellPoint Purchases Gennum's Headset Product Line
Posted: Thu Aug 09, 2007 4:22 pm
Gennum and CellPoint Reach Definitive Agreement for Purchase of Consumer Headset Product Line
BURLINGTON, Ontario, Canada -- Aug. 9, 2007 Gennum Corporation (TSX:GND) and CellPoint Connect AB, announced today the companies have reached a definitive agreement for the purchase of Gennum's consumer headset product line. This sale follows Gennum's June announcement that the company is streamlining its portfolio to focus on its high-speed mixed-signal products for the video and data communications markets.
"While Gennum has been an innovator in technologies and products for audio and wireless applications, we are more closely focusing on our high-speed mixed-signal products," said Dr. Franz Fink, President and CEO of Gennum. "Our award-winning consumer headsets are recognized in the industry for having outstanding noise cancellation technology and ease-of-use. These features are key differentiators to CellPoint and are an ideal complement to their current portfolio of Bluetooth(R)-enabled headset offerings."
Gennum's consumer headset line includes the nXZEN(TM) and nX 6000(TM) products, all incorporating Bluetooth technology. CellPoint currently offers the Flamingo line of headsets and is set to launch a new lifestyle brand "Happy Ear."
"CellPoint has established itself as a leader in Bluetooth products, delivering an ergonomically superior approach to wireless headsets," said Michael Mathiesen, Chairman and President of CellPoint. "With the acquisition of Gennum's headset product line and associated technologies, we are now well positioned to move into the next phase of growth, as we expand our brands and offerings to the digital wireless market. We believe the combination of technologies will deliver an unprecedented consumer experience."
It is anticipated the transaction will close in the next 3 weeks. Terms of the agreement were not disclosed.
About Gennum
Gennum Corporation (TSX: GND) is a leading designer and manufacturer of semiconductor solutions for the global video, data communications and audio markets. A winner of a Technical Emmy(R) award for advances in high definition (HD) broadcasting, Gennum's broad portfolio of products and technologies include image processors, video timing and transport products, ICs for optical transceivers, backplane interconnects and low power digital signal processing (DSP) solutions. Gennum is headquartered in Burlington, Canada, and has global design, research and development and sales offices in Canada, Japan and the United Kingdom. http://www.gennum.com
About CellPoint Connect AB
CellPoint Connect AB is a publicly listed Swedish company (http://www.aktietorget.se; CPNT) with headquarters in Copenhagen, Denmark and offices in Oslo, Stockholm, Miami and Shenzen, China. The company designs, develops, manufactures and markets wired and Bluetooth(R) enabled wireless headsets/earphones. See http://www.cellpoint.com.
Disclaimer
This document may contain forward-looking statements relating to Gennum's goals, strategies, financial condition and results as well as the environment in which Gennum operates, investments, and litigation in which Gennum is involved, which may involve estimates, forecasts and projections. Forward-looking statements may include words such as "plans", "intends", "anticipates", "should", "estimates", "expects", "believes" and similar expressions. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and/or are beyond Gennum's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. These factors include those set forth in Gennum's public filings. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. Gennum disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Gennum, the Gennum logo are registered trademarks of Gennum Corporation. All other product or service names are the property of their respective owners. Gennum Corporation, 2007.