BURLINGTON, ONTARIO, CANADA, August 9 /CNW/ - 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
"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.
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. www.gennum.com
About CellPoint Connect AB
CellPoint Connect AB is a publicly listed Swedish company
(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 www.cellpoint.com.
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.
For further information:
For further information: Gennum Media Contact Robin Vaitonis,
905-632-2999 ext. 2110 E-mail: firstname.lastname@example.org or CellPoint Media Contact
Michael Mathiesen, +45 4045 3332 E-mail: Michael.email@example.com