Motorola Successfully Completes Acquisition of Soundbuzz

Sun Feb 17, 2008 9:49pm EST
 
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MOTOMUSIC expands across Asia

    SCHAUMBURG, Ill. and SINGAPORE, Feb. 17 /PRNewswire-FirstCall/ --
Motorola, Inc. (NYSE: MOT) a global leader in mobile entertainment, has
successfully completed its acquisition of Soundbuzz Pte., Ltd., a leading
pan-Asian music provider. Terms of the transaction were not disclosed.
    Today's milestone opens the door for Motorola to extend its successful
Greater China music platform, MotoMusic, to India and Southeast Asia. In
addition to a presence in 13 countries in the Asia-Pacific region, licenses
with Sony BMG, EMI, Warner Music International, Universal Music Group, and
over 45 independent record labels from around the world, the acquisition of
Soundbuzz establishes MotoMusic as the leading music platform in the
Asia-Pacific region.
    "With the resources of Motorola, we are now able to immediately expand the
digital music offerings available to our customers -- and Motorola's rapidly
growing installed base of handsets throughout the region," said Sudhanshu
Sarronwala, CEO of Soundbuzz. "Clearly, this marks a major milestone, as it
positions Soundbuzz and Motorola to better participate in the ongoing growth
in Asia's booming mobile music download market."
    "Music is the heart and soul of the mobile entertainment experience, and
with Soundbuzz as a part of our family, Motorola has the biggest heart and the
most soul in mobile music in Asia," said Ian Chapman-Banks, Vice-President of
Mobile Devices Marketing for Motorola Asia-Pacific.
    "With a library of over 750,000 songs and half a million mobile music
derivatives, Motorola now offers the people of the Asia-Pacific region an
extensive music collection, all available for download either via the Internet
or directly onto your mobile device," Chapman-Banks noted.
    Soundbuzz will maintain its Singapore headquarters along with other
offices in Mumbai and Sydney, forming a core component of Motorola's evolving
mobile entertainment strategy in the Asia-Pacific region.
    About Motorola
    Motorola is known around the world for innovation in communications.  The
company develops technologies, products and services that make mobile
experiences possible. Our portfolio includes communications infrastructure,
enterprise mobility solutions, digital set-tops, cable modems, mobile devices
and Bluetooth accessories. Motorola is committed to delivering next generation
communication solutions to people, businesses and governments. A Fortune 100
company with global presence and impact, Motorola had sales of US $36.6
billion in 2007. For more information about our company, our people and our
innovations, please visit www.motorola.com
    Certain statements contained in this press release, including future
financial and operating results, benefits and synergies of the transaction,
future opportunities for the combined company and products, any other
statements regarding Motorola's or Soundbuzz's future expectations, beliefs,
goals or prospects and any statements that are not statements of historical
facts might be considered forward-looking statements. While these
forward-looking statements represent managements' current judgment of future
events, they are subject to risks and uncertainties that could cause actual
results to differ materially from those stated in the forward-looking
statements. Important factors that could cause actual results or events to
differ materially from those indicated by such forward-looking statements,
include: (i) the possibility that the parties may be unable to achieve
expected synergies and operating efficiencies within the expected time-frames
or at all; (ii) Motorola's ability to successfully integrate Soundbuzz's
operations and technology into those of Motorola and the possibility that such
integration may be more difficult, time-consuming or costly than expected;
(iii) revenues following the transaction may be lower than expected; (iv)
operating costs, customer loss and business disruption (including, without
limitation, difficulties in maintaining relationships with employees,
customers, clients or suppliers) may be greater than expected following the
transaction; (v) the retention of certain key employees at Soundbuzz; and (vi)
the other factors described in Motorola's Annual Report on Form 10-K for the
year ended December 31, 2006 and its subsequent reports filed with the SEC.
Motorola assumes no obligation to update or revise any forward-looking
statement in this press release, and such forward-looking statements speak
only as of the date hereof
SOURCE  Motorola, Inc.

Jen Erickson, +1-847-435-5320, Jennifer.erickson@motorola.com, or Carolyn Wu
(Asia-Pacific), +86 6564-1018, carolynwu@motorola.com, both of Motorola; or
Melissa Donnelly of Soundbuzz, +61-438-737 408, melissa@soundbuzz.com

 

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