Motorola links with 'smart' mobiles venture
Thursday 29 October 1998
The news ends four months of uncertainty about whether Motorola would actually join the venture, which is called Symbian. The US group announced its intention to join when the new company was formed in June. However, industry sources said Microsoft, the software giant, had put intense pressure on Motorola not to join the venture.
Earlier this month a leaked memo from Bill Gates, Microsoft's founder, identified Psion as one of the main threats to the US company's future.
Symbian was set up to develop software based on EPOC, the operating system invented by Psion, to be used in a new generation of portable computing devices capable of being connected to each other through mobile phone networks.
"We are delighted to join Symbian. It is a very positive move for us," a spokesman for Motorola said.
The US group will invest pounds 28.75m in the new venture in return for a 23.1 per cent shareholding - equal to the stakes held by Nokia and Ericsson. Psion's shareholding in Symbian will be diluted from 40 per cent to 30.7 per cent.
Motorola will also contribute its Starfish technology, which allows computers to synchronise with each other, to Symbian.
The venture intends to licence the software to as many companies as possible in an attempt to develop an industry standard for portable computers.
A spokesman said discussions with potential licensees were continuing. He would not rule out other companies taking equity stakes in Symbian.
Shares in Psion jumped 46p to 485p on the news as investors woke up to the huge potential of the joint venture.
Meanwhile, Psion announced that Nicholas Myers, its former managing director who is taking over as chief executive of Symbian, was resigning as a director of Psion.
- 1 Christmas comes early to Hong Kong, as millions of bank notes spill out onto busy street
- 2 The 'Black Museum': After 150 years, public can visit police’s grisly crime museum
- 4 Vagina canoe artist facing two years in jail defends herself over ‘obscenity’ charges
- 5 The Queen’s speech 2014: Recap and Twitter reaction to Game of Thrones reference
PlayStation and Xbox hacked by Lizard Squad
Antonio Martin shooting: Black teenager may have tried to ambush patrolman, says police officer's lawyer
Katie Hopkins speaks out on childhood obesity: 'Parents of fat children should be prosecuted for child cruelty'
Boxing Day snowfall could push even more bargain-hunters online for Christmas sales
The 'Black Museum': After 150 years, public can visit police’s grisly crime museum
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Rozanne Duncan: Ukip expels councillor for 'jaw-dropping' comments made in BBC TV interview
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
BBC director Danny Cohen: Rising UK antisemitism makes me feel more uncomfortable than ever
Alex Salmond has 'broken his word to the Scottish people' says Scottish Lib Dem leader
iJobs Money & Business
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...
£43500 per annum + pension + holidays: The Jenrick Group: Night Shift Operatio...
£20000 - £25000 per annum + OTE £40,000 + Car + Pension: SThree: SThree are a ...
£20000 - £25000 per annum + OTE £35K: SThree: We consistently strive to be the...