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     FrontPage Edition: Fri 11 January 2008

 Motorola to acquire Soundbuzz

 

Source: www.soundbuzz.com

Motorola to Enhance Music Delivery Capabilities in Asia through Acquisition of Soundbuzz

Motorola, Inc. (NYSE: MOT) today (6 Jan 2008) announced that it has signed a definitive agreement to acquire Soundbuzz Pte. Ltd., a privately held, leading pan-Asian music provider. Terms of the transaction were not disclosed. The acquisition, which is subject to customary conditions, is expected to close in the first quarter of 2008.
Through its MOTOMUSIC service, Motorola has more than two years experience delivering mobile music to consumers with its carrier customers in China, Hong Kong and Taiwan. The acquisition of Soundbuzz allows Motorola to expand MOTOMUSIC beyond China, into India, Southeast Asia, Australia and New Zealand.
With well over 90 percent of all digital music content in Asia sold via mobile channels, a level expected to remain in the coming years, Motorola’s strength in music delivery will help its carrier customers access this growth opportunity.
Soundbuzz’s multi-region music delivery platform enables the purchase and distribution of digital content through over-the-air and wired broadband connections. The company’s end-to-end system includes subscriber management, content management, payment, client software and media delivery technologies. The company maintains a consumer-facing brand, Soundbuzz, and will continue to provide “white-label” services to carrier customers that offer tailored solutions for Multimedia delivery.
“We are very pleased to announce this transaction with Soundbuzz. It will provide Motorola with one of the most extensive music libraries in the Asia Pacific region, advance our music and video offerings in Australia and South East Asia, and build on the success of our MOTOMUSIC Services in China,” said Bill Werner, senior vice president, future solutions and technology for mobile devices. “We are delighted to welcome Soundbuzz’s strong management whose extensive region specific experience in the music and video industries will enhance the strength of our mobile device teams.”
“Motorola’s dedication to enhancing the digital music experience in Asia complements our own objectives and makes it the ideal partner,” said Sudhanshu Sarronwala, CEO of Soundbuzz. “This combination will help us extend our platform and create exciting growth opportunities for Soundbuzz’s employees and our partner music labels. Further, our customers will benefit from the technological advancements that we expect to deliver as part of a global leader in mobile communications.”
Headquartered in Singapore, Soundbuzz has access to one of the most extensive music libraries in the Asia-Pacific region, through licenses from Sony BMG, EMI, Warner Music International and Universal Music Group, as well as over 45 independent record labels in Asia, the U.S. and Europe. Motorola intends to maintain Soundbuzz’s Singapore headquarters, which will be an integral component of Motorola’s digital music development strategy in Asia.
About Soundbuzz
Soundbuzz is Asia’s largest online and mobile music company, with its 50-plus collective stores attracting the majority of online and wireless purchases. The company operates its own store, www.soundbuzz.com, as well as providing content and/or technology infrastructure to partners such as Hutchison 3, Motorola, Airtel, SingTel, M1, Optus Zoo, Telstra, BigPond Music, Windows Media Player 10, Creative Technology and SONY BMG. With more than 750,000 tracks available to download, Soundbuzz is a 'one-stop-shop' for music, where music lovers can buy and download their favourite tracks onto their PCs, portable music players and mobile phones.
About Motorola
Motorola is known around the world for innovation and leadership in wireless and broadband communications. Inspired by our vision of seamless mobility, the people of Motorola are committed to helping you connect simply and seamlessly to the people, information, and entertainment that you want and need. We do this by designing and delivering "must have" products, "must do" experiences and powerful networks -- along with a full complement of support services. A Fortune 100 company with global presence and impact, Motorola had sales of US $42.8 billion in 2006. For more information about our company, our people and our innovations, please visit www.motorola.com.
Business Risks
Certain statements contained in this press release, including the expected timetable for completing the proposed transaction between Motorola and Soundbuzz, 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 parties’ ability to consummate the transaction; (ii) the conditions to the completion of the transaction may not be satisfied, or the approvals required for the transaction may not be obtained on the terms expected or on the anticipated schedule; (iii) the parties’ ability to meet expectations regarding the timing, completion and accounting and tax treatments of the transaction; (iv) the possibility that the parties may be unable to achieve expected synergies and operating efficiencies within the expected time-frames or at all; (v) 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; (vi) revenues following the transaction may be lower than expected; (vii) 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; (viii) the retention of certain key employees at Soundbuzz; and (ix) 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: www.soundbuzz.com Press Release 6 Jan 2008

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