Move furthers innovation among parties for mobility, connectivity and intelligent automotive markets
STAMFORD, CT and WATERLOO, ON – Harman International (NYSE:HAR) and Research In Motion (RIM) (NASDAQ:RIMM; TSX:RIM) announced today that the two companies have reached an agreement for RIM to acquire QNX Software Systems. The deal is subject to regulatory approval and is anticipated to close within 35-45 days. This strategic move is expected to further strengthen QNX penetration in the automotive market and foster innovation for markets served by all parties.
“RIM is excited about the planned acquisition of QNX Software Systems and we look forward to ongoing collaboration between Harman, QNX and RIM to further integrate and enhance the user experience between smartphones and in-vehicle audio and infotainment systems,” said Mike Lazaridis, President and Co-CEO at RIM. “In addition to our interests in expanding the opportunities for QNX in the automotive sector and other markets, we believe the planned acquisition of QNX will also bring other value to RIM in terms of supporting certain unannounced product plans for intelligent peripherals, adding valuable intellectual property to RIM’s portfolio and providing long-term synergies for the companies based on the significant and complementary OS expertise that exists within the RIM and QNX teams today.”
“We welcome the opportunities that a strengthened relationship with RIM will create, as two innovation leaders collaborate to bring new connectivity solutions to the industry,” said Dinesh C. Paliwal, Harman’s Chairman, President and CEO. “We expect to maintain our close association with QNX and the cutting-edge software solutions it provides to Harman and our customers. We believe our leading customers will fully endorse this move and see it as a major step in advancing seamless connectivity and integration among intelligent devices.”
“Like Harman, RIM shares our passion for innovation and reliability, so we are absolutely thrilled with this opportunity,” said Dan Dodge, CEO, QNX Software Systems. “Moreover, RIM will give us the best of all possible mandates: to continue on our innovation path and to increase investment in our core products, professional services, and go-to-market channels. This is a great time to be a QNX customer, as we focus on collaborating with RIM to create an even more exciting platform for the next generation of connected and embedded devices.”
Quite interesting. I hope Rim uses this opportunity well. This could transform the company and increase their revenue substantially. well, thats if they play their cards right.