Siemens announces offer to acquire Cycos

Siemens’ Information and Communication Networks Group has announced plans to acquire Cycos, a unified messaging solutions company based in Germany, for 42 million Euros.

Siemens’ Information and Communication Networks Group (ICN) has announced plans to acquire the German company Cycos, a specialist in the market for unified messaging solutions.

In May 2003, Siemens will make a public cash offer of 5.50 Euros per share for all outstanding Cycos stock. The value of the offer will total some 42 million Euros.

According to Siemens, the acquisition is aimed at expanding ICN’s position in the area of voice and data convergence and to drive the development of its global HiPath IP communications architecture.

Following Siemens’ decision to make an acquisition offer, Cycos’ principle shareholders and others, who together own 66% of the company’s stock, have signalled their willingness to sell their shares to Siemens for 5.50 Euros per share. A cash offer at the same price will also be made to all remaining Cycos shareholders. The managing and supervisory boards of Cycos are said to have advised shareholders to accept the offer.

Cycos’ unified messaging solutions makes possible the reception, output and administration of various types of electronic messages, such as voice mail, e-mail, fax and SMS, on different devices by bundling on a uniform technological platform.

It enables users to administer and access their voice mail on a PC, to forward voice messages as e-mail attachments and to listen to e-mails on mobile and other external phones.

Cycos has around 140 employees at locations in Alsdorf and Stuttgart, Germany, and in Paris, France.

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