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Electronics Production | August 10, 2007

Cellpoint acquiries Gennum´s Bluetooth Headset Group

CellPoint has announced that it has acquired the Canadian company Gennum Corporation´s headset group.
CellPoint now control the 3 most important success parameters Strategically this will place CellPoint in the very top of the global Bluetooth headset business, enabling the company immediately to benefit from the combined product portfolio and with a joint roadmap to launch the best range of headsets in terms of comfort, design and noise cancellation technology.

This will help CellPoint achieving its goal of opening up the mainstream consumer market and place itself as the leading supplier of lifestyle Bluetooth products.

Michael Mathiesen, Chairman of CellPoint, explains that the acquisition will provide a very strong support for the company´s strategy to become a real global provider of high end headsets for OEM´s and strategic distribution partners. "The millions of dollar that Gennum has invested in development of their advanced headset, will we, with our partners try to take advantage of. CellPoint will also get a boost from the 12 very experienced Gennum employees, within product
development and ongoing sale, in the North American market." says Mathiesen.

Dr. Franz Fink, CEO of Gennum Corporation, says, "While Gennum has been an innovator in technologies and products for audio and wireless applications, we are more closely focusing on our high-speed mixed-signal products," said Dr. Franz Fink, President and CEO of Gennum. "Our award-winning consumer headsets are recognized in the industry for having outstanding noise cancellation technology and ease-of-use. These features are key differentiators to Cellpoint and are an ideal complement to their current portfolio of Bluetooth-enabled headset offerings - it has to be what the market wants!."

Kristian Gjerding, CEO of CellPoint Americas, is very excited with the acquisition. Mr. Gjerding says, "We want to be recognized as the cutting edge manufacturer of lifestyle focused headsets for the mobile market. We offer consumers an alternative to current technically oriented products." With this acquisition CellPoint will lead in comfort, design and technology. CellPoints new organization in North America is expected to make breakeven the rest of 2007.

The deal, which is a combined stock- and cash transaction, will be closed within the next 3 weeks. The stock transaction price is SEK 5,55 per stock.The stock will be issued according to the board´s authorization from the last General meeting. The purchase-price is 2,3 million CAD plus a potential earn-out of up to one million CAD.
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