Symphony Merges With Teleca

PALO ALTO, Calif. -- Symphony Service Corp., a leader in global product development services for Independent Software Vendors (ISVs) and Teleca, a world-leading supplier of product development services and solutions for mobile appliance Original Equipment Manufacturers (OEMs) and telecommunications operators, today announced that they have entered into a definitive merger agreement to create SymphonyTeleca Corporation, the first company exclusively focused on helping clients rapidly develop, manage and support software for emerging cloud and enterprise mobility solutions in the connected world. The transaction, which is approved by the boards of directors of both companies, will build upon the complementary strengths of each company to create a truly global leader in the transformation of software, connected devices and enterprise mobility.

The primary drivers of the combination are the growing influence of mobility and the cloud on software and software-enabled product development, and the rising adoption and enormous market opportunity of enterprise mobility. Symphony Teleca Corporation’s increased scale, scope and global capabilities enhances its long-term value for customers, employees and investors.

Symphony Service Corp.

Teleca AB