Motorola Canada Acquisition Corp. Announces the Successful Completion of Its Offer to Acquire Metrowerks Inc.
TORONTO — September 25, 1999 — Motorola Canada Acquisition Corp., an indirect wholly-owned subsidiary of Motorola, Inc. (NYSE: MOT), today announced the successful completion of its offer to purchase all of the common shares of Metrowerks Inc. (Nasdaq: MTWK; Toronto: MWK) made pursuant to a take-over bid circular mailed to Metrowerks' shareholders on September 2, 1999. Approximately 96% of the outstanding common shares (on a fully diluted basis taking into account cancelled options), were tendered to the offer and taken up and paid for today. Motorola Canada Acquisition Corp. intends to use the compulsory acquisition provisions of the Canada Business Corporations Act to acquire the remaining shares of Metrowerks.
ABOUT MOTOROLA
Motorola is a global leader in providing integrated communications solutions and embedded electronic solutions. Sales in 1998 were $29.4 billion. As the world's No. 1 producer of embedded processors, Motorola's Semiconductor Products Sector, based in Austin, Texas, offers multiple DigitalDNA(TM) solutions that enable its customers to created new business opportunities in the consumer, networking and computing, transportation, and wireless communications markets. (Additional information is available at www.motorola.com/sps)
ABOUT METROWERKS
Founded in 1985 and headquartered in Austin, Texas, Metrowerks designs, develops, markets and supports professional software development tools used by programmers to create software applications. Metrowerks' flagship product line, CodeWarrior(R), consists of a suite of programming tools used by developers worldwide to create software in the C, C++, Java and assembly programming languages. CodeWarrior has more than 200,000 registered users in 80 countries.
Statements about the intention to use the compulsory acquisition provisions of the Canada Business Corporations Act to acquire the remaining shares of Metrowerks are forward-looking and involve risks and uncertainties. Motorola wishes to caution the reader that unanticipated delays or complications in completing the acquisition of the remaining shares and those factors contained in Motorola's 1999 Proxy Statement on pages F-15 through F-18 and in its other SEC filings could cause actual results to differ materially from those stated in the forward-looking statements.
SOURCE: Motorola SPS
CONTACT:
Chuck Granieri of Motorola, Inc., 602-952-3601