Intrinsyc Software International, Inc.
TSX : ICS

Intrinsyc Software International, Inc.

July 02, 2008 08:30 ET

Intrinsyc Provides Update on Destinator Acquisition

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 2, 2008) - Intrinsyc Software International, Inc. (TSX:ICS), a global wireless software solutions provider, today announced that it is the successful bidder to acquire certain assets of Destinator Technologies Inc. and certain of its affiliates (Destinator). Further to the Intrinsyc announcement on May 20, 2008, that the Company intended to acquire certain assets from Destinator subject to court and other approvals and conditions, no other party made a qualified bid for the assets of Destinator prior to the court ordered deadline. Destinator will make motions in the courts of Ontario and Delaware during the week of July 7, 2008, seeking vesting orders to approve the Intrinsyc offer, with closing to occur as soon thereafter as practicable.

Closing of the Destinator acquisition remains subject to the satisfaction of certain closing conditions. Intrinsyc continues to expect the transaction to close in July, 2008. Further announcements regarding the status and progress of the transaction will be made at appropriate junctures during the process.

About Intrinsyc Software International, Inc.

Intrinsyc provides wireless software solutions that enable next-generation handheld products, including mobile handsets, smart phones and converged devices. The company's software products, engineering services, and years of expertise help device makers, service providers, and silicon providers deliver compelling wireless products with faster time-to-market and improved development cost. Intrinsyc is the licensor of the Soleus™ software platform based on Windows® Embedded CE for consumer handset development. Intrinsyc is a Microsoft® Windows Embedded Gold Partner and a winner of Windows Embedded Excellence Awards in 2007 and 2008, a Symbian Competence Center and Symbian Platinum Partner. Intrinsyc is publicly traded on the Toronto Stock Exchange (symbol: ICS) and headquartered in Vancouver, Canada with offices in the United States, United Kingdom, and Taiwan.

Intrinsyc and Intrinsyc logo are registered trademarks, and Soleus and Soleus logo are trademarks in Canada, the European Community and the U.S.A. of Intrinsyc Software International, Inc. All other marks are the trademarks of the respective owners and are hereby acknowledged.

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