EXHIBIT 99.2
PHONE.COM ACQUISITION OF PARAGON SOFTWARE LTD. CLOSED
REDWOOD CITY, Calif. (March 8, 2000) -- Phone.com, Inc., (Nasdaq:PHCM) a leading
provider of mobile Internet software and services, today announced that March 4,
2000 was the closing of its previously announced acquisition of Paragon Software
Ltd. Pursuant to the acquisition, Phone.com will issue up to 3,591,638 shares of
Phone.com Common Stock and $12.364 million in cash in exchange for all
outstanding Paragon common stock, preferred stock, options and warrants.
About Phone.com
Phone.com, Inc. (Nasdaq:PHCM) is a leading provider of software and services
that enable the delivery of Internet-based information services to mass-market
wireless telephones. Using its software, wireless subscribers have access to
Internet- and corporate intranet-based services, including Email, news, stocks,
weather, travel and sports. In addition, subscribers have access via their
wireless telephones to network operators' intranet-based telephony services,
which may include over-the-air activation, call management, billing history
information, pricing plan subscription and voice message management. Phone.com
is headquartered in Silicon Valley, California and has regional offices in
Belfast, Copenhagen, Hong Kong, London, Seoul, and Tokyo. Visit
http://www.phone.com for more information.
Except for the historical information contained herein, the matters discussed in
this news release are forward-looking statements involving risks and
uncertainties that could cause actual results to differ materially from those in
such forward-looking statements. Potential risks and uncertainties include, but
are not limited to, Phone.com's limited operating history, potential
fluctuations in Phone.com's operating results, uncertainties related to
Phone.com's long sales cycle and reliance on a small number of customers,
Phone.com's dependence on the acceptance of its products by network operators
and wireless subscribers, Phone.com's ability to adequately address the rapidly-
evolving market for delivery of Internet-based services through wireless
telephones, the need to achieve widespread integration of Phone.com's browser in
wireless telephones, competition from companies with substantially greater
financial, technical, marketing and distribution resources and the ability of
Phone.com to manage a complex set of engineering, marketing and distribution
relationships. Further information regarding these and other risks are included
in Phone.com's Form 10-Q for quarter ended December 31, 1999, in its prospectus
dated November 16, 1999 and in its other filings with the Securities and
Exchange Commission.
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FoneSync is a trademark of Paragon Limited Software. Phone.com, the Phone.com
name and logo, MyPhone and the family of terms carrying the "UP." prefix are
trademarks of Phone.com, Inc. All Rights Reserved. All other company, brand and
product names may be marks that are the sole property of their respective
owners.
For further information:
Contact Phone.com Worldwide Public Relations
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Investor Relations Contacts
Phone.com, Inc. The Carson Group
Alan Black Bonnie McBride
Chief Financial Officer Managing Director
+1 (650) 817 1447 +1 (415) 617 2540
investor@corp.phone.com
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