Zi Corporation (ZICA) Continues Strategic Discussions with Nuance (NUAN)

September 4, 2008 5:36 PM EDT

Zi Corporation (NASDAQ: ZICA) is continuing a process of exploring a variety of strategic alternatives, including opening discussions with Nuance Communications, Inc. (Nasdaq: NUAN), and advancing other opportunities previously announced.

"Given the series of recent announcements surrounding significant transactions, potential strategic investments, and the unsolicited proposal for the purchase of Zi, the Company felt that it was important to inform its shareholders of its strategic planning process and its ongoing efforts to maximize shareholder value," commented Milos Djokovic, President and Chief Executive Officer of Zi Corporation.

"Zi has interesting and viable alternatives in front of it and the Company, with its bankers and legal advisors, will conduct an evaluation process in a deliberate and thorough fashion. Our recent announcement of the Nokia licensing deal, effectively increasing our revenue stream from this relationship by 100% for the first year of the agreement, coupled with our robust sales pipeline, is indicative of the true value of our organization. The addition of the significant initial payment from the Nokia transaction ensures we have the resources to make a prudent assessment of all options available," Djokovic concluded.

Zi Corporation (Zi) develops software designed to enhance the usability of mobile and consumer electronic devices. [SM]

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