Casio invests in Sybase subsidiary

iAnywhere Solutions Inc., the market leading mobile and wireless subsidiary of Sybase Inc. announced that Casio Computer Co. Ltd., one of the world’s leading consumer electronics companies, has agreed to invest $5 million in the company’s convertible preferred stock.

Casio’s investment, which is expected to fund within the next 30 days, will allow iAnywhere Solutions to extend its mobile and wireless application development efforts to the market for m-Business solutions. The announcement underscores an already strong strategic relationship between the companies that is focused on enabling solutions for iAnywhere Solutions’ m-Business platform and Casio’s Windows CE-business handheld devices.

"We are excited by Casio’s agreement to invest in iAnywhere Solutions, since Casio’s brand recognition and global reach both validate and enhance iAnywhere Solutions’ m-Business leadership. Also, the investment of Casio in iAnywhere Solutions will mark a significant milestone in Sybase’s ongoing strategy to team with industry leaders to boost our presence in high growth markets, such as mobile and wireless computing, e-Business portals, and vertical solutions," said Delfin Hallare Jr., president and general manager of Sybase Phils., Inc. as Casio deepens its commitment to enabling mobile solutions for enterprise customers, iAnywhere Solutions will be there alongside them helping to grow market share.

Hallare said that anytime a worldwide leader partner with a Sybase company, it bolsters the image and value of that company and Sybase as a whole. "The investment further solidifies the relationship of Sybase and Casio and strengthens our market position in the mobile and wireless enterprise markets. The relationship with iAnywhere Solutions will provide significant new benefits for the customers," he said.