LONDON-European personal digital assistant maker Psion plc closed its joint wireless Internet venture with United Business Media due to the slow growth of the mobile data market, the company said.
The joint venture, Trivanti Ltd., was set up in July to develop and market wireless Internet data services for business-to-business and business-to-consumer markets. Psion said the closure will result in 16 layoffs and a $1.44 million write off for the company in the first half.
Psion blamed the slow growth of the mobile data market on delays in the implementation of GPRS networks, which are packet-based and friendlier to data transfers, and the subsequent reduction in investments in wireless content. The move is the latest in a series of retreats from the wireless industry, including one in which Psion dropped a planned smart-phone development project after its partner Motorola Inc. pulled out.
