Mergers and Acquistions News
Categories: Software
September 15th 2009, 17:21PM
Smith Micro Software, a developer of mobility solutions for the wireless market, has announced an agreement to acquire mobility software developer Core Mobility.
Core Mobility will survive as a wholly-owned subsidiary of the firm following the payment of a $10 million (£6.08 million) consideration, plus 700,000 shares of Smith Micro common stock.
Additionally, Core Mobility may be given the opportunity to earn an additional consideration in the form of an earn-out if certain product development and deployment milestones are reached.
"We expect that Core Mobility's technical excellence, innovative product offerings and sizable patent portfolio will be a great complement to our existing technologies and industry-leading mobility software portfolio," commented William W Smith, president and chief executive officer of Smith Micro Software.
Smith Micro recently announced that Mr Smith will lead a presentation at the Jefferies 3rd Annual Technology Conference at the Mandarin Oriental Hotel, New York on September 15th.
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