Transaction furthers Smith Micro's leadership position in wireless network access, insights and optimization solutions
ALISO VIEJO, California, March 8, 2016 /PRNewswire/ -- Smith Micro Software, Inc. (NASDAQ: SMSI) today announced that it has signed a definitive agreement to acquire Birdstep Technology's (OSO: BIRD) software development and marketing arm, based in Stockholm, Sweden. The agreement is subject to approval by Birdstep shareholders and is expected to close on or around April 1, 2016.
The all-cash transaction will add substantial technical resources, including engineers fully trained in wireless connectivity technology, to support the growth of Smith Micro's business, and enables the company to expand its market presence and customer base in APAC and EMEA.
"Birdstep has been our primary competitor in policy driven solutions designed to optimize the utilization of wireless networks. The acquisition brings trained resources and complementary technology to support the new customers we added at the end of 2015, and will continue to add in 2016," said William W. Smith Jr., President and CEO of Smith Micro Software. "In addition, Birdstep has a presence in APAC and EMEA that will enable us to reemerge and expand our customer base in these markets. Operators and OEMs that use Birdstep solutions will benefit from a stronger combined portfolio and roadmap, and the confidence of gaining a partner with decades of experience and innovation in wireless software."
Birdstep provides wireless network optimization solutions that allow operators and OEMs to provision, analyze, select, control, and commercialize Wi-Fi and cellular networks. Based in Stockholm, with offices in Kuala Lumpur and Kansas City, Birdstep generated revenue of approximately $6.8 million in its fiscal year ended December 31, 2015, based on unaudited financial results.
About Smith Micro Software, Inc.:
Smith Micro provides software to simplify and enhance the mobile experience. Our network access, insights, and optimization solutions ensure the best Quality of Experience for wireless users, while embedded mobile software creates new opportunities for wireless service providers and B2C businesses to engage with consumers via smartphones. Our portfolio also includes content monetization solutions such as visual messaging, video streaming, and a variety of 2D and 3D graphics applications. For more information, visit smithmicro.com. (NASDAQ: SMSI)
Safe Harbor Statement:
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SOURCE Smith Micro Software, Inc.