Openwave Sells Location Business to Persistent Systems
Written by Openwave Systems Inc.
Friday, 03 February 2012
REDWOOD CITY, CA - February 01, 2012 --
Openwave Systems Inc. (Nasdaq: OPWV), a
global software innovator and the inventor of the mobile internet,
announced today the sale of its Location business to a subsidiary of
Persistent Systems Ltd. (BSE & NSE: PERSISTENT), a leader in
outsourced software product development (OPD) services. Specific
financial terms of the deal were not disclosed.
“We have achieved the first milestone in our strategic initiative to
divest Openwave of its product businesses. We are pleased with the sale
of our Location business to Persistent Systems, a longstanding
development partner of ours, and we are committed to a smooth transition
for our location customers and employees,” said Mike Mulica, CEO of
Openwave. “We continue to believe in our ability to drive toward the
execution of our strategic plan for our market-leading mediation and
messaging product lines, as we continue to focus on our intellectual
property business and drive long-term profitability.”
Openwave will make further disclosures regarding its strategic
alternatives process as, and when, a specific transaction is approved by
the Board of Directors or it is otherwise determined that further
disclosure is appropriate or required by law.
About Openwave
Openwave Systems Inc. (Nasdaq:
OPWV) is a global software innovator and the inventor of the mobile
internet. Openwave established many of the foundational patents that
allow mobile devices to connect to the Internet. Over the years, the
company has built a patent portfolio of approximately 200 patents
covering many innovations spanning smart devices, cloud technologies
and unified messaging. Today Openwave provides all-Internet Protocol
(all-IP) mediation and messaging solutions that enable communication
service providers to create and deliver smarter services.
Building on its mobile data heritage, Openwave mobilizes the Internet
with data-driven solutions that comprehensively enhance IP traffic and
increase the value of the mobile network. Openwave arms its customers
with a 360-degree view of network activity plus the tools to help them
proactively optimize network resources (Congestion Control), react to
user behavior with smarter data plans and services (Price Plan
Innovation), and deliver a contextually relevant messaging experience
(Converged Messaging).
Openwave is a global company with a blue chip customer base spanning
North America, Latin America, Australia and New Zealand, Asia, Africa,
Europe, and the Middle East. Openwave is headquartered in Silicon
Valley, California.
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934, including statements regarding
Openwave’s expectations regarding its future strategic direction. All
statements other than statements of historical fact contained in this
press release are forward-looking statements. In some cases, you can
identify forward-looking statements by terminology such as “may,”
“will,” “should,” “expects,” “plans,” “anticipates,” “believes,”
“estimates,” “predicts,” “potential” or “continue” or the negative of
these terms or other comparable terminology. These statements are only
current predictions and are subject to known and unknown risks,
uncertainties and other factors that may cause Openwave’s actual
results, levels of activity, performance or achievements to be
materially different from those anticipated by the forward-looking
statements. These forward-looking statements are subject to a number of
risks, including the ability of Openwave to realize anticipated results
of its strategy, the ability of Openwave to deliver and capitalize on
the opportunities of its strategy, the ability of Openwave to execute
its strategy as well as those risk factors discussed in filings with the
U.S. Securities and Exchange Commission (“SEC”), including but not
limited to the Company’s Annual Report on Form 10-K filed on September
6, 2011, and any subsequently filed reports on Forms 10-Q and 8-K.
Openwave undertakes no duty to update or revise any of the
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date of this press release.
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