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Monday, April 16, 2012

Openwave agrees to sell its traffic management and messaging businesses

Openwave Systems, well-known for its mobile browser technology, has agreed to sell its mediation and messaging product businesses to Marlin Equity Partners. The businesses will then be renamed as Openwave Mobility and Openwave Messaging, while Openwave’s remaining business unit will be renamed Unwired Planet.

Unwired Planet will be focused on Openwave’s portfolio of approximately 200 patents and 75 pending applications. More details of its plans will be revealed alongside its third quarter financial results.

Mike Mulica, CEO of Openwave. said “Our agreement with Marlin Equity to sell our Mediation and Messaging product businesses represents a major milestone in the implementation of the corporate strategy we began last October. We believe this transaction is in the best interests of our customers, employees and shareholders. We are very impressed with Marlin Equity’s strategy for the businesses and their plans to make Openwave’s products and services more competitive through increased focus and investment in R&D. As we complete the sale of our product businesses, we will continue to focus on a multi-pronged strategy to realize the value of our unique patent portfolio.”

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Author: The Fonecast
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