This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Openwave Sells Location Business To Persistent Systems

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. It holds Openwave is headquartered in Silicon Valley, California.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,719.92 -78.57 -0.44%
S&P 500 2,080.41 -9.70 -0.46%
NASDAQ 5,108.6660 -18.8590 -0.37%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs