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 Announces Definitive Agreement To Sell Mediation And Messaging Product Businesses To Marlin Equity Partners

Openwave Systems Inc. (NASDAQ:OPWV), a global software innovator and the inventor of the mobile internet, today announced that it has signed a definitive agreement to sell its Mediation and Messaging product businesses to Marlin Equity Partners. The transaction is subject to customary closing conditions and is expected to close in April 2012.

Following the completion of the transaction, Marlin intends to rename the acquired businesses Openwave Mobility (formerly Mediation) and Openwave Messaging. The businesses will be managed by the incumbent divisional management teams.

Openwave’s remaining entity will be renamed Unwired Planet, a name that recalls the company’s rich heritage of innovation; it will be focused on Intellectual Property and will remain a publicly traded company. Openwave’s patent portfolio is comprised of approximately 200 issued US and foreign patents and another approximately 75 pending applications, many of which are considered foundational to mobile communications. Openwave intends to provide further details on its plans for Unwired Planet in conjunction with its third quarter of fiscal 2012 financial results conference call.

“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,” said Mike Mulica, CEO of Openwave. “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.”

“This transaction gives us the opportunity to create two leading software companies focused on providing carrier-grade solutions in the Mobility and Messaging segments,” stated Nick Kaiser, a partner at Marlin Equity. “We plan to make the necessary investments in both businesses to continue to deliver market-leading software to Openwave’s global customer base. We look forward to partnering with Openwave’s talented employees and executives to deliver solutions that maximize the value of an operator’s network assets.”

1 of 3

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
AAPL $93.83 0.20%
FB $118.57 0.00%
GOOG $698.21 0.00%
TSLA $238.90 -1.20%
YHOO $36.53 0.00%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs