Persistent Systems Acquires Openwave’s Location Business
February 15, 2012 By: Janice PartykaSoftware product development services firm Persistent Systems has acquired Openwave Systems' location business. Terms were undisclosed.
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 spanning smart devices, cloud technologies and unified messaging. Openwave provides all-Internet Protocol (all-IP) mediation and messaging. Openwave indicates it will focus on its intellectual property initiative. In January, Wedbush analyst Scott Sutherland told Reuters that Openwave's patents could be valued at $300 million.
“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 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.”
Persistent Systems delivers cloud computing, mobility, analytics and collaboration services to more than 300 businesses across North America, Europe and Asia.
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