July 19, 2007
Smith Micro Announces The Acquisition Of The Assets Of SMS And MMS Software Company
busineSMS Acquistion to Provide Instant Capability in Developing and Leveraging Value-Added SMS and MMS Products
ALISO VIEJO, CA – Smith Micro Software Inc. (NASDAQ: SMSI), a developer and marketer of a wide range of software solutions for the wireless market, today announced it has acquired the assets of busineSMS Software, a privately held Melbourne, Australia Company. The acquisition allows Smith Micro to leverage and develop busineSMS's existing messaging applications and expertise into software that will allow users to share multimedia content, automatically, from PC to mobile phone, and between mobile phones.
"Our customers have been interested in enhancing SMS and MMS services, and we are pleased to add these services to our Multimedia Solutions with the addition of busineSMS to our portfolio," said William W. Smith, Jr., President and CEO of Smith Micro Software. "busineSMS brings us the ability to enhance our SMS solution by providing the capability to seamlessly transfer multimedia rich files. With this acquisition, we expect to be in a position to offer our customers enhanced messaging solutions based on busineSMS's technology. Existing Smith Micro products will now be able to include these technologies, saving us from having to undergo software development that may have not yielded the results within our timeframe.
"We look forward to utilizing busineSMS's technology to develop additional products in the future," said Harry Fox, Vice President and General Manager of Smith Micro's Multimedia Group. "Messaging has emerged as one of the highest value revenue generators for our customers, and we are pleased to be developing cutting-edge products to help them to meet and to grow demand with unique and intuitive solutions."
About busineSMS Software:
busineSMS.com Software is a provider of software solutions for mobile messaging applications and web services. Its flagship product, the MercuryXMS Extreme Messaging Suite, accelerates mobile messaging development and deployment with a set of powerful and highly flexible solutions for mobile media.
About Smith Micro Software, Inc.:
Smith Micro Software, Inc., headquartered in Aliso Viejo, California, with offices in Europe and Asia, develops and markets wireless multimedia and communications solutions, mobile device management products, image and data compression solutions and many award winning software products. Smith Micro's complete line of products is available through Smith Micro's Enterprise, Channel and OEM Sales Groups, and direct from our websites, retail and value-added resellers (VARs) partners. Smith Micro's common stock trades on the NASDAQ Global Market under the symbol SMSI.
This release may contain forward-looking statements that involve risks and uncertainties, including without limitation forward-looking statements relating to the company's financial prospects and projections, the company's ability to increase its business and the anticipated timing and financial performance of new products and potential acquisitions. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are new and changing technologies, customer acceptance of those technologies, fluctuations or cancellations in orders from customers, new and continuing adverse economic conditions, and the company's ability to compete effectively with other software companies. These and other factors discussed in the company's filings with the Securities and Exchange Commission, including its filings on Forms 10-K and 10-Q, could cause actual results to differ materially from those presented in any forward-looking statements. Smith Micro assumes no obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of this press release.
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