Significantly Enhances Smith Micro's Position in the eBusiness Consulting Marketplace
ALISO VIEJO, CA - Smith Micro Software, Inc. (Nasdaq: SMSI), a developer and marketer of a wide range of software and service solutions for the wireless and Internet markets, today announced the acquisition of the eBusiness consulting practice of QuickStart Technologies, Inc., a provider of integrated Internet business services to middle market companies. The transaction, which closed on September 26, will complement and broaden the eBusiness consulting activities of Smith Micro's Internet Solutions Division, headquartered in San Diego.
Over the last decade, QuickStart has built a comprehensive suite of services to assist middle market clients in planning, implementing and supporting eBusiness initiatives. Called Total e-Business(SM), the suite includes eBusiness strategy and marketing, eCommerce, customer relationship management, business intelligence and infrastructure solutions to help companies identify, acquire, manage and retain customers. Services are available on an individual basis or as a turnkey solution that facilitates rapid deployment.
QuickStart has developed methodologies to help clients focus, define and prioritize Internet investments; develop eCommerce sites and custom eBusiness applications; implement tools to increase revenue per online transaction and transactions per customer; warehouse, mine and integrate data for enhanced accessibility and effective decision support; and select the right technology infrastructure to support a world-class eBusiness.
QuickStart's eBusiness consulting practice combined with Smith Micro's Internet Solutions Division, will significantly expand the division's talent as well as adding depth to its existing eBusiness consultancy. The combined group will also enlarge Smith Micro's client portfolio with QuickStart's customer base of well-known firms throughout the Orange County, Los Angeles and San Francisco areas.
"This acquisition will allow us to leverage our web consulting strengths while also penetrating new markets and diversifying our current business model," said William W. Smith, Jr., President and CEO of Smith Micro. "By building on our expertise in the eCommerce arena and broadening our ability to provide a total eBusiness solution, we believe the addition of QuickStart's consulting practice to our own will play a significant role in the growth of our Internet Solutions Division."
"QuickStart's consulting team's technical talent, client base, and partner relationships provide an excellent complement to Smith Micro's strong brand, substantial marketing and development resources, and exceptional depth in eCommerce applications," said Mitch Argon, President of QuickStart Technologies, Inc. "With this transaction completed, QuickStart will now be able to focus 100% on its core information technology training business."
Smith Micro purchased the assets of QuickStart for 100,000 shares of SMSI common stock and a dollar earn-out not to exceed $150,000. The transaction is subject to SEC Rule 144.
About Smith Micro Software
Smith Micro Software, headquartered in Aliso Viejo, CA, is a developer and marketer of eCommerce and communication software products and services. The company designs integrated, cross platform, easy-to-use software for personal computing and business solutions around the world. With a focus on the Internet, Wireless, and Broadband technologies, the company's products enable eCommerce, Internet communications (voice-over-IP), video conferencing, wireless communications, and network fax, along with traditional computer telephony.
Smith Micro's complete line of products is available through direct sales, retail stores, value-added resellers (VAR's) and original equipment manufacturers (OEM's). Smith Micro's common stock trades on The Nasdaq Stock Market® under the symbol SMSI. For more information, contact Smith Micro at (949) 362-5800.
This release may contain forward-looking statements that involve risks and uncertainties. Among the important factors which could cause actual results to differ materially from those in the forward-looking statements are economic, competitive, governmental and technological factors affecting the company's operations, markets, products, services and prices, as well as other factors detailed in the company's filings with the Securities and Exchange Commission including its recent filings on Forms 10-K & 10-Q.
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