Openwave Transfers Mediation, Messaging Product Businesses to Marlin Equity Partners
Openwave Systems, Inc. recently announced it will sell its Mediation and Messaging product businesses to Marlin Equity Partners. The company signed a definitive agreement to sell to Marline Equity Partners by the end of April 2012.
Openwave Systems is a global software innovator and the inventor of the mobile internet.
"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,” said Mike Mulica, CEO of Openwave. “We believe this transaction is in the best interests of our customers, employees and shareholders. 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."
The final purchase will rename the acquired businesses Openwave Mobility (formerly Mediation) and Openwave Messaging. The incumbent divisional management teams will be responsible for overseeing these businesses.
"This transaction gives us the opportunity to create two leading software companies focused on providing carrier-grade solutions in the Mobility and Messaging segments,” said 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."
Openwave final entity will also be renamed and called Unwired Planet. This name has been carefully chosen to reflect the company's rich tradition innovation and will focus on Intellectual Property and will continue to be a publicly traded company.
Edited by Braden Becker