Purple Patch for Openwave exit
August 2008
The media:tech team at Livingstone Chicago has assisted Openwave, the global leader in developing innovative software applications and infrastructure for mobile phones and mobile service providers, in the divestment of its non-core Mobile Phone Software business unit .Paul Catalano, head of media:tech at Livingstone Chicago, was engaged to provide a fairness opinion to the Group’s ’s board regarding the potential sale. Drawing on their extensive experience of the mobile telecoms market, Paul and his team were able to quickly value the business and validate the market appetite for such assets.
The buyer, Purple Labs S.A., a French venture-backed company that develops mobile applications for 3G phones, now has a world-class product line and customer base for accelerated growth. The transaction allows Openwave to focus on its core products of network-based infrastructure, and to generate cash for investment in future growth in this sector.
For further information contact:
Paul Catalano
Tel: 00 1 312 670 5916
Email: catalano@livingstonepartners.com
If you would like to receive more details about any of the events underlying any of the news items or press releases above, please email Ann Wilson.
