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Openwave's client business sold to Purple Labs

By P J Connolly

August 1, 2008 — A supplier of Linux technology for mass-market 3G mobile phones has expanded its business by purchasing the client offerings of a developer of personalized mobile services.

Purple Labs and Openwave Systems have reached an agreement that calls for Openwave to hand over its client business and related handset manufacturer relationships to Purple in exchange for US$30 million in cash; warrants to buy 2% of Purple Labs’ common stock; and, if certain conditions are met, another $2 million. In addition, Openwave will provide services to Purple for a period up to six months long and will be responsible for the first $2 million of transition service costs.

Purple Labs CEO Simon Wilkinson said as part of the announcement that “by acquiring this portfolio and the Openwave client team, Purple Labs becomes a global leader in mobile software, powering both traditional and Linux-based mass-market phones.”

Openwave’s interim CEO, Bruce Coleman, explained in a prepared statement that the company wants to refocus away from handsets to its network-based offerings.

Purple Labs is based in Chambéry, France, and is funded by three European venture capital firms: Earlybird Venture Capital, Partners Group and Sofinnova Partners. Openwave has its headquarters in Redwood City, Calif.

Related Search Term(s): Embedded development, Linux, Openwave, Purple Labs

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Openwave's client business sold to Purple Labs Announced in June, the deal puts US$30 million of Purple's cash into Openwave's hands, along with warrants for 2% of Purple's common stock. Purple intends to expand its presence in the mobile software business while Openwave will focus on its network-based services.

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Openwave's client business sold to Purple Labs
Announced in June, the deal puts US$30 million of Purple's cash into Openwave's hands, along with warrants for 2% of Purple's common stock. Purple intends to expand its presence in the mobile software business while Openwave will focus on its network-based services Read More...

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