Smith Micro Software, Inc. (NASDAQ: SMSI) has announced that it has entered into a definitive agreement to acquire the assets of ISM Connect, LLC´s Smart Retail product suite, the company said.
The powerful Smart Retail platform enables wireless carriers and retailers to bring devices to life with on-screen, interactive demos that deliver consistent, targeted and secure content, including messaging and advertising campaigns.
Smart Retail will be a substantial augmentation to Smith Micro´s business and a logical addition to a product line that targets wireless carriers. This acquisition will deliver a new, growing revenue stream and an expanded customer base.
Pursuant to the terms of the transaction, Smith Micro will acquire the assets of ISM Connect Smart Retail product suite for a purchase price of approximately USD 9.8 million, consisting of USD 4 million payable in cash and USD 5.8 million payable through the issuance of Smith Micro common stock.
The transaction is expected to close upon satisfaction of customary closing conditions as specified in the asset purchase agreement for the transaction.
Smith Micro develops software to simplify and enhance the mobile experience, providing solutions to some of the wireless service providers and Cable MSOs around the world. For more information, visit www.smithmicro.com.
ISM is an industry innovator building the world´s first fully integrated network of smart engagement technology. ISM´s network of over 100 venues reaches an audience of nearly 110 million consumers. ISM modernizes the way fans experience events, brands market and venues present themselves. For more information, visit www.ismconnect.com.