Smith Micro Software, Inc. completed the acquisition of assets of Smart Retail product suite of ISM Connect, LLC.
January 08, 2019
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Smith Micro Software, Inc. (NasdaqCM:SMSI) entered into a definitive agreement to acquire the assets of Smart Retail product suite of ISM Connect, LLC for $9.3 million on December 17, 2018. Under the terms of consideration, Smith Micro will pay $4 million in cash and will issue 2.3 million of common stock of Smith Micro Software and will also issue 0.4 million of common stock to be held in escrow pursuant to the Escrow Agreement. The transaction is subject to customary closing conditions and is expected to be immediately accretive for Non-GAAP. Robert B. Goldberg of Ellis Funk, P.C. served as legal advisor to ISM Connect, LLC. Adam G. Wicks, Brian S. Novosel and Jennifer R. Minter of Buchanan Ingersoll & Rooney PC served as legal advisors to Smith Micro Software, Inc. Derick Schaudies of Leonis Partners acted as financial advisor to ISM Connect.
Smith Micro Software, Inc. (NasdaqCM:SMSI) completed the acquisition of assets of Smart Retail product suite of ISM Connect, LLC on January 9, 2019. Smith Micro will rename the smart retail platform as ViewSpot.
Smith Micro Software, Inc. develops software to simplify and enhance the mobile experience, providing solutions to wireless service providers around the world. It operates through the Wireless segment. From enabling the family digital lifestyle to providing voice messaging capabilities, its solutions enhance connected lifestyles while creating new opportunities to engage consumers via smartphones and consumer Internet of Things (IoT) devices. Its portfolio also includes a range of products for creating, sharing, and monetizing content, such as visual voice messaging, optimizing retail content display and performing analytics on any product set. Its products include SafePath, ViewSpot, and CommSuite. SafePath consists of SafePath Family, SafePath IoT, SafePath Home, and SafePath Premium. The SafePath product suite provides tools to protect family digital lifestyles and manage connected devices both inside and outside the home. ViewSpot is its retail display management platform.
SMITH MICRO SOFTWARE, INC. 
