Smith Micro Software Announces Acquisition of Allume Systems Inc.
05 7월 2005 - 9:00PM
PR Newswire (US)
Smith Micro Software Announces Acquisition of Allume Systems Inc.
Company Combination Will Offer Wireless Carriers and Handset
Manufacturers Industry Leading Compression Technology in an
Offering to Be Known as StuffIt Wireless ALISO VIEJO, Calif., July
5 /PRNewswire-FirstCall/ -- Smith Micro Software Inc.
(NASDAQ:SMSI), a developer and marketer of a wide range of software
and services for the wireless market, today announced it has
acquired Allume Systems, Inc., a wholly owned subsidiary of
International Microcomputer Software Inc. (IMSI) (OTC:IMSI)
(BULLETIN BOARD: IMSI) . Allume is a leading provider of
compression software solutions that enable state of the art
compression, security and archiving of data including JPEG, MPEG
and MP3 platforms. The Company's pioneering product suite known as
StuffIt(R) has been a de facto industry standard since 1986. Allume
recently announced the development of a new JPEG compression
technology that reduces the size of JPEG images up to 30% in size
without any additional reduction of image quality. The company is
planning to expand the technology to provide similar compression
for MPEG and MP3 files. This technology plays directly into Smith
Micro's strategy of broadening its wireless product offerings and
provides for the first time to carriers and handset manufacturers
enhanced compression technology that could reside directly in the
handset. "We are very excited to bring Allume Systems, Inc. into
the Smith Micro family, said William W. Smith, Jr., Smith Micro's
President and CEO. "Allume's compression technology and their
talented employees bring us a new opportunity as we continue to
expand our product offerings to wireless carriers and handset
providers. With the explosive expansion of camera wireless phones
and mobile devices, handset providers continue to need additional
storage for all of this data, be it pictures, full motion video or
audio. The patent pending technology from Allume provides a very
cost effective answer for our customer base." Through the
agreement, Smith Micro will pay $11 million in cash and $1.75
million in Smith Micro shares to purchase all outstanding shares of
Allume. During the first calendar quarter of 2005, Allume
contributed $2.5 million to IMSI's $6.4 million net revenue. We
believe the acquisition is accretive immediately to Smith Micro.
The company will hold a conference call today at 8:00 am EDT
Tuesday, July 5, 2005 to further discuss the details of the Allume
acquisition. Investors may access the conference call over the
Internet via the company's website http://www.smithmicro.com/ or at
http://phx.corporate-ir.net/playerlink.zhtml?c=107760&s=wm&e=1093467.
About Allume Systems, Inc. Founded in 1988, Allume Systems, Inc.,
develops and publishes award-winning software solutions for
Macintosh and Windows. Allume's leading brands are StuffIt(R),
Internet Cleanup(TM) and Spring Cleaning(R), Personal
ImageManager(TM). Formerly known as Aladdin Systems, Allume enables
people and businesses to communicate and manage their ideas and
information. Allume's software offers a range of solutions,
empowering people and businesses in the areas of information
access, removal, recovery, security, productivity and Internet
distribution. About Smith Micro Software Smith Micro Software,
Inc., headquartered in Aliso Viejo, CA, is a developer and marketer
of wireless communication and utility software products for
multiple OS platforms. The company designs integrated cross
platform, easy-to-use software for personal computing and business
solutions around the world. With a focus on the Internet and
Wireless and Broadband technologies, the company's products and
services enable wireless communications, eCommerce, eBusiness,
Internet communications (voice-over-IP), video conferencing,
network fax, and traditional computer telephony. Smith Micro's
complete line of products is available through original equipment
manufacturers (OEMs), direct sales, retail stores, and value-added
resellers (VARs). Smith Micro's common stock trades on The Nasdaq
Stock Market(R) under the symbol SMSI. For more information,
contact Smith Micro at (949) 362-5800 or visit the company's Web
site at http://www.smithmicro.com/. This release may contain
forward-looking statements that involve risks and uncertainties,
including without limitation risks and uncertainties relating to
the company's financial prospects and projections, the company's
plans for returning to sustained profitability and the company's
ability to increase its business in the Wireless and Broadband
segments. Among the important factors that could cause actual
results to differ materially from those in the forward-looking
statements are new and changing technologies, customer acceptance
of those technologies, fluctuations or cancellations in orders from
distribution customers, new and continuing adverse economic
conditions, and the company's ability to compete effectively with
other software companies. These and other factors could cause
actual results to differ materially from those presented in any
forward-looking statement and are discussed in the company's
filings with the Securities and Exchange Commission including its
recent filings on Forms 10-K and 10-Q. Smith Micro, Smith Micro
logo, StuffIt, Internet Cleanup, Spring Cleaning(R), and Personal
ImageManager are trademarks or registered trademarks of Smith Micro
Software, Inc. All other marks are properties of their respective
owners. DATASOURCE: Smith Micro Software, Inc. CONTACT: Bruce T.
Quigley ,Vice President of Business Development and Investor
Relations of Smith Micro Software, Inc., +1-949-362-5800, ; or IR
Inquiries, Charles Messman, or Todd Kehrli, both of MKR Group,
+1-818-556-3700, , for Smith Micro Software, Inc.; or Media
Inquiries, Steve Simon of S&S Public Relations,
+1-847-955-0700, , for Smith Micro Software, Inc. Web site:
http://www.smithmicro.com/
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