Smith Micro Buys Mobility Software Firm

Aliso Viejo-based Smith Micro Software has acquired a developer of wireless handset software, Core Mobility, the firm said Monday afternoon. Smith Micro said the deal is worth $10M in cash plus 700,000 shares of its common stock, or approximately $18.6M. Core Mobility is a developer of mobile synchronization and backup software. Smith Micro said that Core Mobility will become a wholly owned subsidiary of the firm.