Smith Micro Buys PCTEL Mobility Solutions Group

Aliso Viejo-based Smith Micro Software, a publisher of software for the mobile and other markets, said Monday that it has entered into a definitive asset purchase agreement to acquire PCTEL's Mobility Solutions Group. The deal is worth $59.7M. PCTEL's group develops software for the 3G, Wi-Fi, WiMax, VoIP, and IMS markets. Smith Micro said the acquisition will expand its technology portfolio, and help it to broaden its customer base.