Thursday, November 5, 2009
Smith Micro Completes Core Mobility Buy, Cuts Outlook
Aliso Viejo-based Smith Micro Software said late Wednesday that it has completed its acquisition of Core Mobility, a developer of wireless handset software. Smith Micro had earlier said the deal was worth approximately $18.6M. Smith Micro said the buy will help it provide customers with embedded mobile software solutions focused on the handset. The announcement came along with Smith Micro's Q3 results, where the firm said it is lowering its guidance for full fiscal year 2009 revenues to $105-110M, down from $110-115M, as a result of a "continuing negative economic environment."