Thursday, January 12, 2012

Openwave for sale, Sandvine's buyback, Comverse's Spin-off

Openwave Systems Inc. (Nasdaq: OPWV): 
Openwave announced today that their board of directors has decided to "pursue strategic alternatives"  for the company's mediation and messaging products business.
While this is hardly a surprise, if you have followed the saga over the last year (here, here, here, here and here) it is till sad to see one of the great companies who shaped the mobile internet divest their assets. The company is not completely up for sale, only the product business is, while the board and management team are trying to monetize further their patent portfolio through licensing deals, such as the one with Microsoft, that brought $m18 last quarter.
For a full list of potential acquirer of Openwave assets, don't hesitate to contact me through linked in or my email, at the top right of this page.

Sandvine Corporation (TSX:SVC) (AIM:SAND):
On the heels of reporting their Q4 and fiscal 2011 results ( Q411:$20.6 million revenue GAAP net loss of 3.6 million (non-GAAP1 loss of $2.8 million); fiscal 2011 revenue $89.3 million and GAAP net loss 5.8 million (non-GAAP1: $2.2 million loss)) and 44 new customers, announced that its Board of Directors has approved the adoption of an open market stock buyback program for the purchase of up to approximately 12 million common shares ("Shares") over a one-year period.

 Comverse Technology(CMVT)
Comverse technology is the holding structure behind Comverse and Verint. It has announced that it will distribute the share of its wholly owned subsidiary Comverse to their shareholders on a prorata basis. The move is an effort to create a more tax efficient structure and unlock some of the value. The investors welcomed the news with disappointment as the were hoping for a full buyout through M&A.

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