Openwave to Sell Product LinesOpenwave to Sell Product Lines

Vendor reiterates focus of business on intellectual property initiative

January 12, 2012

1 Min Read

REDWOOD CITY, Calif. -- Openwave Systems Inc. (Nasdaq: OPWV), a global software innovator and the inventor of the mobile internet, announced today that its Board of Directors has determined to pursue strategic alternatives for the company's mediation and messaging products business. The pursuit of strategic alternatives is designed to focus the company on its intellectual property initiative and drive long-term profitability. Openwave has retained Jefferies & Company, Inc. as its exclusive financial advisor in connection with its strategic review.

"We have made significant investments in our products over the past several years. We believe our strategy will enable us to derive the maximum value from our innovative and market-leading messaging and mediation product lines for both our shareholders and our customers," said Mike Mulica, CEO of Openwave. "Moving forward, we are focusing our efforts on a multi-pronged strategy to realize the value of Openwave's patents that are foundational to the mobile internet."

Openwave will make further information available as, and when, a specific transaction or transactions occur.

Openwave Systems Inc. (Nasdaq: OPWV)

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