Monday, April 16, 2012

Openwave Sells Units To Marlin Equity Partners

Redwood City-based Openwave Systems announced today that it has sold off two of its product businesses, its Mediation and Messaging product lines, to private equity firm Marlin Equity Partners. Financial details of the transaction were not announced. Openwave said its two new businesses will be renamed Openwave Mobility and Openwave Messaging, and will continue to be managed by their existing business management teams. Openwave said it will rename its existing entity as Unwired Planet, focused in intellectual property and patent licensing. Openwave was advised by Jeffries & Company in the deal. Openwave has been looking to sell its products and focus on IP since at least January, when it hired Jeffries to shop the firm's assets.