London, UK – December 6, 2016
Woodside Capital Partners International LLC, a global, independent investment bank, announces it acted as the exclusive financial advisor to Birdstep Technology ASA (“BIRD”), in the acquisition by Smith Micro Software, Inc. (NASDAQ:SMSI) of Birdstep Technology AB.
The transaction will add substantial technical resources, including engineers fully trained in wireless connectivity technology, to support the growth of Smith Micro’s business, and enables the company to expand its market presence and customer base in APAC and EMEA.
“Birdstep has been our primary competitor in policy driven solutions designed to optimize the utilization of wireless networks. The acquisition brings trained resources and complementary technology to support the new customers we added at the end of 2015, and will continue to add in 2016,” said William W. Smith Jr., President and CEO of Smith Micro Software. “In addition, Birdstep has a presence in APAC and EMEA that will enable us to re-emerge and expand our customer base in these markets. Operators and OEMs that use Birdstep solutions will benefit from a stronger combined portfolio and roadmap, and the confidence of gaining a partner with decades of experience and innovation in wireless software.”
Birdstep’s wireless network optimization solutions have been used by operators and OEMs to provision, analyze, select, control, and commercialize Wi-Fi and cellular networks. Based in Stockholm, Birdstep generated revenue of approximately $6.8 million in its fiscal year ended December 31, 2015, based on unaudited financial results.
About Smith Micro Software, Inc.
Smith Micro provides software to simplify and enhance the mobile experience. Our network access, insights, and optimization solutions ensure the best Quality of Experience for wireless users, while embedded mobile software creates new opportunities for wireless service providers and B2C businesses to engage with consumers via smartphones. Our portfolio also includes content monetization solutions such as visual messaging, video streaming, and a variety of 2D and 3D graphics applications. For more information, visit smithmicro.com. (NASDAQ: SMSI)
About Woodside Capital Partners
Woodside Capital Partners is a global, independent investment bank that delivers world-class strategic and financial advice to emerging growth companies in the technology and life sciences sectors. With a strong track record in M&A, strategic partnerships and private placements, Woodside Capital Partners has been providing worldwide investment banking services since 2001 with leading domain experience in software, Internet services, electronic communications and materials, and healthcare. The team of Woodside Capital Partners has completed transactions totaling more than $10 billion. Woodside Capital Partners is the Silicon Valley headquarters of M&A International, the world’s leading mergers and acquisitions alliance. Securities offered through Woodside Capital Securities LLC, member FINRA/SIPC.
Press Release Contact:
Woodside Capital Partners UK LLP