Press Release
FOR IMMEDIATE RELEASE
Smith Micro to Acquire Ecutel Systems, Inc.
Bowen Advisors Serves as Strategic Advisor for Ecutel Systems; Transaction Marks the Fourth Deal in Last Six Months for Boutique M&A Firm
Boston, MA (Feb 6, 2007) — Bowen Advisors, a leading strategic advisory, mergers and acquisitions firm for communications technology companies today announced its latest transaction — Smith Micro Software, Inc. (NASDAQ: SMSI), a developer and marketer of a wide range of software and services for the wireless market, has signed a definitive agreement to acquire privately held Ecutel Systems, Inc., a pioneering developer of standards-based, secure enterprise mobility software solutions.
"Smith Micro is one of the leading providers of mobile connectivity and management solutions and is an ideal buyer for Ecutel and its IPRoam mobile VPN product suite," said Paul Bowen, President of Bowen Advisors. "The market for 'any to many' remote enterprise system management technology — solutions that allow IT departments to seamlessly and securely connect and manage their businesses desktop and wireless PDA devices — is poised for significant growth in the next few years. With this acquisition, Smith Micro further strengthens its leadership position in this burgeoning market."
In the transaction, Bowen Advisors provided strategic advisory services to Ecutel Systems' board. The boutique mergers and acquisitions firm for communications technology companies is riding a wave of momentum as the Ecutel transaction marks its fourth deal in the last six months and first in 2007.
For more information on Smith Micro's acquisition of Ecutel Systems click here.
About Smith Micro Software:
Smith Micro Software, Inc., headquartered in Aliso Viejo, CA, is a developer and marketer of wireless communications and utility software products for multiple OS platforms. The company designs easy-to-use software for personal computing and business solutions around the world. With a focus on wireless and broadband technologies and the Internet, the company's products and services enable wireless communications, security and device management, file and image compression, digital image and music management. Smith Micro's complete line of products is available through retail stores, Value-Added Resellers (VARs), Smith Micro's consumer, enterprise, wireless sales groups and the company's websites. Smith Micro's common stock trades on The NASDAQ Global Market® under the symbol SMSI.
About Ecutel Systems, Inc.:
Ecutel Systems, Inc. is a pioneering provider of networking and enterprise mobility solutions. The company's next-generation, standards-based Mobility Gateway and software products bring together security and seamless mobility to improve productivity throughout all facets of the Mobile Enterprise, from simple and secure remote access for mobile workers to remote management for IT professionals on the go. Ecutel's products are currently sold worldwide and are used by hundreds of government, public safety, healthcare, education, and enterprise customers.
About Bowen Advisors:
Bowen Advisors is a mergers and acquisitions advisor focused exclusively on the communications technology market. We combine deep domain expertise in the sector gained from "line" experience holding senior management positions at communications technology companies blended with extensive transaction experience. Bowen Advisors' combination of singular focus and field proven expertise in finance and direct operations sets us apart. Our clients find our approach unique and critically valuable as they explore ways to maximize their growth potential and create value for their shareholders. Bowen Advisors was incorporated in 2002 and has its principle offices in Boston and San Francisco. Web site: www.bowenadvisors.com.
Media Contacts
John Gates
617-861-3651
john@elevatecom.com
Joshua Milne
617-861-3656
jmilne@elevatecom.com