Wireless software and services developer Smith Micro Software announced a definitive asset purchase agreement to acquire wireless broadband solutions developer PCTel's Mobility Solutions Group for $59.7 million. Smith Micro acquires a portfolio of mobile solutions supporting 3G, WiFi, WiMAX, VoIP and IMS software for converged mobile handsets. PCTel's partners include mobile operators, device manufacturers, network solution providers and enterprise customers. "PCTEL's Mobility Solutions Group is the ideal complement to our existing technologies and plays to our strength in key growth markets in the wireless software universe," said Smith Micro Software president and CEO William W. Smith, Jr. in a prepared statement. "This acquisition not only expands our technology portfolio, but it is a significant step in the evolution of our business. This transaction will enable us to significantly broaden our customer base."
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