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BRIEF-Birdstep Technology sells Birdstep Technology AB to Smith Micro Software for $2.0 mln
March 9, 2016 / 6:13 AM / a year ago

BRIEF-Birdstep Technology sells Birdstep Technology AB to Smith Micro Software for $2.0 mln

March 9 (Reuters) - Birdstep Technology ASA :

* Sells its wholly owned subsidiary Birdstep Technology AB to Smith Micro Software, inc. for $2.0 million

* Teki Solutions to be appointed Bird's qualified partner in cooperation with Smith Micro

* 2016 Bird and Teki Solutions shall share profits from cooperation with Smith Micro on a 50/50 profit split basis

* Definitive distribution and partner agreements are to be negotiated, and are expected to be entered into prior to EGM.

* Bird shall get certain rights to distribute and utilise Smith Micro's products in Nordic markets in cooperation with partner

* Enters into a letter of intent with Middelborg to pursue possibility of merger between Bird and subsidiary of Middelborg to be established

* Intends to conclude a merger agreement during Q2  Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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