Voice Mobility International, Inc. and FWB: announced that it has entered into a Letter of Intent to sell certain assets to Applied Voice & Speech Technologies, Inc. (AVST). The principal assets being sold in this transaction are the Voice Mobility UCN250 software as a service (SaaS) platform and all related technology and customers. Terms of the transaction were not disclosed.
The UCN250 is a highly scalable and reliable Linux and SIP-based SaaS platform that will be integrated into AVST’s unified communications (UC) solution portfolio to accelerate AVST’s ability to address the evolving communications requirements of current and future AVST customers.
Jay Hutton, Chairman and CEO of Voice Mobility commented, “This partnership constitutes a critical part of the restructuring of Voice Mobility and the realignment of our strategic focus. Our partnership with AVST extends beyond today’s announced technology acquisition and is expected to be long-term in nature as Voice Mobility prepares to launch a suite of secure cloud-based UC services that will be sold directly into the SMB market. We are excited to collaborate with AVST as VMI’s UC solutions partner leveraging the UCN250 SaaS platform to create a secure, mobile-centric UC services portfolio. We will develop this offering in close consultation with AVST and expect to work together in taking it to market. We believe that this long-term strategic technology partnership with AVST will enable us to bring UC solutions to market more expeditiously than we might otherwise on our own.”
According to AVST President & CEO, Hardy Myers, “The acquisition of VMI’s UCN250 technology fits perfectly with our strategic objective to be an industry leader in delivering best of breed and highly-interoperable premise-based, hybrid and cloud-based UC solutions.”
Closing of the transaction is subject to certain conditions precedent, including the execution of a definitive purchase agreement and satisfactory completion of due diligence by AVST. Closing is expected to occur on or before December 31, 2010.
