EXHIBIT 99.1
FOR
IMMEDIATE RELEASE
SMITH MICRO ANNOUNCES ACQUISITION OF PCTEL’S MOBILITY
SOLUTIONS GROUP
Combination Expands Customer Base Globally and Complements
Mobility Software Portfolio
ALISO
VIEJO, CA— December 10, 2007 — Smith Micro
Software, Inc. (NASDAQ: SMSI), a leading developer and marketer of
software and services for the wireless market, and PCTEL, Inc., a
developer of wireless broadband solutions, announced a definitive
asset purchase agreement for Smith Micro Software to acquire
PCTEL’s Mobility Solutions Group (“MSG”) for
$59.7 million, to be paid at closing of the transaction.
PCTEL’s MSG, with their innovative technologies, has
pioneered mobility solutions for cellular and IP wireless networks
including advanced support for technologies such as 3G, Wi-Fi,
WiMax, VoIP and IMS software for converged mobile handsets. The
richly-featured portfolio of products serves wireless carriers,
device manufacturers, network solution providers and enterprise
customers with a complete range of communication clients for PC and
mobile handset platforms.
William
W. Smith, Jr., President and Chief Executive Officer of Smith Micro
Software, commented, “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. 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.”
Mr. Smith continued, “The Smith Micro Mobility Solutions
portfolio of products including connection managers for PCs and
mobile handsets with new support for WiMax and our next generation
IMS application framework will serve to strengthen our overall
leadership position in the wireless software space. We believe that
with the integration of PCTEL’s customers, technologies and
personnel, we will have achieved a significant milestone for the
Company and expect to see cont
