Birdstep Technology has announced that it has sold its wholly owned subsidiary Birdstep Secure Mobility to Elektrobit Technologies (EB) for EUR 1.9 million in cash. Finland-based EB, a leading provider of cutting-edge embedded technology solutions for the automotive and wireless industry develops advanced technology and transforms it into enriching end user experiences.
According to Birdstep, Secure Mobility will move into an area of business within EB’s Wireless Business Segment that will allow them to focus and grow through EB's presence in the market, their customers, their economic position and a close alignment with their strategic vision.
Lonnie Schilling, CEO of Birdstep Technology ASA
Birdstep Technology ASA will focus entirely on our major area of growth, Smart Mobile Data services, offering advanced solutions for Mobile Network Operators, Cable Network Operators and device manufacturers. With this transaction Birdstep is provided greater opportunity and stronger position in a rapidly growing market.
Tom Nyman, Chairman of the Board
We're very pleased that Birdstep has completed the sale of Secure Mobility. Even though the company has strived to find synergies for Secure Mobility and Smart Mobile Data the strategic direction for the different business areas has further diverged. With this transaction Birdstep provides opportunity and foundation for both to focus, grow and to create stronger positions in the market.
