Openwave Plans Review of Strategic
Options; Appoints New CEO
Press Release -
March 27, 2007
Mobile software developer, Openwave Systems, announced yesterday
that it had enlisted Merrill Lynch & Co. as its financial advisor
for a review of strategic options, including the possibility of
selling the business to an outside buyer.
“Openwave’s Board of Directors is committed to taking all appropriate
and necessary action to enhance value for all stockholders,” explained
the company’s chairman, Bernard Puckett. “As the Board reviews the
range of alternatives available, we remain committed to ensuring the
long-term growth and viability of Openwave’s products and solutions,
continuing to support our longstanding customer base with world class
service, and acting in the best interests of our stockholders,
customers and employees.”
Openwave also appointed executive VP of Worldwide Field Operations,
Robert Vrij, as its new CEO, effective immediately, due to David
Peterschmidt’s recent resignation from that position.
Known for its mobile messaging, email, and wireless web solutions,
Openwave has installed its industry-leading Mobile Browser software on
over a billion mobile devices, approximately 49% of all
browser-enabled cell phone shipments.
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