SignalSoft Corp. Acquires mobilePosition AB - mobile location applications - Brief Article

Wireless Internet, July, 2001

SignalSoft announced that it has acquired mobilePosition AB, a Sweden-based company that develops consumer-oriented mobile location-based applications for wireless network operators. mobilePosition's applications are delivered to consumes through fixed and wireless Internet media, such as short message service (SMS) and wireless application protocol (WAP).

Based in Kista, Sweden's Wireless Valley, mobilePosition's current customers include Telia Mobile (Sweden) and Sonera (Finland). mobilePosition also brings SignalSoft additional marketing and distribution relationships with major industry players. The acquisition allows SignalSoft to immediately provide an extended range of corporate and consumer applications to wireless network operators worldwide.

Some examples include:

- friendPosition -- allows the user to search and communicate with a group of friends, and includes useful functionality such as the creation of buddy lists and favorite spots, as well as instant messaging.

- housePosition -- provides information about houses and apartments that are for sale in a selected geographic area.

- yatchtPosition -- gives access to local weather updates, location of the nearest harbor, gas station, grocery shop, and more for yachting enthusiasts.

The transaction nearly doubles the size of SignalSoft's operations in Europe. mobilePosition adds 35 employees to SignalSoft, including 20 technical staff, bringing the total number of employees in SignalSoft's worldwide operations to over 250 people. SignalSoft plans to maintain and grow the mobilePosition organization in Sweden, expand its product line, and build on the mobilePosition brand.

Under the terms of the transaction, shareholders of mobilePosition AB received approximately $1.5 million shares of SignalSoft common stock and $1.0 million in cash. SignalSoft was advised by Broadview, a global merger and acquisitions investment bank serving the IT, communications, and media industries.