International law firm Bird & Bird has been advising new client, Openwave Systems Inc., which provides software solutions for the communications and media industries, on the UK elements of its acquisition of WiderWeb Limited, a leading developer of mobile web access solutions.
The acquisition provides Openwave with an open internet browsing solution that re-formats web content for mobile phones in a highly optimised, compressed and standards-based XHTML/MP format. The purchase consideration comprised $5 million in cash and a potential $4 million contingent earn-out.
Bird & Bird acted in conjunction with Openwave in-house counsel Michelle Johnson, and with Openwave's US advisers Cooley Godward Kronish. The Bird & Bird team was led by Matt Dennis (Corporate, partner) and comprised Helen Dyson (Commercial), Peter Fisher (Tax) and James Froud (Employment).