Posted on 29-Jun-2005 09:56
| Filed under: News
Semotus Solutions Inc. has acquired control of Clickmarks Inc., an integration and mobilization software company. The boards of both companies and the shareholders of Clickmarks have approved the transaction. Semotus acquired 100% of the issued and outstanding capital stock of Clickmarks, Inc. for 4,107,982 shares of common stock.
Clickmarks technology enables the on-demand enterprise by leveraging existing IT investments to deliver workflow automation, portal integration, and mobilization solutions. Clickmarks Presentation Level Integration (PLI) technology enables rapid creation of composite applications and web services out of existing backend systems, which may be delivered via web, portal, and mobile front-ends. Customers of its integration technology and solutions include Vodafone, Unisys, Sun Microsystems, Verizon Wireless, US Geological, City/County of San Francisco, and NTT Docomo.
"Clickmarks is an excellent fit with our Wireless Enterprise offerings, giving us a versatile mobile middleware with backend integration as well as a growing revenue stream and a strong customer base. Clickmarks has leveraged $27 Million of invested capital into an elegant software platform with a Fortune 1000 customer base," said Anthony N. LaPine, Semotus Solutions. Chairman and CEO. "In addition to Clickmarks. clear fit with our organization, business strategy, and product line, the Company also brings a strong management team of MIT alumni who will significantly strengthen the executive staff at Semotus."
As part of the acquisition, Clickmarks. two MIT trained co-founders, Umair Khan and Christine Odero, and the rest of the Clickmarks team, Sudhir Kulkarni, Adnan Lawai, Fawad Quadri, Vladimir Soskov, Jitendra Balkundi and Lqbal Singh will join Semotus.
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