Imagination Dreams up Acquisition for Hellosoft
Imagination, a communications and embedded processor technology company, has agreed to acquire Hellosoft, a leading provider of VoIP and wireless LAN technologies, under provisional terms. Maximum consideration is set at $47 million, $20.2 million of which is an upfront cash payment, while the remaining $26.9 million is performance-related over the next three years.
“Having already worked together as technology partners for a number of years, I am delighted that the HelloSoft’s team has agreed to join forces with Imagination. Together we will be able to deliver a leading edge and seamless media and connectivity proposition that will ride and drive the emerging trends, accelerate time-to-market, enhance the quality of the result and ultimately benefit our customers,” says Imagination CEO Hossein Yassaie.
We’re seeing a good amount of growth in the VoIP sector, with Skype after its IPO, Vodafone making big moves, and a rise in product-related developments from home networking companies, like Cisco and Logitech. Google Voice is penetrating the market on several levels, breaking the iPhone barrier earlier this week. As business apps grow in demand, and telecommunications becomes a viable market, VoIP is riding the wave of growing network access, and finding more points of access for various user types.
Hellosoft’s technology highly complements Imagination’s existing technologies. Some of the acquisition highlights include:
# Provides access to leading edge and highly respected V.VoIP technology
# Complements Imagination’s existing and successful POWERVR multimedia processing IP cores to enable optimised end-to-end media-over-internet protocol solution
# Secures full control of WiFi technology and roadmap that is already used by Imagination in relation to its Universal Programmable Communication Platform
# Secures access to new channels in the telecommunications market to operators/service providers and OEMs/product companies which operate at a higher level in the overall technology value chain
# Adds a capable management team to complement Imagination’s existing resources and help to further scale the company for the ongoing growth, client coverage and relationships
Krishna Yarlagadda, HelloSoft’s founder and CEO will take the position of President at Imagination Technologies USA.
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