Smith Micro to Acquire Smart Retail Product Suite from ISM Connect

▤ Summary

ALISO VIEJO, Calif.--( BUSINESS WIRE )--Smith Micro Software, Inc. ( NASDAQ: SMSI ) (“Smith Micro” or the “Company”) today announced that it has entered into a definitive agreement to acquire the assets of ISM Connect, LLC’s Smart Retail product suite.“This acquisition will not only add a significant and valuable third leg to the Smith Micro wireless business, but will also give us access to an incredibly talented base of experienced employees who understand the industry and will be able to build on our core expertise.”With its combination of engaging promotional content and actionable intelligence, the Smart Retail platform is a valuable tool that carriers can use to improve sales and profitability.A Current Report on Form 8-K containing further details regarding the asset purchase agreement and the terms of the transaction will be filed by the Company and will be available on the SEC’s EDGAR database as well as on the Company’s website under the Investor Relations section.Certain statements in this press release are forward-looking statements regarding future events or results, including statements related to the anticipated closing of the Smart Retail product line acquisition and our expectations regarding the future profitability of the Smart Retail business, the accretive nature of the acquisition and the timing thereof, the anticipated benefits to the Company of acquiring the Smart Retail business, and statements using such words as “expect,” “anticipate,” “believe,” “plan,” “intend,” “could,” “will” and other similar expressions.Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those expressed or implied in the forward-looking statements.Among the important factors that could cause or contribute to such differences are our ability to close the Smart Retail product line transaction as expected, our ability to integrate the Smart Retail business with our existing operations, our ability to continue as a going concern, our ability to raise more funds to meet our capital needs, changes in demand for our products from our customers and their end-users, customer concentration, given that the majority of our sales depend on a few large customer relationships, new and changing technologies, customer acceptance and timing of deployment of those technologies, and our ability to compete effectively with other software and technology companies.

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