Mobile device management and synchronization software vendor Puma Technology Inc said Thursday that it has struck a deal to acquire privately-held NetMind Technologies Inc for $410m in stock. NetMind, which is a neighbor of Puma’s in San Jose, provides internet infrastructure software for personalization.
NetMind’s technology includes a range of capabilities for mobile e-business, including mining, extraction, notification, delivery, targeting, and analytics. Its customers include IBM, eBay, Red Herring, Hitachi and Boeing. NetMind says in total, more than 45,000 web sites currently employ its Mind-it web personalization technology, with an active user base of more than 6 million subscribers globally.
Puma claims that the combination of NetMind’s web-tracking and alert software with its browsing and synchronization technology will greatly enhance the use of internet-connected mobile devices, such as smartphones. It says the combined company’s goal is to become the leading infrastructure provider for mobile, wireless, and internet appliance-based e-business.
Under the terms of the deal, Puma will exchange five million shares of common stock for all of NetMind’s outstanding capital stock, warrants and options in a pooling of interests. The value of the deal was $370m when announced Thursday morning based on Puma’s Wednesday close of $74, but shot up to $410m after Puma shares added $8 during the trading session. The acquisition is expected to close in Puma’s third fiscal quarter ending April 30.
