Visto Inc., a Redwood City, Calif.-based mobile email company, has agreed to acquire Good Technology from Motorola Inc. No financial terms are being disclosed for the deal, which is expected to close later this month. Motorola had acquired Good Technology for more than $400 million in 2007, from venture capital firms. Visto has raised over $250 million in total VC funding since 1996, including a recap round in 2003. Current backers include Allegis Capital, Altitude Capital Partners, Blueprint Ventures, Draper Fisher Jurvetson, ePlanet Ventures, GKM Ventures, Meritech Capital Partners, Oak Investment Partners and Rustic Canyon Partners.
VISTO®, a leading mobile push and synchronization platform for service providers, today announced that it has entered into a definitive agreement to acquire Good Technology from Motorola, Inc. (NYSE: MOT). This acquisition immediately positions VISTO as a global leader in the delivery of a full range of secure, mobile messaging solutions for enterprises through mobile operators and OEM handset manufacturers.
The terms of the transaction were not disclosed. The parties intend to close the transaction by the end of February.
“This transaction marks another important milestone in VISTO’s emergence as a worldwide leader for mobile access to applications and content, especially messaging and collaboration data. Good’s robust enterprise and government solution will complement VISTO’s strong operator presence in business and consumer markets,” said Brian A. Bogosian, CEO of VISTO.
“As a result of this transaction, VISTO will now provide customers in over 100 countries an open, robust and secure mobile experience for enterprise customers, on over 400 different mobile devices.”
Good Technology specializes in offering wireless messaging, mobile VPN data access, device management and handheld security for enterprise customers worldwide. The addition of Good’s extensive service offerings in the U.S. Europe and Asia will enable VISTO to provide its government and enterprise customers with the benefits of a broader range of solutions and best-in-class secure mobile offerings.
VISTO has extensive relationships with mobile operators throughout Europe, North America, and Asia. Good, through its relationships with U.S. Mobile Carriers, has implementations with thousands of enterprises, including many of the Fortune 500 with a high concentration of the Fortune 50.
“We believe that this transaction is in the best interest of our customers, employees and shareholders,” said Gene Delaney, president, Enterprise Mobility Solutions, Motorola, Inc. “VISTO’s acquisition of Good will allow Motorola to continue to concentrate on providing best-in-class business-critical applications, secure management platforms and mobility services that empower the individual with the right information at the right time to streamline business processes and improve results.”
VISTO a leading provider of mobile push synchronization platform and service provider, enables mobile operators to provide easy-to-use communications services from email to social networking to photo sharing across the broadest set of devices. The Company’s patented VISTO Mobile™ platform with ConstantSync™ technology works in real time with popular email and social networking services for personal and business use, providing maximum control and flexibility for the operator and choice for the customer. VISTO’s customized, brandable solutions are available through mobile operators worldwide including AT&T, Elisa, Rogers Wireless, Qtel, SmarTone, SFR, Softbank Mobile, Sprint, TELUS, T-Mobile, Turkcell and the Vodafone Group.
Established in 1996 and headquartered in Redwood Shores, California, VISTO has offices in Seattle, Toronto, London, Milan, Paris, Madrid, Dusseldorf, and Tianjin, China. The Company is backed by Oak Investment Partners, Draper Fisher Jurvetson, Altitude Capital Partners, Meritech Capital Partners, DFJ ePlanet Ventures, DFJ Growth Fund, Rustic Canyon Ventures, GKM Newport, Stanford Accelerator and Blueprint Ventures. For more information, visit www.visto.com or email firstname.lastname@example.org.
Motorola is known around the world for innovation in communications and is focused on advancing the way the world connects. From broadband communications infrastructure, enterprise mobility and public safety solutions to high-definition video and mobile devices, Motorola is leading the next wave of innovations that enable people, enterprises and governments to be more connected and more mobile. Motorola (NYSE: MOT) had sales of US $30.1 billion in 2008. For more information, please visit www.motorola.com.