Openwave Systems Inc. (NASDAQ: OPWV) has been long forgotten by most investors who invested in and around technology strangleholds in mobile and online communications. The company is exploring options for its messaging and mediation units and plans to make money off of its patents portfolio and intellectual product offerings. The company claims to have built a portfolio of about 200 patents covering smart devices, cloud technologies and unified messaging. It also provides all-Internet Protocol mediation and messaging solutions. In an effort to monetize the reviewed assets, it hired Jefferies as its advisory firm.
The aim is to drive maximum value. Whether or not this can be accomplished is another matter. Trust is hard to come by here considering how the company was a leader before but kept getting crushed due to there being fewer and fewer voice and data providers with millions of accounts.
Shares of Openwave are up 9% at $1.93 right before the close. While its 52-week range is $1.17 to $2.67, this was virtually a $10 stock almost five years ago. Its market cap today is $165 million and it had about $67 million in liquidity as of September 30, 2011.
JON C. OGG
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