Creating a ‘strategic marriage’ for your technology company
Technology mergers and acquisitions have the potential to help all companies involved. When business owners who are looking to sell are able to fine-tune their exit strategy, and find a firm with applicable goals and ideals, they can rest assured that their organization will not disappear.
For example, look at the recent technology acquisition between Lucent Mobile, Inc. and Proxomo Software, Inc. The latter company is a leading mBaaS (mobile backend-as-a-service) provider and was bought by Lucent to fine-tune its mobile application development.
According to a press release, Proxomo's technology helps customers integrate its mBaaS platform and then create more powerful mobile applications, reduce time to market, and drive down development costs to maintain a variety of context services and third party APIs.
"This is a well-timed strategic marriage," Proxomo advisor Jason Illian said in a statement. "With Facebook's recent acquisition of Parse and now Lucent Mobile's acquisition of Proxomo, the market is validating the growing need for 'backend as a service' technologies."
The Dallas Morning News cited a statement from Proxomo CEO MeLinda McCall, in which she said that her company is excited to have the opportunity to bring its mBaaS solution to more customers. With the acquisition, Proxomo now has the resources to reach more clients while still providing a high level of service.
Exact terms of the acquisition have not yet been disclosed, but the companies announced that the business will now operate under Proxomo's name and be based out of Dallas—from which the mBaaS firm originates.
Lucent and Proxomo are a good example of how two businesses that have varying technologies, but a similar overall goal, can work together to meet customer needs and push both organizations forward.