Openwave Considers Sale of Business

Openwave Systems has announced that it has retained Merrill Lynch & Co. as its financial advisor to explore a range of strategic alternatives and options, which could include a possible sale of the company.

"Openwave's Board of Directors is committed to taking all appropriate and necessary action to enhance value for all stockholders," said Mr. Puckett. "As the Board reviews the range of alternatives available, we remain committed to ensuring the long-term growth and viability of Openwave's products and solutions, continuing to support our longstanding customer base with world class service, and acting in the best interests of our stockholders, customers and employees."

Openwave Systems also announced that Robert Vrij, Executive Vice President of Worldwide Field Operations, has been appointed President and Chief Executive Officer, effective immediately. His appointment follows the resignation of David Peterschmidt, who previously served as President and Chief Executive Officer. Mr. Peterschmidt will continue to serve on Openwave's Board of Directors.

"Under Robert's leadership, Openwave will continue its product transition to an end-to-end solutions provider and will continue to support the Company's global customer base with the delivery of new, next generation solutions," said Bernard Puckett, chairman of Openwave's Board of Directors. "We want to thank Dave for his hard work and dedication since he joined the Company in November 2004 and we look forward to his continued contributions to the Board."

Posted to the site on 26th March 2007