REDWOOD CITY, Calif., June 22 /PRNewswire-FirstCall/ -- Openwave Systems Inc. (NASDAQ:OPWV), the leading independent provider of software products and services for the communications industry, today issued the following statement in response to the announcement that Harbinger Capital Partners Master Fund I, Ltd. and Harbinger Capital Partners Special Situations Fund, L.P.'s (collectively, "Harbinger") have allowed Harbinger's tender offer to expire without purchasing any shares: "Over the past weeks and months, we have met with and listened to many of
our stockholders, and we greatly appreciate their insights and feedback. With the Harbinger tender offer now behind us, we look forward to
continuing to execute on our stand-alone plan. Our Board and management
team strongly believe that continued execution of our plan will drive
sustainable revenue and profit growth, and we are committed to enhancing
value for all of our stockholders." About Openwave
Openwave Systems Inc. (NASDAQ:OPWV) is the leading independent provider of software solutions that ignite mobility for the communications and media industries. Openwave empowers its customers to rapidly transform their business by sparking new revenue streams and market opportunities, building loyal subscriber communities and reducing operational costs. Openwave's broad range of IP-based handset-to-network solutions enable the rapid launch of information, communication and entertainment services across networks and devices and include handset software, content delivery, adaptive messaging, location, music and video services. Openwave is a global company headquartered in Redwood City, California. For more information please visit http://www.openwave.com/.
Cautionary Note Regarding Forward Looking Statements This release contains forward-looking statements relating to expectations, plans or prospects for Openwave Systems Inc. that are based upon the current expectations and beliefs of Openwave's management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Notwithstanding changes that may occur with respect to matters relating to any forward looking statements, Openwave does not expect to, and disclaims any obligation to, update such statements. Openwave, however, reserves the right to update such statements or any portion thereof at any time for any reason.
In particular, the following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: (a) the ability to change business strategy, development plans and product offerings; (b) the ability to successfully implement and recognize cost savings; (c) the ability to develop and commercialize new products; (d) industry and customer adoption and acceptance of new products; (e) risks associated with the development and licensing of software generally, including potential delays in software development and technical difficulties that may be encountered in the development or use of our software; and (f) increased global competition and pricing pressure on our products.
For a detailed discussion of these and other cautionary statements, please refer to the risk factors discussed in filings with the U.S. Securities and Exchange Commission ("SEC"), including but not limited to the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2006, and any subsequently filed reports. All documents also are available through the SEC's Electronic Data Gathering Analysis and Retrieval system (EDGAR) at http://www.sec.gov/ or from Openwave's website at http://www.openwave.com/.
Openwave is the trademark of Openwave Systems Inc. All other trademarks are the properties of their respective owners.
For more information please contact: Openwave Systems Inc. Hal Covert
Chief Financial Officer
Tel: 650-480-4461 Vikki Herrera
Public Relations
Tel: 650-480-6753 Matthew Sherman / Michael Cuneo
Joele Frank, Wilkinson Brimmer Katcher
Tel: 212-355-4449
DATASOURCE: Openwave Systems Inc.
CONTACT: Hal Covert, Chief Financial Officer, , +1-650-480-4461, or Vikki Herrera, Public Relations, , or +1-650-480-6753, both of Openwave Systems Inc.; or Matthew Sherman, or Michael Cuneo, both of Joele Frank, Wilkinson Brimmer Katcher, +1-212-355-4449 Web site: http://www.openwave.com/
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