Purple Labs, a French mobile software company that has received around €35m of venture capital financing, has been acquired by Swiss rival Esmertec.
The new entity will be renamed Myriad and retain Esmertec’s listing on the Swiss Stock Exchange. The company will have a combined global team of 800 software engineers, and 2009 revenue is expected to exceed US$125m.
Hans Peter Baumgartner, chairman of Esmertec, said: “This acquisition creates a powerhouse in the mobile industry. With its broad portfolio of enabling technologies, Myriad will be a valued partner for phone manufacturers and mobile network operators that aim to create innovative user experiences for the mass market.”
The deal represents an exit for Purple Lab’s backers, Sofinnova Partners, Earlybird Venture Capital and Partners Group.