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Smith Micro announces acquisition of Allume Systems

Smith Micro Software today announced it has acquired Allume Systems, a provider of compression software solutions that enable compression, security and archiving of data including JPEG, MPEG and MP3 platforms. “The Company’s pioneering product suite known as StuffIt(R) has been a de facto industry standard since 1986.” According to the terms of the agreement, Smith Micro will pay US$11 million in cash and $1.75 million in Smith Micro shares to purchase all outstanding shares of Allume.

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