Vancouver's CounterPath Corp. plans to acquire Ottawa-based FirstHand Technologies Inc. in an all-share deal worth approximately $10 million.
FirstHand's applications service a wide range of mobile devices including the RIM Blackberry, Nokia and Microsoft Windows Mobile delivered over any mobile network including WiFi, GSM and CDMA.
Upon closing of the deal, Counterpath will acquire all of FirstHand's shares for 29.5 million Counterpath common shares. FirstHand's investors include Covington Capital, Skypoint Capital Corp. and BDC Capital Inc., who will own approximately 23% of Counterpath stock upon closing of the deal.