BURLINGTON, Mass.—Lightbridge Inc., which provides mobile business solutions, announced it will acquire Altawave Inc., which offers wireless data management services.
Lightbridge said the move strengthens its strategic relationships with carriers and expands its mobile business products and services.
The deal is through an asset transaction. Lightbridge will pay $4 million in cash, plus up to an additional $6 million contingent “on the achievement by Altawave of certain business goals, plus the assumption of certain liabilities,” the company said in a statement.
The companies said the deal is expected to close March 1.