Tuesday, support.com Inc. (SPRT), a provider of online technology services, announced that it has acquired Sammsoft, a provider of consumer software products designed to maintain, optimize and secure personal computers. The acquisition was effected through the purchase of substantially all of the assets of Xeriton Corporation, owner of the Sammsoft business. The purchase price for the acquired assets was $8.5 million, paid in cash, the company said.
With the addition of the highly-rated Sammsoft products, support.com said it expands its consumer portfolio by adding software solutions to its assisted services, enabling the Company to broaden and deepen its relationships with consumers. From a strategic standpoint, the acquisition represents another step forward in support.com's long-term plan to become the trusted advisor for the digital home.
support.com said it now expects fourth-quarter revenue from its current operations, excluding the acquisition, to be towards the upper end of its previously announced range of $4.0 million - $4.7 million. The company anticipates the acquisition of Sammsoft to contribute additional fourth quarter revenue of $400,000 to $600,000. Finally, support.com said it now projects non-GAAP net loss per share in the range of $0.08 - $0.10 as compared to the previously announced net loss per share range of $0.09 - $0.11.
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