As part of plans to expand into the mobile computing space, Symbol
on Wednesday announced an all-stock deal to
acquire Menlo Park, Calif.-based Covigo, Inc.
Symbol, which is the subject of a wide-ranging fraud investigation that
has led to the resignation of
its chief counsel, said the Covigo purchase would help develop systems that
allow enterprise customers to manage a range of mobile computing assets.
Symbol specializes in the use of handheld computers and wireless data and
voice networks to scan bar codes on the retail floor (and for logistics and
transportation companies). The Holtsville, N.Y-based company also markets
equipment and software that ties bar code scanners into wireless local-area
networks and the Covigo deal is seen as an expansion into that space.
In a statement, Symbol said Covigo’s technology would be used to provide
applications for its enterprise clients in the areas of mobile sales teams,
healthcare professionals and supply chain management teams from
manufacturing to retailing.
Symbol, which markets products that manage data on a range of handheld
computers, said the plan is to use the Covigo’s purchase to develop mobility
software to help enterprise clients manage and control of their mobile
Covigo’s assets would be folded into Symbol’s Mobility Software Division
“The development of Covigo’s mobile platform will enable customers to
simplify the creation and deployment of wireless applications, while
reducing administrative costs associated with network management and data
synchronization,” the company said.
The acquisition also included licensing deals with operators,
enterprises, infrastructure software and enterprise applications vendors.
Covigo customers in the U.S. and Europe include Software AG, CMG Wireless
Data Solutions, the State of Texas and CricInfo.
Covigo launched with funding from Levensohn Ventures, Nokia Venture
Partners and Norwest Venture Partners.