IPO-bound Good Technology buys part of a company it sued

Good Technology on Tuesday said it bought the U.S. business of mobile security software provider Fixmo.

Sunnyvale-based Good didn’t disclose the terms of the deal it struck with the Toronto company.

Good said the acquisition resolves a patent dispute that it brought against Fixmo in the U.S. District Court in Texas’ Northern District.

Good said it plans to offer Fixmo’s mobile device tamper detection and verification system to both public and private-sector clients. The system was devised by Fixmo through a research and development effort with the U.S. Department of Defense.

Fixmo was selected last year to provide mobile data protection and cyber security for the U.S. Defense Information Systems Agency.

Good Technology CEO Christy Wyatt said she intends to expand her company’s employee base and leverage Fixmo’s Sterling, Va., and Toronto offices to support ongoing research and development.

Good announced the deal at a conference in New York as it ramps up preparations to go public this year. It said last month that  it hopes to raise up to $100 million in an IPO.

Good’s revenue has grown by 88 percent to $160.4 million in the last three fiscal years. Its loss nearly tripled in that time frame to $118.4 million.

The company raised more than $200 million in financing since it was founded in 1996. Oak Investment Partners is its biggest shareholder with a 22.5 percent stake, followed by Draper Fisher Jurvetson, which holds 11.7 percent. Other investors who own more than 5 percent of the company are Lazard Technology Partners (7.6 percent), Meritech Capital Partners (6.3 percent) and Saints Rustic Canyon (6.2 percent). “Read more”


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