Smith Micro Announces Sale of Moho® 2D Animation Software

PITTSBURGH–(BUSINESS WIRE)–Smith Micro Software, Inc. (NASDAQ: SMSI) today announced the sale of its product line of Moho 2D animation software to Lost Marble LLC. As part of the sale, Lost Marble, which was founded by Mike Clifton, the original creator of Moho, and Victor Paredes, animator from Cartoon Saloon and former Product Manager of Moho, has acquired ownership of both Moho Pro and Moho Debut from Smith Micro.

“We remain laser-focused on maximizing the profitability of our three solutions for wireless carriers – SafePath^®, CommSuite^®, and ViewSpot^®,” said William W. Smith, Jr., President and CEO of Smith Micro Software, Inc. “Divesting the Moho product line to Lost Marble is a win for all parties involved as it enables us to devote 100% of our energy to our wireless portfolio and customers, while enabling the original creator of Moho to carry on the software’s legacy in the 2D animation space.”

Lost Marble is acquiring the software with the support of multiple Academy Award-nominated studio, Cartoon Saloon.

“We’ve always called Moho ‘our secret weapon,’” said Tomm Moore, Co-director of “Wolfwalkers” and “Secret of Kells.” “We’ve been using it for years now and it’s really amazing. At the beginning, I was a purist thinking that whatever we did had to be hand drawn. But, after seeing Moho in action, I just wanted to use the software more and more.”

More information about Moho is available at mohoanimation.com.

About Smith Micro Software, Inc.

Smith Micro develops software to simplify and enhance the mobile experience, providing solutions to some of the leading wireless service providers and cable MSOs around the world. From enabling the family digital lifestyle to providing powerful voice messaging capabilities, our solutions enrich today’s connected lifestyles while creating new opportunities to engage consumers via smartphones and consumer IoT devices. The Smith Micro portfolio also includes a wide range of products for creating, sharing and monetizing rich content, such as visual voice messaging, optimizing retail content display and performing analytics on any product set. For more information, visit https://www.smithmicro.com/.

SafePath, CommSuite, ViewSpot, Smith Micro and the Smith Micro logo are registered trademarks of Smith Micro Software, Inc. All other trademarks and product names are the property of their respective owners.

About Lost Marble LLC

Lost Marble is a company created by Mike Clifton, the original creator of the Moho animation software, and Victor Paredes, animator and Moho animation supervisor at Cartoon Saloon. Its main goal is to continue the development of Moho, in order to create powerful and easy use tools for professional animators, applying their knowledge in both programming and animation to expand the limits in which technology can help artists to create 2D animation.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements regarding future events or results, including statements related to the anticipated benefits of the divestiture, and statements using such words as “expect,” “anticipate,” “believe,” “plan,” “intend,” “could,” “will” and other similar expressions. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Among the important factors that could cause or contribute to such differences are changes resulting from or relating to the ongoing COVID-19 pandemic, including changes in consumer behavior, changes in our customers’ retail store operations and/or changes in health and safety recommendations and requirements, changes in customer or platform requirements and limitations on our ability to compete effectively with other software and technology companies. These and other factors discussed in our filings with the Securities and Exchange Commission, including our filings on Forms 10-K and 10-Q, could cause actual results to differ materially from those expressed or implied in any forward-looking statements. The forward-looking statements contained in this release are made on the basis of the views and assumptions of management, and we do not undertake any obligation to update these statements to reflect events or circumstances occurring after the date of this release.

Contacts

PR/IR INQUIRES:
Charles Messman

Smith Micro Software

(412) 837-5300

IR@smithmicro.com