Elephant Talk Divests Itself of ValidSoft
Elephant Talk Communications, a provider of mobile networking software and services, has divested itself of ValidSoft, a provider of voice biometric and authentication, completing the last major step in the company's comprehensive restructuring plan. Elephant Talk preserves its ability to continue to co-market and bundle ValidSoft's Voice Biometric and Authentication services.
A management buy-out group, VSFT Holdings, led by Pat Carroll, founder and CEO of ValidSoft, has agreed to acquire the shares of ValidSoft for a combination of $2 million.
Elephant Talk and VSFT Holdings have agreed to collaborate to bring together voice biometric security and authentication technologies with mobility solutions for the benefit of enterprises and consumers alike, including development and access to customers through cooperative marketing efforts.
"It is time for ValidSoft to strike out on its own and address the broad and growing security markets beyond just the mobility markets," Carroll said in a statement. "This separation of the two entities will strengthen both companies while preserving the opportunity for the two companies to work closely together on joint proposals. It has been a pleasure to be part of the Elephant Talk family, and I remain a significant shareholder. I look forward to a fruitful and mutually prosperous relationship."