HACKENSACK, N.J.-GoAmerica Inc. announced it is working to sell its wireless enterprise business, including its Go.Web software and services, but said that the prospects for such a sale look dim.
Further, GoAmerica said it expects to refocus its business around its Wynd Communications subsidiary, which provides wireless services to the deaf and hard of hearing.
The announcement comes after GoAmerica said it hired an outside advisor to explore possible business transactions, including a sale or merger. However, it seems there is little interest in the company as GoAmerica suffers under mounting losses and a bleak business outlook.
GoAmerica said it is working to divest its wireless enterprise assets, and it is hoping to command a selling price of $1.5 million. However, the company said that such a purchase price could be “substantially lower,” and if no deals are reached the company will simply shut down its Go.Web business. GoAmerica said such a move would include further layoffs.
GoAmerica said that its Wynd subsidiary might still be involved in a “strategic transaction,” but if no such deal occurs the company will “re-focus its energies” around the business. GoAmerica said its Wynd subsidiary continues to do well in the down economy.
Such dire news comes as little surprise, as other wireless enterprise companies have been forced to merge, sell their assets or simply shut down due to lack of customers.
