FREMONT, Calif.-Device-management company Insignia Solutions announced it hired an investment banking company to assist it with “strategic opportunities in the arenas of acquisitions and mergers.” Such moves generally precede a corporate sale.
“I am looking forward to working with our advisors at SVB Alliant as we work to capture a growing share of the global opportunities in mobile device management,” said Insignia’s Mark McMillan, the company’s chief executive officer.
In its most recent quarter, Insignia reported $800,000 in revenues, up from the $107,000 it reported in the same quarter a year ago. The company expects revenues to increase to as much as $1.4 million in the coming quarter.
Insignia’s stock was trading up slightly at the news at around $0.40 per share.
