Smith Micro announces contract termination by U.S.-based Tier 1 carrier customer

Smith Micro announced that the Company received written notice of contract termination from a U.S.-based Tier 1 carrier customer for the company’s family safety solution, effective June 30. At the customer’s election, the company remains obligated to deliver service under the agreement for a transition period of up to 180 days beyond June 30. The company is reviewing and expects to take appropriate action to reduce expenses associated with the affected customer agreement, and will reallocate certain resources to the company’s multiple other Tier 1 U.S. carrier customers and to its customers outside of the U.S.