Friday, August 23, 2002

Cutting Edge acquired

Mobility Electronics has acquired Cutting Edge Software, Inc., makers of <A HREF="http://www.quickoffice.com/press/releases/pr_2002.08.21_meaquiresces.html">Quickoffice</A>. Under the terms of the agreement, Mobility Electronics will acquire Cutting Edge Software for a package of $3.0 million, split evenly between cash and Mobility's common stock, plus potential additional consideration based on future performance. The cash portion of the transaction will be financed through Mobility's existing working capital.

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