Question-and-Answer Session
Operator
[Operator Instructions]
Your first question comes from the line of Eric Martinuzzi with Craig-Hallum.
Eric Martinuzzi - Craig-Hallum
Good afternoon, gentlemen, and congratulations on your successful quarter. My question has to do with the mobile side of the business. You do a nice job of breaking out the historic GAAP -- segment revenue.
But I was curious as far as an organic growth rate, can you just sort of -- taking into consideration, SIGOS as an independent company and sort layering that on for December, how do the two quarters stack up in the mobile business, December '06 versus December '05.
Umang Gupta
Yes. Well, first of all, there are some pieces of data we can provide you, because they have been provided publicly, other possibly not. But when it comes to SIGOS' revenue, we mentioned when we acquired the company that SIGOS' revenue last year, that least year meaning -- sorry, in the calendar 2005, was approximately 12 million euros.
In this last year, if SIGOS had just remained an independent company under its own sections, et cetera, that business turned out to be more than 17 million euros. So in effect, from their viewpoint and not US GAAP or nothing like that, but just based on what they did, that's what it was.
Clearly, that's now have to be translated to US GAAP and US dollar, it was about that we provided you with those, clear significant organic growth that occurred in the SIGOS business. Much of it, by the way, that occurred after the acquisition. Clearly, we would love to be able to say to you that everything was because of us.
No, it is due to the tremendous efforts of the SIGOS team and what they did. But I would like to think that some of that growth clearly came as a result of the acquisition itself and the resulting strong effect of having a strong corporate parent, and therefore, the result of that on buying decisions and buying behavior by customers around the world.
Eric Martinuzzi - Craig-Hallum
So is the earn-out a maximum payment or some discount there too?
Umang Gupta
In this point, the earn-out is the maximum payment that we could have paid them, and they were basically at that maximum.
Eric Martinuzzi - Craig-Hallum
Okay. A little bit more detail on Vodafone business. Was that a renewal and expansion -- how is it different now than it was in the prior contract.
- To read the full transcript on Seeking Alpha, click here »
