Good Technology, a provider of industry standards-based wireless handheld computing software and service, acquired Dayakar Puskoor’s JP Mobile, a developer of wireless handheld computing. The acquisition will integrate key technology assets and engineering talent from operations in Dallas and Hyderabad, India.

Puskoor founded JP Mobile in 1995 and raised $55 million in venture capital.

While the firm was looking for further funding to expand in the market, many companies expressed interest in acquiring JP Mobile and Good Technology clinched the deal. The acquisition will accelerate product development to meet the increasing market demand. “This will enable JP Mobile compete with bigger companies like Research In Motion of Canada etc.,” says Puskoor, CEO of JP Mobile.

“With over 6,500 corporate accounts, Good has proved that it meets the wireless handheld computing needs of the enterprise,” said Puskoor. “The addition of JP Mobile technologies, expertise and intellectual property will help Good continue to meet the needs of large enterprises, and will accelerate the product development required to meet market demands. We are very happy to be joining Good to bring the strengths of our two companies together.”

Though Puskoor refused to comment on the amount of acquisition; market reports suggest Good Technology to have paid less than $75 million for this deal.

While the Indian arm of JP Mobile is set to expand after the acquisition, Puskoor will continue as a technology and business development advisor with the company.