this company is apparently 1 guy with one helper. he seems to accept payment in crypto, I've seen offers of a few thousand coins to a million (for infinitecoin). If you read through the thread, he talks a little about scrypt-jane and n-factor. What I wonder is what the "base" functionality of a wallet needs to be - just download the blockchain, sync, send and receive? If so, that shouldn't be too difficult (although I'm no expert).
mobile wallets doesn't download the entire blockchain, that's why they are called lite-clients
a lite-client downloads just the metadata so syncing is done in a couple of minutes compared to hours or days
sending/receiving is not what you really think, you just tell for a transaction to be put on the blockchain and read it after
so yes it may sound really simple but the problem is in parsing the metadata from the blockchain and transaction creation and broadcast