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Openwave agrees to acquire SignalSoft Corp.

The Associated Press
Thursday May 30, 2002
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REDWOOD CITY – Communications infrastructure software company Openwave Systems Inc. has agreed to acquire SignalSoft Corp. for about $59 million, or $2.26 a share. 

Openwave also said in a statement Wednesday it has acquired technology from Ellipsus Systems Inc. for $17.5 million. 

The proposed acquisition of SignalSoft extends Openwave’s mobile data services portfolio, the company said, adding complementary technology and location-based services knowledge. Openwave plans to use SignalSoft’s $45 million in existing cash to finance the transaction. 

Openwave expects to complete the SignalSoft acquisition, subject to certain conditions, during the third quarter.