Features
Openwave agrees to acquire SignalSoft Corp.
The Associated Press
Thursday May 30, 2002
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.
