Sunday, September 25, 2005

Openwave Acquires Musiwave for Operator-focused Entertainment services

Openwave Systems will acquire Musiwave, a supplier of operator-focused music entertainment services, applications and content, for approximately EUR 99.5 million and a contingent earnout of up to an additional EUR 15 million. This equates to approximately $121 million, and an additional $18 million respectively.

"Openwave is focused on helping our operator, broadband and MVNO customers deliver high quality services that generate new revenue streams," said David Peterschmidt president and CEO, Openwave. "With Musiwave, Openwave will enable operators to deliver a broad range of high value music services and associated content, quickly and safely to their customers."

"The mobile music market is exploding and operators are eager to answer the growing consumer demand for music services, both to personalize their devices and to listen to high quality music on the move," said Gilles Babinet, chairman and founder, Musiwave.

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