Microsoft picks up Musiwave for $50 million
Openwave systems can look forward to running a leaner operation starting now, as Microsoft has officially agreed to lift its Musiwave subsidiary off of its hands for a cool $50 million. Granted, only $46 million of that will actually hit Openwave’s bank account, as the other $4 million will be debt that Microsoft will assume. Three days prior to this announcement, the two firms made known that they were in exclusive talks, and apparently, 72 hours was enough time for Redmond to pull the trigger. Reportedly, the purchase will give Microsoft access to valuable relationships with “music labels, device makers and mobile operators that deliver digital entertainment to consumers,” but what exactly the firm plans to do with its new acquisition remains to be seen.
[Via mocoNews]
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