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Openwave snaps up U.K. rival

The two cell phone messaging software makers plan to close the deal by July.

Cell phone software maker Openwave Systems has purchased U.K.-based rival Magic4 for $82.6 million. Openwave Chief Executive Don Listwin on Tuesday said the acquisition is expected to close in July.

Openwave's strongest product is a Web browser, which is used in the majority of Internet-enabled phones. But the company has lagged in selling its cell phone messaging software to handset makers. Four-year-old Magic4, whose investors include Motorola, specializes in software needed for enhanced wireless messaging services like video mail. It's software will be in 50 million cell phones this year.