Openwave snaps up U.K. rival

Cell phone software maker 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.