Apple Music Karaoke Mode Musk Briefly Not Richest COVID Variants Call of Duty and Nintendo 'Avatar 2' Director 19 Gizmo and Gadget Gifts Gifts $30 and Under Anker MagGo for iPhones
Want CNET to notify you of price drops and the latest stories?
No, thank you

Acquisition pushes to record close shares rocketed up 32 11/16, or 29 percent, to an all-time high of 146 13/16 Thursday after the developer of mobile communications software said it would buy privately held Inc. in a $400 million stock deal.

Bellevue, Wash.-based is a wireless Internet application service provider that offers Instant Messaging technology and other wireless Internet expertise. (Nasdaq: SWCM) officials said the acquisition will enable it to offer mobile service providers a broader array of applications to create and deliver mobile Internet services.

"We plan to integrate's suite of applications rapidly into's offerings which we will then deliver as mobile Internet infrastructure software to service providers worldwide," said CEO John MacFarlane in a prepared release.

With the acquisition, plans to deliver wireless unified messaging, enabling mobile service providers to tap the exploding wireless services market. Based on this technology, wireless service providers can provide their customers with ``access anywhere'' - the ability to access voicemails, emails, pages and faxes from a single mailbox regardless of location, time or device.

Terms of the merger call for's existing 70 employees to join immediately following the close of the deal, which is expected in about six weeks. CEO Michael Buhrmann will join's executive management team as general manager of its wireless business.

The acquisition is expected to be accounted for as a pooling of interests and has been approved by the board of directors of each company.

In its latest quarter, posted a loss of $364,000, or 1 cent a share, on sales of $15.5 million.

First Call consensus expects it to lose 6 cents a share in its first quarter and 17 cents a share in the fiscal year.

Its shares fell to a low 17 5/8 in August.

All five analysts tracking the stock maintain either a "buy" or "strong buy" recommendation.

Reuters contributed to this report.