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Phone.com buys Onebox.com for $850M

Phone.com (Nasdaq: PHCM) said Monday it will buy Onebox.com in a stock swap valued at $850 million.

Phone.com said Onebox.com, which provides unified email, voicemail, fax, and wireless-enabled communication applications, will compliment its existing products. Phone.com provides wireless Internet software and services.

The company has gone on a shopping spree of late, buying @Motion and Paragon. Last week, Phone.com bought Paragon for $500 million in stock. In December, the company bought @Motion for $285 million.

Under the terms of the latest deal, Onebox.com shareholders will about 6.5 million shares of Phone.com common stock. The deal is expected to close in Phone.com's fiscal fourth quarter ending June 30.

The companies' products will be integrated together and sold as a package or on a standalone basis to Internet service providers and telecommunications companies. Onebox.com, which has 2.5 million registered users, is a ZDNet partner.

Onebox.com's chief executive officer, Ross Bott, will join Phone.com as chief operating officer for the products group. Onebox.com's 70 employees will become Phone.com employees.

"We now significantly broaden our target markets and product offerings with Onebox.com's advanced unified messaging applications," said Alain Rossmann, CEO of Phone.com.