Openwave executes agreement for Microsoft to buy Musiwave for $46M, assume debt

        BOSTON (Thomson Financial) - Openwave Systems Inc. on Thursday executed a
definitive agreement for Microsoft Corp. to acquire Musiwave, a subsidiary of
Openwave and provider of mobile music entertainment services to operators and
media companies.
    Under the terms of the agreement, Microsoft will acquire Musiwave for $46
million in cash and assume net debt. Musiwave had net debt of about $4 million
as of Sept. 30, Openwave said.
    Shares of Redwood City, Calif.-based Openwave rose 4.4% to $3.07 in
premarket trading, while shares of computer giant Microsoft fell 11 cents to
$33.81.
    
Casey Logan
cl/jw

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