Microsoft to Acquire Musiwave for $50 Million In Cash And Debt
By James Quintana Pearce - Thu 15 Nov 2007 08:02 AM PST
Microsoft (NSDQ: MSFT) and Openwave (NSDQ: OPWV) have finalized the sale of Musiwave to Microsoft, after announcing a few days ago that they were in talks. Microsoft will pay $46 million in cash and assume a debt of $4 million, bringing the cost to the $50 million mark mentioned eariler. Microsoft likes Musiwave because of its relationships with music labels, device makers and wireless operators, while Openwave took a bath on the music company (a write-down of $54.7 million) and promised investors it would divest itself of Musiwave and focus on its core business.
Posted in: Entertainment, Music, VC+M&A
