Interesting convergence deal where OpenWave (ex UnWired Planet, ex Software.com, provider of value added software stack for the telecom industry) buys into a consumer/content music provider.
Openwave Systems Inc., agreed today to acquire Musiwave, a music entertainment services supplier, for up to EUR114.5 million in cash and stock.
MusiWave did close a third round of funding in September 2002 for 4M€. Shareholders includes ETMF II L.P. a private equity fund advised by BNP Paribas Private Equity, Ventech and CAPE (Crédit Agricole Private Equity).
At €114M, this is a great demonstration of Europe ability to build exit in the 100M€ windows.
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