CallWave snares WebMessenger for $9M

CallWave Inc. shelled out $9 million in cash to pick up WebMessenger Inc., a Los Angeles-based developer of messaging applications for smartphones.
CallWave, a privately held company that claims 42 employees, targets business users with cross-platform applications for conferencing and other communications. The San Francisco-based company said it will integrate WebMessenger’s messaging and presence offerings into Fuze, a high-definition video communications application for mobile phones and PCs scheduled to launch in the next few weeks.
“Being a part of CallWave will provide greater strength and stability,” said CallWave President Joe Naylor, “enabling us to take our technology further into the market.”
CallWave stock held firm at $2.29 per share following the announcement.