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Monday, August 14, 2006

Openwave Finally Catches a Break

Stock Tickers: OPWV, VOD, MFE

A world of contracting wireless telecom carriers can be a disaster for companies whose only business is to serve these once rapidly growing companies. That is what has hurt Openwave Systems (OPWV) as literally one big carrier contract miss can mean you get sent to the showers for a long time.

This morning Openwave announced an extension of its pact with Vodafone (VOD) to cover Italy. Openwave Systems today announced that Vodafone Italy will extend its deployment of Openwave products and solutions to include its Security Suite for Mobile Anti-Virus, a key component of Openwave's Mobile Edge content delivery framework announced earlier this year. The security solution also features McAfee® (MFE) VirusScan® Mobile, designed to protect mobile devices against threats that originate from mobile browsing, downloads, and multiple forms of mobile messaging including email, SMS and MMS.

Shares of Openwave are up almost 3% pre-market at $7.20, still well off of the $23.19 highs seen in the last 52-weeks. After its open wave of problems, the shares in the same 52-week period have traded as low as $5.91. This company had recently announced staff cuts to lower costs, and this looks like the first decent contract announcement the company has posted in weeks.

Jon C. Ogg
August 14, 2006
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