Comverse spends $480m on WAP gateway firm

NEWS Comverse technology - a US-Israeli provider of messaging systems for wireless networks - has acquired Israeli start-up Exalink in a stock deal worth $480m. Exalink manufactures WAP gateway technology, and the purchase is a key move in Comverse's plan to diversify from the voicemail and messaging market. Comverse holds a 75 per cent share of the global voicemail market and operates on approximately 240 cellular networks worldwide. Gidi Be'ery, general manager of Comverse's mobile internet division, said: "After this acquisition, we will have control of all access technologies. It's all part of our internet strategy, which involves providing an end-to-end solution of enhanced services through mobile operators."