Software.com, Inc. (Nasdaq: SWCM) was up 39 7/8 to 154 in early trading today after the company said it agreed to acquire Internet application service provider AtMobile.com, Inc. for about $400 million in stock. AtMobile, based in Bellevue, Washington, is privately held.
“We plan to integrate AtMobile.com’s suite of applications rapidly into Software.com’s offerings, which we will then deliver as mobile Internet infrastructure software to service providers worldwide,” said Software.com CEO John MacFarlane.
Software.com will issue 3.75 million common shares for all AtMobile’s outstanding stock and options. The deal is expected to close in about six weeks.