PARIS-Openwave Systems Inc.’s new subsidiary Musiwave said it is powering a new subscription-based, full-track music download service for French carrier SFR.
SFR, an affiliate of Vivendi Universal and Vodafone Group plc., launched the service with 80,000 songs from Universal Music’s catalog. Musiwave is teaming with Secure Digital Container AG to provide digital rights management technology for the offering.
Musiwave powers more than 20 full-track mobile music download services globally.
Openwave, which completed its acquisition of Musiwave just two weeks ago, posted net income for the second fiscal quarter of $8.4 million, or 11 cents per share, up dramatically from $1.9 million, or 3 cents per share, during the year-ago period. Shares of the mobile software developer soared on the news, jumping more than 12 percent to $20.80 per share on the Nasdaq.
“We are pleased to announce record earnings today which have exceeded the expectations we set for the company,” Chief Executive Officer David Peterschmidt said.
