Tekelec has notified that it has acquired privately held mBalance, a leading developer of messaging solutions.

Market experts believe that mBalance's software enables mobile operators to efficiently support their text messaging growth with a high-performance, networked messaging solution.

mBalance's software is already an important element of Tekelec's TekMedia solution which provides a cost efficient and highly scalable means of handling text message growth and security. Next to voice, SMS - or text messaging - is the most commonly used mobile application.

Founded in 2001 in the Netherlands, mBalance has 82 employees with solutions deployed in 48 mobile networks in 38 countries, including 10 deployments in nine countries as part of the TekMedia solution.

Under the terms of the acquisition agreement, Tekelec, through its Belgian subsidiary, Tekelec International, SPRL, has acquired 100% of mBalance's stock for EUR 28 million (approximately US$39.5 million at yesterday's exchange rate) in cash at closing, with up to an additional EUR 14 million of cash consideration payable upon the achievement of certain order input targets over the next two years.

Shares of the Tekelec gained $0.76, or 6%, to settle at $12.49. The total volume of shares traded was 475,817 at the Nasdaq. (Tuesday)