* Hires Jefferies & Co as financial adviser (Follows alerts)
Jan 12 (Reuters) - Openwave Systems Inc said it will pursue strategic alternatives for its mediation and messaging products business to improve profitability by focusing on intellectual property.
The company, which claims to have about 200 patents covering smart devices, cloud technologies and unified messaging that enables mobile devices to connect to the Internet, said it has retained Jefferies & Co as financial adviser for the strategic review.
“We believe our strategy will enable us to derive the maximum value from our...messaging and mediation product lines for both our shareholders and our customers,” Chief Executive Mike Mulica said in a statement.
In November, the company said Microsoft Corp became the first company to license its patent portfolio.
In August last year, the company, which makes software that allows telecom operators to give customers wireless access to a variety of data and applications, had also filed patent infringement complaints against Apple and Research In Motion .
Shares of the Redwood City, California-based company, which is valued at $151.8 million, closed at $1.77 on Wednesday on the Nasdaq. (Reporting by Soham Chatterjee in Bangalore; Editing by Gopakumar Warrier)