Sometimes, when everything goes wrong, companies try to put on a happy face, releasing a flurry of news in the hopes of raising investor confidence. That could be what is going on at Openwave Systems (nasdaq: OPWV - news - people ), whose stock is down 60% over the past year.

Just this month, Redwood City, Calif.-based Openwave (nasdaq: OPWV - news - people ) announced that it will pay $5 million to acquire WiderWeb, a British company that develops technology used to adapt Web content for mobile devices. Good news? Not for a while: Openwave says the acquisition will not have a material effect on its fiscal 2007 financial results.

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