LYCOS Internet witnessed a sharp rise in share price on Monday after the company announced to acquire an Austrian company, TriTelA Gmbh, which owns the asset - mysms messenger and the tech platforms SPH Wien and Kika social.

The company said, ''This is an all stock deal where LYCOS will issue 28.48 million additional shares in return for the 100% ownership of the company. The deal has been approved by the board of LYCOS and is subject to various regulatory and shareholder approvals.''

''This acquisition brings in cloud based framework to LYCOS that can tie multiple nodes (SMSest instant messages, wearables, cars and appliances) with the consumer through multiple devices (smart phones, Tablets, laptops and OTTs). This also gives the large user base of mysms messenger an opportunity to access all the services in the LYCOS eco system,'' it added.

mysms is a messenger that synchronizes SMSes and instant messages between a wide range of mobile, web and desktop platforms - all through a single cloud-based account. This fast growing product already has three million users and synchronizing several hundred millions of messages.

SPH Wien is a content management and analytics platform for video. Kika Social is a unified platform for social media listening, engaging and measurement.

Shares of Lycos Internet are trading at Rs 29.30, up Rs 1.95, or 7.13% at the Bombay Stock Exchange (BSE) on Monday at 11:20 a.m.

The scrip has touched an intra-day high of Rs 30.10 and low of Rs 28.75. Total volume of shares traded on the bourses today was higher by 36.65% to 1,827,996 compared with 22-day average volume of 1,337,702.