Visit a college campus and it's obvious that the MySpace generation can't live without mobile devices. And, of course, they want smart devices that are sleek and cool.

No doubt, this is a big opportunity for Microsoft (NASDAQ: MSFT), which needs to find new markets for its software.

So, today the company announced it is purchasing Danger, which has a platform that helps to deliver mobile applications.

The company focuses primarily on the T-Mobile Sidekick family. Some of the capabilities include: IM, real-time email, HTML browsing and social networking. There are about 923,000 subscribers and revenues hit $56.4 million last year.

A big problem: over 90% of revenues come from T-Mobile. That's certainly a risky proposition.

Interestingly enough, Danger recently filed for a public offering. But in light of the recent market turbulence, a deal with Microsoft certainly seems less dangerous for shareholders.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements. He also operates DealProfiles.com.

Microsoft grabs Danger originally appeared on BloggingStocks on Mon, 11 Feb 2008 16:44:00 EST. Please see our terms for use of feeds.