MANILA - Smart Communications Inc. is set to complete next month the acquisition of Chikka Holdings Ltd., a 2-way web-to-mobile instant messaging client.

The mobile arm of Philippine Long Distance Telephone Co. (PLDT) confirmed on Friday that it has entered into a sales and purchase agreement to acquire all of Chikka's shares. The company did not disclose any amount for the purchase.

"The transaction is expected to be closed sometime in late December, subject to the fulfillment of certain conditions," Smart said in a statement.

Just a few days ago, Chikka founder and chief imagination officer Dennis Mendiola hinted about a Smart-Chikka partnership via his Twitter account. The tweet was announced by Abe Olandres, a professional blogger.

"Team Smart + Team Chikka = Unbeatable. Now we are one. Here's to a new beginning," Mendiola said.

PLDT, led by businessman Manuel V. Pangilinan, has closed a number of big-ticket acquisitions this year. The group, however, said it won't likely make new investments in 2010 as it takes care of its new businesses (Read: MetroPac, PLDT to pause on acquisitions next year).

In March, its unit Pilipino Telephone Corp. bought a 20% stake in Manila Electric Co. (Meralco) from Lopez-led First Philippine Holdings Corp.

Mediaquest Holdings Inc., a unit of PLDT's beneficial trust fund, recently purchased a 75% share in Cojuangco-led ABC Development Corp., the owner and operator of TV5.

The firm, which has a minority stake in BusinessWorld newspaper, is also in talks to acquire a controlling stake in the Philippine Star newspaper.