Lucent Technologies said it has agreed to acquire Mobilitec, a San Mateo provider of content management software for wireless service providers. See the details of the announcement here.

Lucent had been an investor through its venture arm. Other investors in the company included Canaan Partners, Duchossois Technology Ventures and AIG Orion.

Lucent said Mobilitec, which supports all media types (voice, data, etc) will help Lucent’s efforts to produce “next-generation platforms” that support multimedia applications, enabling more services for mobile and broadband users:

Lucent intends to integrate the Mobilitec solution, which enhances Lucent’s IP Multimedia Subsystem (IMS) and Mobility (3G) portfolios, with Lucent’s application products to enable intelligent, personalized context-aware content delivery and targeted advertising. This will make it possible for service providers to offer special promotions on their Web storefronts that are personalized based on content, profiles, preferences, location and availability. In addition, these promotions can be targeted by device or user segment, and sent to friends through buddy lists to support viral marketing. Lucent’s integrated solution will accelerate the service provider’s ability to respond to the growing market opportunity.

According to Pyramid Research, the global market for mobile content services is expected to reach $73 billion by 2010. (Wow, that is a big number!) This market estimate includes services and applications such as ring tones, games, information, music, video and graphics but excludes messaging and remote access.

Mobilitec has already sold its platform to 20 customers with a base of more than 300 million subscribers, the announcement said. Mobilitec customers include Vodafone, Orange Israel and M1.

The Mobilitec platform manages the complete content life cycle by offering software for processing submissions from a content provider, content management in catalogs, digital rights management, rendering to ensure content is formatted for the subscriber’s wireless device, a Web-style page that can serve as the carrier’s “storefront,” and a delivery mechanism.

Mobilitec, which will become part of Lucent’s applications business, has 70 employees worldwide, including research and development operations in Israel.