SinglePoint is selling some of the assets of its messaging business to Swedish mobile telecommunications giant Ericsson, according to a source familiar with the transaction. The Bellevue company declined to comment on the deal, and Ericsson representatives could not be reached this weekend.

The transaction relates to the SinglePoint business that delivers standard and premium-rated text messages. It is unclear how much Ericsson is paying for the unit and what it intends to do with the technology.

SinglePoint has long offered the back-end technology for text message delivery, providing the services to high-profile customers such as NBC and Barack Obama during his presidential run. In recent months, the company has made a bigger push into mobile advertising, including the ability to deliver ads around text message campaigns involving popular TV shows.

As part of that effort, it introduced the SingleBrand Ad Marketplace 14 months ago.

Mobile advertising is certainly a hot space right now given Google's recent purchase of AdMob for $750 million.

Rumors circulated earlier this year that SinglePoint was looking for a buyer. And by selling off some of its assets, the company could be grooming itself for a full sale. In fact, MocoNews last month speculated that SinglePoint -- as well as mobile startups such as 4Info, HipCricket and Cellfire -- could be attractive candidates for Google.

Founded in 1996 under the name Wireless Services Corp., the company changed its name in 2006 after acquiring Mobile Media North America. It used proceeds from a $30.75 million venture capital round to help fund that acquisition. Total funding at that time stood at $47 million.

The company's investors include Rally Capital, Ignition Partners, Madrona Venture Group -- all of which have connections to the old McCaw Cellular. The company's top executives -- including chairman and co-founder Steve Wood and Chief Executive Rich Begert -- previously worked at McCaw Cellular.

John Cook is co-founder of TechFlash. Follow on Twitter @johnhcook.