"Short form communication is defining modern culture, and every phone number-wireless or wired-should be able to support the text medium, " said John Lauer, CEO of Zipwhip.

ENGADGET: Zipwhip endows existing landlines with the ability to send and receive texts

"We've had a lot of people each from all over the world wanting to distribute this thing, " the company's chief executive John Lauer told the BBC.

BBC: Zipwhip's Textpresso

"The board strongly believes UTC's proposal significantly undervalues the company and fails to reflect Diebold's strengths and significant upside potential, " said Diebold Chairman John Lauer .

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