Text Messaging:

Text messaging, or texting, refers to the exchange of brief written text messages between fixedline phone or mobile phone and fixed or portable devices over a network. While the original term (see below) was derived from referring to messages sent using the Short Message Service (SMS) originated from Radio Telegraphy, it has since been extended to include messages containing image, video, and sound content (known as MMS messages). The sender of a text message is known as a texter, while the service itself has different colloquialisms depending on the region: it may simply be referred to as a text in North America, India, Australia, the Philippines and the United Kingdom, an SMS in most of Europe, and a TMS or SMS in the Middle East and Asia. Text messages can be used to interact with automated systems such as ordering products and services for mobile phones or participating in contests. Advertisers and service providers use direct text marketing to notify mobile phone users about promotions, payment due dates and other notifications that can usually be sent by post, e-mail or voicemail. In a straight and concise definition for the purposes of this English Language article, text messaging by phones or mobile phones should include all 26 letters of the alphabet and 10 numerals, i.e., alpha-numeric messages, or text, to be sent by texter or received by the textee
Instant Messaging Instant messaging (IM) is a form of real-time direct text-based chatting communication in push mode between two or more people using personal computers or other devices, along with shared clients. The user's text is conveyed over a network, such as the Internet. More advanced instant messaging software clients also allow enhanced modes of communication, such as live voice or video calling and inclusion of links to media.

Definition
IM falls under the umbrella term online chat, since it is communication also text-based as well as bi-directionally exchanged in real-time. IM is distinct in that it is based on clients that facilitate connections between specified known users (often using contact list, buddy list, or friend list), whereas online 'chat' also includes web-based applications that allow communication between (often directly addressed, but anonymous) users in a multi-user environment.

[edit] Overview
Instant messaging (IM) is a set of communication technologies used for text-based communication between two or more participants over the Internet or other types of networks. IMchat happens in real-time. Of importance is that online chat and instant messaging differ from other technologies such as email due to the perceived quasi-synchronicity of the communications by the users. Some systems permit messages to be sent to users not then 'logged on' (offline messages), thus removing some differences between IM and email (often done by sending the message to the associated email account).

IM allows effective and efficient communication, allowing immediate receipt of acknowledgment or reply. However IM is basically not necessarily supported by transaction control. In many cases, instant messaging includes added features which can make it even more popular. For example, users may see each other via webcams, or talk directly for free over the Internet using a microphone and headphones or loudspeakers. Many client programs allow file transfers, although they are usually limited in the permissible file-size. It is usually possible to save a text conversation for later reference. Instant messages are often logged in a local message history, making it similar to the persistent nature of emails.