IMIMobile , which is a mobile technology provider company based in Hyderabad has recently stated that they have acquired the UK based company called WINplc which is known for providing mobile content and services.
This deal is considered to be the first major overseas acquisition by IMIMobile and had cost them $26 million. As per the CEO and founder of IMIMobile, Vishvanath Alluri, this deal was financed by the PE investors of the company, internal accruals and through a debt of $9 million. This deal will help the Hyderabad based company to get an access to the combined entity in the major European countries as the acquired UK based company already has customer and technical terms with the Tier 1 operators in Europe.
After the deal, now the new combined entity will provide mobile services to more than 100 operators in 70 countries with a work force of around 650. The CEO of the WIN, Graham Rivers will work keep working on the position of executive director of IMIMobile.
No comments:
Post a Comment