Cellebrum Plans Acquisition In The Mobile Content Space; To Appoint I-Bank For The Deal
Cellebrum, a B K Modi Group company in the mobile value added service space, plans to acquire a mobile content company. Cellebrum will soon appoint an investment bank to scout for deals. Cellebrum’s chief operating officer Saket Agarwal tells The Economic Times that “the proposed acquisition target will be a company with expertise in developing innovative mobile phone content like mobifilm, mobisodes (short episodes of TV shows customised for cellphone screening) and cartoon”. The acquisition will be completed in the next six to eight months.
Cellebrum recently received $15-million from Lehman Brothers to form an incubation fund for mobile start-ups and also for funding an acquisition. Cellebrum is expected to go in for an IPO this year, so is its sister company Spice Communications. [Via ContentSutra.com]
