Mobile and desktop communication systems provider Geodesic Ltd has acquired South America-based Interactive Networks Inc. Interactive, which will now become a wholly-owned subsidiary of Geodesic, is a software provider of advanced instant messaging and value added
solutions. The deal size was not disclosed. The deal will help Mumbai-based Geodesic expand its presence in South America and Africa.
BSE and NSE listed Geodesic closed at Rs 109.25 yesterday, with a market capitalisation of a little more than Rs 1,000 crore.
The deal would help Geodesic expand beyond the retail and consumer markets into the mobile carrier and enterprise markets. Geodesic plans to use Interactive’s instant messaging (IM) platform to help operators offer PC and Web IM clients to both subscribers and non-subscribers.
The solutions now offered will specifically support mobile carriers’ and handset vendors’ needs.
Revenue from mobile social networking and user-generated content is forecasted to grow to $70 billion in 2012.
Uruguay-based Interactive Networks has implemented its solution with 12 major carriers across South America, Africa and Asia. The company had raised $800K from Prosperitas Capital Partners in 2007. Interactive acquisition will also help Geodesic to expand its product
“Through this transaction, Geodesic also acquired Interactive Networks’ development team, a group that brings extensive mobile VAS experience and that will help us to further serve our expanding global customer base,” said Arvind Venkateswaran, Geodesic’s senior vice president and general manager for its wireless business.