Mobile value added services (VAS) company IMImobile has completed the acquisition of 100% stake in UK-based mobile content and services company WIN plc. IMImobile had earlier said that it will delist WIN from the London Stock Exchange and register it as a private company in a £16.95 million or a $26.32 million deal.
Post the deal, WIN's CEO Graham Rivers will become an Executive Director of IMImobile in the new company structure. The deal with WIN plc will expand the workforce of IMImobile to 600 and give access to relationships with mobile operators in Europe and other emerging markets. IMImobile’s DaVinci Evolved Service Platform (ESP) will now reach more than 100 operator and enterprise customers in some 70 countries around the world.
“This is an important step for IMImobile as we aim to create and drive an open global mobile marketplace for new applications and services and to help operators realize the “network-as-a-service” model and make their networks smarter. We understand that the mobile device will lie at the heart of a compelling and powerful mix of services and applications for business, entertainment, leisure and lifestyle needs. The challenge is to realise that potential with fast-to-market, easily configurable services in a technically complex environment. Our unique managed service model allows our customers – operators, enterprises and media companies – to quickly create, deliver and access an advanced range of mobile applications and services,” said Vishwanath Alluri, Chairman and CEO of IMImobile.
Founded by Vishwanath Alluri (Chairman & CEO) and Shyam Bhat (CTO) in 2000, IMImobile has around 500 employees globally. The company raised $13-million funding from Sequoia Capital and its existing investor First Mark Capital in November 2009.
The WIN plc deal is IMImobile's fourth and probably the largest acquisition. In July 2009, it acquired Mobytec, a social aggregation and phone book management service provider in UK. Earlier in February 2009, it acquired Music2You, a music download and subscription
services platform from Nokia Siemens Networks, and in November 2008, it acquired Dx3, a digital content delivery services provider in UK.