After announcing its plans to acquire a South American messaging business in February, BSE listed firm Geodesic Ltd has completed the acquisition of Interactive Networks Inc (INI), a Montevideo, Uruguay. The amount paid to acquired a 100% stake in the company, which will now be a subsidiary of Geodesic, has not been disclosed. INI was founded in 1999, and in 2007, they had raised (translation)$800,000 from venture capital firm Properitas Capital Partners.
The acqusiition is in line with Geodesic’s focus on the messaging business, with its Mundu portfolio of solutions: while one may question the need for Geodesic to acquire INI instead of developing its own products, the company gets access to products and a client base by virtue of this deal.
INI specializes in secure private instant messaging (IM) solutions for enterprises, as well as IM solutions for mobile operators. Operators can offer PC and Web IM clients to both subscribers and non-subscribers, allowing conversations through SMS and MMS. The platform allows sending of PC to mobile and Mobile to PC text messages, voice clips, photos etc. These capabilities will allow Geodesic to offer a greater range of messaging applications to their client base of telecom operators, handset manufacturers and media companies. Last year, INI had introduced a new version of its instant messaging application for financial institutions. INI also has web based video chat room solutions.
Importantly, Interactive Networks brings with it a client base of 12 major carriers across South America, Africa and Asia, and this will allow Geodesic to offer its Mundu portfolio of services to the same set of clients. Note that INI’s website does not specify the names of its clients, nor are there any inputs on the time span of these deals.
— Q309: Simputer Gets A New Lease Of Life? Geodesic Acquires Uruguay Software Co; Chandamama
— Updated: Q409 Results: Geodesic Reports Rs. 662.7M Profit; Mundu IM For Android; ESOPS
— Geodesic Acquired VoIP Company PhoneStack