AIM listed WIN Plc has said that it is in discussions with Indian Mobile VAS company IMI Mobile*, which may lead a cash offer for the company at GBP 1.41 per share for WIN. IMI Mobile had raised $13 million from Sequoia Capital and First Mark Capital late last year, its third round of funding, and acquisitions in the EU and USA have been on the agenda. At 10,532,238 ordinary shares of 10 pence each issued, and GBP 1.41 per share, WIN Plc is valued at GBP 14,850,455. WIN is a UK based mobile services company, partnering with mobile operators like Vodafone, O2, T-Mobile, Maxis, and running mobile marketing campaigns. It provides WAP portal, SMS and MMS alerts, Multi Media Console services with clients like BBC, Yell.com, ADP, Fujitsu, The Guardian, etc. It has 113 employees (at 2009 end) and 5 offices around the world. IMI Gets Undertaking For GBP 1.41 Per Share From AXA IM UK While Win says that these are early days, and an offer might be forthcoming - probably a standard caveat - IMI Mobile apparently already owns around 2.37 percent in the company (250,000 WIN ordinary shares through a wholly-owned subsidiary), and has procured an irrevocable undertaking from AXA IM UK in respect of its holding of 18.56 percent (1,955,000 WIN ordinary shares) to accept an offer by IMI for WIN, should it be made, at GBP 1.41p per share. To AXA IM, IMI Mobile will be paying GBP 2,756,550. The undertaking will not be…
