Global mobile marketing, loyalty and technology company MobileWave has acquired mobile solutions company Ariose Software, according to StockMarketwire. The report mentions that MobileWave will be acquiring 100% of the issued share capital of Ariose for the maximum possible consideration payable at $1,200,000 and the purchase price will be payable in four payments with the first payment of $450,000 in cash and MobileWave Convertible Preference Shares equal in value of $450,000, due in 5 days after closing the acquisition.
Through this acquisition, MobileWave intends to bring in Ariose’s technical expertise and its team of 40 engineers in order to develop and refine MobileWave’s own business-to-customer (B2C) mobile relationship management platform, which, according to the company, allows brands to deliver customer-focused campaigns. Further, the company also plans to integrate Ariose’s intellectual property into its enterprise mobility platform. Ariose Co-founders, Amit Goenka and Sudhi Agarwal will continue with the company as the Managing Director and Chief Technical Officer of Ariose, respectively.
Founded in 2006, Ariose Software provides solutions in the mobile and telecom segment which are used across enterprise (mobile field reporting, field staff automation and utilities), consumer (entertainment, infotainment and healthcare), location based solutions (navigation, deals and store locator) and mobile commerce (mobile payment and retail).
Its solutions, apps and products are also used in the banking, marketing, payments, publishing, retail, shopping, security, social networks, token and travel industries. The company claims to have developed 120 apps which have reportedly grossed over one million downloads in total. The company had reportedly generated a revenue of Rs 11,757,326 in the financial year ending 31st March 2011. It also claims to have more than 100 customers across value added service (VAS) providers, e-commerce companies and enterprises including One97*, Hungama, Nazara, Snapdeal, and Manupatra.
The company currently offers products like Cortex, TrackOnMap, and Mpower. While Cortex is a carrier class subscription, charging and content delivery platform, TrackOnMap is a vehicle and resource tracking solution, Mpower allows business users to access, query and update corporate information from their mobile phones in secure and cost effective way.
Disclosure: One97 Communications is an advertiser with MediaNama.