Acquisition In Europe IMI Mobile is in advanced stages of talks for an acquisition in Europe, VR Vishwanath, Chairman and CEO of the company told MediaNama. The size of the deal is expected to be around $10 million, and IMI is looking at it as a means to enter the European market. "Technology acquisitions are out of question for us - we don't look at those. Market entry and customer base...that works for us" The acquisition will be funded through internal accruals and equity; IMI Mobile is not looking to raise money to fund the acquisition. Ad Ring Vishwanath sees Europe and US as two key markets, apart from India, for Ad-Ring, a mobile advertising platform that the company has developed, for ads across SMS, WAP Portal, SMS, RingBack Tones, Videos and CRBT. "No one has gotten the mobile advertising game quite right so far - most are just looking at it as an extension of advertising in the online world - based on content. That is not right. On mobile, it is possible to track usage patterns via multiple channels. But you must have an advanced content management system which is able to unify voice, video and data. We've created access channels and integrated with operator billing records, usage history, and check usage patterns on the fly." Frankly, this product sounds remarkably similar to Morpheus, a platform that OnMobile has showcased at a conference once, but Vishwanath would not be drawn into a comparison with specific VAS companies, despite…
IMI Mobile To Close $10 Million European Acquisition; Ad-Ring;$60 Million Revenue Target; CRBT In Latin America
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