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. Last year, Geodesic had acquired Internet Telephony company Phonestack. Note that the company is yet to officially confirm this. Products…
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