Mobile VAS provider IMImobile has filed for an IPO on AIM (Alternative Investment Market), a sub-market of the London Stock Exchange that offers smaller companies a more flexible regulatory system than applicable to the main market. Through this offering, the company is looking to raise up to £30 million, although it is yet to disclose the starting price or how much shares it will be offering through this IPO. The company also mentions that it reported sales of £38.5 million with an underlying EBITDA of £6.1 million for the year ended March 31, 2013. IMImobile currently offers mobile engagement products and solutions to mobile operators, enterprises and media companies. It has developed a cloud-based mobile service delivery platform called the DaVinci Evolved Service Platform. On top of this platform, it offers a suite of consumer lifecycle solutions which allow operators, enterprises and media companies to drive revenues, customer acquisition, customer retention, self-care services, business and productivity applications and audience engagement. These can be delivered either as managed solutions, licensed for on-premise deployment or accessed directly via cloud infrastructure. IMImobile claims to be working with working with over 100 carriers & enterprises and its solutions are being delivered in over 60 countries in Europe, the Americas, Middle East & Africa and India. Its key customers include mobile operators like Vodafone, Airtel, Aircel, BSNL, AT&T, O2, Telefonica and media & enterprise companies Centrica, Coca-Cola, Universal Music, Tata, the AA and the BBC among others. Use of Proceeds IMImobile plans to use the IPO proceeds to grow its revenue & profit from its core business, expand to select geographies, improve the existing…
